Clarification On Additional Two Years Pensionable Service Weightage To Members Of EPS - CiteHR
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As per EPFO circular dated 8th May 2017, EPFO has given clarification on the amendment made to the Employees Pension Scheme by notification released in the official gazette on 23rd June 2009. EPFO has stated that after amendment that was in effect from 24th July 2009 a member is eligible for benefit of 2 year weightage of service provided he superannuates on attaining the age of 58 years and he has rendered 20 years pensionable service or more, prior to amendment member had to fulfil either only one of the two conditions or both. Thus, if a member of EPS fulfils both these conditions then his pensionable service shall be increased by adding a weightage of 2 years.
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Please clarify if the 2 years to be added in the services prior to 02.09.2014 or afterwards, the impact is different since the pension prior to 02.09.2014 is calculated on the max salary of 6500 while after this cut off date it is taken notionally as 15000/- ( or ) lesser based average salary for 5 years
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