Employee Pension Scheme

In this article, DSIJ untangles the confusion revolving around opting for a higher pension.

The EPS is a savings scheme that is part of the larger EPF in India. The EPS is designed to help employees save money for their retirement with the ultimate goal of providing them with a pension once they retire.The recent EPS rules have left a lot of people confused as to whether or not to opt for higher pension. In this article, DSIJ untangles the confusion revolving around opting for a higher pension.

Retirement is a time in life when you can relax, pursue your passions, and spend time with loved ones without the pressure of work. But to ensure that you have a comfortable and financially secure retirement, it’s important to plan ahead. The Employee Pension Scheme (EPS) is a way for people to save money for when they retire from working. It’s like putting money in a piggy bank every month so you can use it later when you are not working anymore. The EPS is part of a larger savings scheme called the Employee Provident Fund (EPF). This is like a bank account where people put money aside for their retirement. Both the EPS and the EPF help people save money for when they are older and don’t work anymore.