Important information for pension holders: There may be problem in life certificate, update on EPF-95 also! – StudyToper

EPF-95 News: There are some important changes and updates for pension holders. The government has simplified the process of submitting life certificate and has also made some changes in the EPF-95 pension scheme. The purpose of these changes is to provide relief to pensioners and increase their convenience.

In this article we will discuss in detail the important news for pension holders. We will highlight new methods of submitting life certificate, changes in EPF-95 pension scheme and other important information. We will also tell what impact these changes will have on pensioners.

What is life certificate?

Life certificate is a document that proves that the pensioner is alive. Every year pensioners have to submit this certificate so that their pension can continue. Its main objective is to ensure that the pension is being paid to the right person.

Main points of life certificate

New ways to submit life certificate

The government has simplified the process of submitting life certificate. Now pensioners can submit this certificate in several ways:

1. Online submission: You can submit online by visiting Jeevan Pramaan portal.
2. Face Authentication: You can also deposit through face authentication from your smartphone.
3. Doorstep Service: Some banks and postal departments are providing the facility of making life certificate at home.
4. Common Service Centre: You can also deposit by visiting the nearest Common Service Centre.
5. Bank Branch: You can also submit the life certificate by visiting your bank branch.

Changes in EPF-95 Pension Scheme

Some important changes have been made in the EPF-95 pension scheme:

1. Increase in minimum pension: The minimum pension amount has been increased to Rs 1000 per month.
2. New formula for pension calculation: A new formula has been implemented for pension calculation which is beneficial for the pensioners.
3. Improvement in Widow Pension: The amount of widow pension has also been increased.
4. Timely payment of pension: Pension will be paid on the 1st of every month.
5. Online Tracking System: Pensioners will be able to track their pension status online.

Process to submit life certificate

Follow the following steps to submit life certificate:

1. Go to Jeevan Pramaan Portal
2. Enter your Aadhaar number and mobile number
3. Confirm OTP
4. Fill in your information
5. Do biometric or face authentication
6. Download Life Certificate

Consequences of not submitting life certificate

If you do not submit the Life Certificate on time:

• Your pension may be stopped
• There may be a delay in getting the outstanding pension
• There may be difficulty in restarting pension.

Benefits of EPF-95 Pension Scheme

Some of the major benefits of EPF-95 pension scheme are:

• pension for life
• Widow/widower pension facility
• Pension system for children
• provision of disability pension
• regular payment of pension

Important tips for pensioners

1. Submit life certificate on time
2. Keep your information updated
3. Be aware of pension related rules
4. Use the helpline for any problems
5. use digital methods

new digital initiative

The government has launched some new digital initiatives for the convenience of pensioners:

1. UMANG App: You can submit life certificate through this app.
2. WhatsApp Chatbot: WhatsApp Chatbot has been launched to get information related to pension.
3. Video KYC: Some banks are offering the facility of video KYC.
4. AI based face recognition: Life certificate can be submitted through face recognition technology.
5. Digital Pension Passbook: Online pension passbook facility has been started.

Pensioners’ rights

Some important rights have been given to pensioners:

1. Right to receive pension on time
2. right to redressal of grievance
3. right to information
4. Right to be treated with dignity
5. Right to amend pension

Solution to pension related problems

If you have any pension related problem:

1. Contact your bank
2. Call the helpline of pension department
3. lodge complaint online
4. Use Public Grievance Portal
5. use RTI

future plans

The government is working on some new schemes for pensioners:

1. Integrated Pension Portal: A single portal for all pension schemes
2. AI based assistance: AI chatbot for pension related queries
3. Mobile Van Service: Services from mobile van in remote areas
4. Pension Advisory Service: Scheme to provide financial advice to pensioners
5. Health Insurance Linkage: Scheme to link health insurance with pension

Disclaimer: This article has been written for information purposes only. Although the information given herein is believed to be correct, please verify with the relevant government department or authorized sources before taking any action. Rules and procedures may change from time to time. The author or website will not be responsible for any errors or omissions.