Good news for these pensioners - Check if you are eligible

It's a good news for pensioners! But, it's valid for only those who availed the benefit of commutation. According to a latest notification issued by the Ministry of Labour and Employment, the Employees' Pension Scheme, 1995  (EPS 95) has been amended and restoration of normal pension in cases of commutation has been permitted.

Restoration to normal pension in cases of grant of commutation

According to the gazette notification, "The normal pension in respect of those members who availed the benefit of commutation of pension under the erstwhile paragraph 12A of this Scheme, on or before the 25th day of September, 2008, shall be restored after completion of fifteen years from the date of such commutation.”

What it means? What's its eligibility?

- The normal or full pension will be restored
 
- It is for those pensioners who availed commutation on or before September 25, 2008

- Full pension after commutation will be restored after completion of fifteen years for these pensioners

FULL TEXT of Gazette Notification

"MINISTRY OF LABOUR AND EMPLOYMENT NOTIFICATION

New Delhi, the 20th February, 2020 G.S.R.132 (E).—In exercise of the powers conferred by section 6A read with sub-section (1) of section 7 of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes the following Scheme further to amend the Employees' Pension Scheme, 1995, namely:

1 - (l) This Scheme may be called the Employees' Pension (Amendment) Scheme, 2020.

     (2) It shall come into effect from the date of its publication in the Official Gazette.

2. In the Employees' Pension Scheme, 1995, after paragraph 12, the following paragraph shall be inserted, namely:–

“12B. Restoration to normal pension in cases of grant of commutation. – The normal pension in respect of those members who availed the benefit of commutation of pension under the erstwhile paragraph 12A of this Scheme, on or before the 25th day of September, 2008, shall be restored after completion of fifteen years from the date of such commutation.”.

[F. No. R-15011/01/2019-SS-II (Pt.)] R.K. GUPTA, Jt. Secy.

Note : The Employees' Pension Scheme, 1995 was published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i) vide notification number G.S.R. 748(E), dated the 16th November, 1995 and was last amended vide notification number G.S.R. 285(E), dated the 4th April, 2019."