Speaking about this landmark decision, Union Minister Dr. Mansukh Mandaviya said, “The approval of the Centralized Pension Payment System (CPPS) marks a significant milestone in modernization of the EPFO. By enabling pensioners to receive their pensions from any bank, any branch, anywhere in the country, this initiative addresses the long-standing challenges faced by pensioners and ensures a seamless and efficient disbursement mechanism.  This is a crucial step in our ongoing efforts to transform the EPFO into a more robust, responsive, and tech-enabled organization, committed to serving the needs of its members and pensioners better.”

The Centralized Pension Payment System is expected to benefit more than 78 lakh EPS pensioners of EPFO. By harnessing advanced IT and banking technologies, it will offer a more efficient, seamless, and user-friendly experience for pensioners.

The CPPS would also ensure disbursement of pension throughout India without any need for transfer of Pension Payment Orders (PPO) from one office to another even when the Pensioner moves from one location to another or changes his bank or branch. This would be a great relief to pensioners who move to their hometown after retirement.

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This approval is in addition to the existing scheme for the wage months of March to May, 2020 approved on 15.04.2020.  The total estimated expenditure is of Rs.4,860 crore.  Over 72 lakh employees in 3.67 lakh establishments will be benefitted.
Salient Features:
The salient features of the proposal are as under:

For the wage months of June, July and August, 2020, the scheme will cover all the establishments having upto 100 employees and 90% of such employees earning less than Rs. 15,000 monthly wage.

About 72.22 lakh workers working in 3.67 lakh establishments will be benefited and would likely to continue on their payrolls despite disruptions.

Government will provide Budgetary Support of Rs.4800 crore for the year 2020-21 for this purpose.

The beneficiaries entitled for 12% employers’ contribution for the months of June to August, 2020 under Pradhan Mantri Rozgar Protsahan Yojana (PMRPY) will be excluded to prevent overlapping benefit.

Due to prolonged lockdown, it was felt that businesses continue to face financial crisis as they get back to work. Therefore, the Hon’ble FM, as part of Aatmanirbhar Bharat, announced on 13.5.2020 that the EPF support for business and workers will be extended by another 3 months viz. for the wage months of June, July, and August, 2020.

The steps taken by the Government from time to time to ameliorate the hardships faced by the low paid workers are well accepted by the stakeholders.

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The move comes after the Opposition attacked the BJP government over investments of more than Rs 2,600 crore of the UPPCL EPF in scam-hit housing finance firm DHFL.

Aparna U has been shifted to the irrigation department as secretary. M Devraj, who has returned from central deputation, will be the new power secretary and UPPCL managing director, a government spokesperson said.

The Samajwadi Party and the Congress have demanded that Power Minister Shrikant Sharma and the principal secretary of his department be dismissed. The SP also demanded a probe by a sitting high court judge into the scam.

Congress workers held a protest demonstration over the issue in Lucknow and demanded dismissal of Sharma, saying that a scam of this size cannot take place without the “connivance” of the minister.

Last Saturday, the state government had recommended a CBI probe into the matter. The state government had on Sunday claimed that the “dubious” decision was taken by the previous government headed by Akhilesh.

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