New Delhi, Feb 27 (KNN) The 112th meeting of the Executive Committee (EC) of the Central Board of Trustees, Employees’ Provident Fund Organisation (EPFO), was held at the EPFO Head Office in New Delhi on February 25, 2025.
Ms. Sumita Dawra, Secretary of the Ministry of Labour and Employment, chaired the meeting, which was attended by CPFC Shri Ramesh Krishnamurthi, senior ministry officials, and representatives from employer and employee groups.
The meeting marked significant progress on several critical initiatives aimed at enhancing retirement security and modernising operations.
The EC formally adopted the Unified Pension Scheme (UPS) for EPFO officers and staff, aligning with the Ministry of Finance’s recent gazette notification.
Effective April 1, 2025, this scheme will provide EPFO employees currently under the National Pension System (NPS) with a minimum guaranteed pension, family pension provisions, and dearness relief adjustments, offering them the option to transition from NPS to UPS.
The committee received updates on the recently implemented Centralised Pension Payment System (CPPS), which has demonstrated impressive results since its January 2025 launch.
The system has successfully transitioned pension disbursement from a decentralised approach to a nationwide platform operating through NPCI’s NACH infrastructure. In its first month of operation, CPPS delivered pensions to 69.4 lakh beneficiaries with a 99.9 percent success rate.
The EC emphasised the importance of transitioning to the Aadhaar-Based Payment System (ABPS) to further enhance security and efficiency.
Significant technological advancements were discussed during the meeting, including progress on the Centralised IT-Enabled System (CITES 2.01).
This initiative, scheduled for completion by March 31, 2025, will replace the aging Field Office Application Software with a centralised database system, streamlining claims processing and payment operations.
The EC also reviewed plans for EPFO 3.0, a comprehensive transformation initiative designed to position the organisation as a technology-driven, member-centric entity through process re-engineering and advanced technology adoption. A vision document for this initiative is expected by March 31, 2025.
The committee reviewed progress on applications for Pension on Higher Wages (PoHW), implementing the Supreme Court judgment of November 4, 2022.
EPFO reported that 70 percent of applications have been processed, with regional offices taking multiple steps to assist members, pensioners, and employers.
The organisation aims to complete processing of all applications by March 31, 2025, with the EC directing expedited handling of cases where required amounts have already been deposited, particularly for large PSUs.
To enhance member experience, EPFO presented plans for simplifying claim processing through rationalisation of validations for partial withdrawals.
A technical committee has recommended simplification of Form 31 validations for advance withdrawals. The EC decided these simplifications should proceed in parallel with ongoing IT reforms to improve ease of living for EPFO members.
The meeting concluded with EPFO reaffirming its commitment to digital transformation and member-centric services. The EC scheduled a follow-up meeting within one month to review progress on these initiatives.
(KNN Bureau)
