EPS: See details of pension on 10 years of service

Published 23 July 2026 · politics

ITR Guide From ITR filing due dates to right form - know everything about filing your income tax returns for Tax Year 2025-26 or AY

ITR Guide From ITR filing due dates to right form - know everything about filing your income tax returns for Tax Year 2025-26 or AY 2026-27 View Details » Who can join the EPS 2026 scheme? EPS pension calculation formula under the EPS 2026 scheme What can be your estimated monthly EPS pension on completion of 10 years of service? Average Basic Pay (₹) Service Years Estimated Monthly EPS Pension (₹) 10,000 10 1,429 11,000 10 1,571 12,000 10 1,714 13,000 10 1,857 14,000 10 2,000 15,000 10 2,143 Will you get EPS pension if you leave your job before completing 10 years? Key changes in EPS-2026 scheme compared to EPS-1995 scheme Pension claims to be settled within 20 days 12% interest for delayed claims Higher pension provisions incorporated into the scheme Digital compliance for employers The scheme’s name has been changed to the Employees' Pension Scheme, 2026, from the Employees' Pension Scheme, 1995.

The Employees' Pension Scheme (EPS), 2026, has been implemented by the central government. The new EPS scheme governed by the Code on Social Security, 2020, has replaced the Employees' Family Pension Scheme (1971) and the EPS 1995 scheme.The main goal of the new EPS scheme is to provide subscribers with a monthly pension once they have completed 10 years of service. But the main question is whether the 2026 EPS scheme has altered the way the monthly EPS pension is calculated for pensioners?In the 2026 EPS pension scheme, some provisions like pension formula, employee and employer contributions and the minimum pension limit remain unchanged. However, changes have been made to areas like pension processing, how the pension fund is invested and a new rule that offers 12% interest if a claim is delayed by the Employees’ Provident

Fund Organisation (EPFO) without a valid reason.According to the notification, anyone who joins the Employees' Provident Funds Scheme, 2026, or the provident fund of the establishment on or after June 29, 2026, and whose wages on that date are at or below the wage ceiling notified by the central government is eligible.An employee who has been a member of the erstwhile Employees' Pension Scheme, 1995, or was eligible to become a member of the Employees' Pension Scheme, 1995, or Employees' Family Pension Scheme, 1971, before this new scheme started, are also eligible to join the new EPS pension scheme.According to the EPS 2026 scheme notification, the pension calculation formula remains the same.The EPS pension formula is-Monthly EPS pension = (Pensionable salary × pensionable service) ÷ 70Pensionable salary will continue to be the average monthly salary drawn during