pro rata’ basis will result in a huge reduction in pension amount

Translated from Desabimani daily Malayalam 25.02.2024
Higher PF pension criteria “pro rate”; First delivery on 27th

Concerned that higher PF pension scheme implemented on ‘pro rata’ basis will result in a huge reduction in pension amount. The pro rata method is to determine the higher pension by considering the service period before and after September 2014 as two.

The announcement of the PF Commissionerate is that the distribution of higher pension on pro rata basis will start on 27th. PA through EPF-ESI Syndicate Mega Adalat named ‘NAN’ in 11 districts of the state
Distribution of pension
Pro rata is implemented by changing the method of calculating the pension by multiplying the total service period by the average salary of the last five years and dividing by 70. This will result in a huge drop in pensions.
The EPFO had earlier informed that the revised pension will start from March for those who have paid higher contribution to the pension fund commensurate with their salary.

The EPFO proposal to initiate this in the Adalat itself and make it a pro rata standard was sent to the Regional PF Offices on the 15th.
Received It was also specifically mentioned that the criteria should be pro rata and should not be released till the first disbursement.

Thus, the list of few people is ready and the work of pension calculation is in final stage. It has been decided to issue the pension payment order on Tuesday to those who can accurately calculate the full amount by Monday.

The Adalat will be held at the Kadapakkada Sports Club near the Kollam Sub-Divisional Office from 10 am. It is indicated that the payment order of the increased PF pension will be given to four or five people in Adalat.

The distribution of pension under Prayas scheme will also be held in Adalat. The scheme of giving pension order on the day of retirement from service is being held on 27th in the 14th Adalat after the implementation of Prayas Snan.

Apart from Thiruvananthapuram Regional PF Office, Kollam, Kottayam, Ernakulam, Kozhikode, Kannur sub-window offices and district offices are functioning in the state.

All districts except KaSarkot, Malappuram and Pathanamthitta have Adalat on 27th. The EPFO has suggested that at least one person in all the Adalat should pass the higher pension 3 order and celebrate it.

Shared by Parveen Kohli