Union Minister Dr. Mansukh Mandaviya called the CPPS a significant milestone in modernizing the Employees’ Provident Fund Organization (EPFO), enhancing convenience for pensioners by addressing long-standing challenges. He emphasized that the initiative reflects the government’s commitment to making the EPFO more responsive and tech-driven.

The CPPS will streamline the pension disbursement process by integrating advanced IT and banking technologies, offering pensioners a seamless and efficient experience. This step is expected to greatly benefit pensioners who move to their hometowns or change banks after retirement.

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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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