Over 68 lakh pensioners have benefited from the Centralized Pension Payments System (CPPS), which has been implemented by the Employees’ Provident Fund Organization (EPFO) in all of its regional offices throughout India.
The current decentralized pension disbursement system, in which each regional office had agreements with just three to four banks, is replaced by CPPS.
68 Lakh Pensioners Benefit From CPPS
Pensioners are not required to visit the bank for verification at the beginning of pension payments under CPPS; they can withdraw their pension from any bank.
Upon release, pension amounts will be promptly credited via CPPS. When a pensioner moves, banks, or branches, CPPS will allow for smooth pension disbursement across the country beginning in January 2025, eliminating the need to transfer Pension Payment Orders (PPOs).
For pensioners who move back to their hometowns after retirement, this reform offers a great deal of relief.
In October 2023, the first CPPS pilot was carried out in Karnal, Jammu, and Srinagar, where more than 49,000 pensioners received payouts totaling approximately ₹11 crore. More than 9.3 lakh pensioners received ₹213 crore from the second pilot, which was extended to 24 regional offices in November 2023.
Under the Employees’ Pension Scheme 1995, EPFO fully implemented CPPS in all 122 regional offices that disburse pensions in December 2024. Over 68 lakh pensioners received ₹1,570 crore in pension payments through the CPPS in December 2024.
CPPS Implementation Praised By Union Minister
The CPPS implementation was praised by Union Minister Mansukh Mandaviya as a historic milestone, highlighting its role in enabling pensioners to easily access their benefits from any bank or branch across the country.
The CPPS streamlines and modernizes the pension disbursement process by doing away with the necessity for in-person verification visits.
The project supports EPFO’s goal of a member-centric, technology-enabled system that guarantees effectiveness, convenience, and transparency.
As per Mandaviya, “The CPPS is a testament to our commitment to modernise EPFO services and ensuring convenience, transparency, and efficiency for our pensioners. With this rollout, we are setting a new benchmark in pension service delivery, aligning with the vision of a tech-enabled and member-centric EPFO.”
CPPS is a significant step in improving the delivery of pension services, and EPFO is still committed to improving services for pensioners.
