EPFO gives pensions to its members after retirement, provided that the member has contributed to EPFO ​​for at least 10 years. Pension is decided based on contribution. Usually, this pension is available after retirement at the age of 58 years. But if an employee wants to take a pension before 58 years, then also he can claim it. EPFO ​​gives the facility to the employee to take a pension between 50 to 58 years. However, this pension is available based on some conditions. But if you want to get more pensions from EPFO, then there is a way for this too, which most people do not know. If you are employed, then understand the matter of your work here. This is how you will get more pensions.

According to EPFO ​​rules, a pension is usually given on completion of 58 years, but if the employee is still in a job after 58 years, then he can stop his pension for two more years i.e. till the age of 60, and can continue his contribution to the pension fund till the age of 60. In such a situation, the employee gets a pension at an additional rate of 4% every year. In such a situation, if the employee takes a pension at the age of 59, then he is given a pension at an additional rate of 4%, while at the age of 60, he is given a pension at an additional rate of 8%. For calculating their pension, the service and salary of the years after 58 years of pension are also taken.

If you have to take a pension between 50 years to 58 years then…

If your age is between 50 years to 58 years, then only you can claim for Early Pension. But in this, you get less pension. The earlier you withdraw the money from the age of 58, the lesser will be your pension at the rate of 4% for each year. Suppose an EPFO ​​member decides to withdraw the reduced monthly pension at the age of 56, then he will get 92% (100% – 2×4) of the basic pension amount i.e. he will get a reduced pension of 8%. To get an Early Pension, you have to fill out the Composite Claim Form and select the option of Form and 10D for Early pension.

If you are less than 50 years old

If you have completed 10 years of service and your age is less than 50 years, then you cannot claim for pension. In such a situation, after leaving the job, you will only get the funds deposited in EPF. Pension will be available from the age of 58.

If you have less than 10 years of job

If your job period is less than 10 years, then you are not entitled to a pension. In such a situation, you have two options. First, if you do not want to work, you can withdraw the pension amount along with the PF amount. The second option is that if you think that you will join a job again in the future, you can take a pension scheme certificate. In such a situation, whenever you join a new job, you can link your previous pension account to the new job through this certificate. With this, whatever is lacking in the 10 years of work, you can complete it in the next job and become eligible to get a pension at the age of 58.