NewDelhi: The Centralised Pension Payments System (CPPS) has been deployed in the Employees’ Provident Fund Organisation (EPFO) regional offices throughout the country as per the officials’ announcement of January 3, 2025. This is a huge win for the employees who will benefit from the move, and approximately 6.8 million pensioners will now be available to have a new service.
The CPPS, unlike anything we have seen before, signifies what is really a revolutionary step in the field of payment systems, especially as the new is the opposite of the old, which is a decentralised pension disbursement system, whereby each regional office had their separate agreements with only a few banks. ‘)}When it comes to using the CPPS, pensioners will have the chance to withdraw their pensions from any branch across the country without setting foot in the bank for verification at the time of pension commencement. Upon the disbursement release, the sum is made available immediately; hence, that cuts the processes short.
In January 2025, the national pension payments will be made without the need for transferring the Pension Payment Orders (PPOs) as soon as a retiree changes their location or bank. This is really a very helpful feature that will help pensioners returning to their hometowns after retirement a lot.
The CPPS was launched after covering two pilot projects undertaken in the previous two months. The first pilot in Karnal, Jammu, and Srinagar made it possible for the distribution of funds amounting to around ₹11 crore to almost 50,000 EPS pensioners. The second pilot saw participation from 24 regional offices and distributed approximately ₹213 crore to over 930,000 pensioners.
The EPFO paid out a staggering ₹1,570 crore in pensions in December 2024 alone, which was distributed to over 68 lakh beneficiaries in all 122 pension-disbursing regional offices.
Mansukh Mandaviya, Union Minister, called it “a historic milestone,” the full-scale launch of CPPS. He praised this game-changing effort, arguing that through it, pensioners for any bank branch in India will now effortlessly get their pensions. He also pointed out that the CPPS is a better way for the promotion of the pension disbursing process, as it is not only the government’s modernisation of EPFO services that this program is about but also providing comfort, transparency, and efficiency to the pensioners.
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