Navigating EPS Pension: Can I Combine Service Periods Despite Gaps for Retirement?

Dear Sir, Kindly help me to solve my below queries regarding my EPS. Below are the details of my service periods along with my UAN number:

Service Period Details

Sr. no | Company | Period | Total years of service | Remark
1 | Cadila Health Care Ltd. | 02.03.1998 till 25.07.2008 | 10 | Withdrew EPF, EPS certificate issued
2 | Sika India Pvt Ltd. | 01.08.2008 till 07.12.2015 | 8 | Withdrew EPF and EPS amount
3 | No Job | 08.12.2015 till 28.02.2019 | 0 | Without job, TAKEN BREAK
4 | R.P Associates | 01.03.2019 till 31.07.2023 | 4 | Not withdrawn (EPF & EPS)
5 | TTK Prestige Ltd | 01.08.2023 onward |

DATE OF BIRTH: 22.04.1972

Queries

Query 1: Can I combine Sr. no. 1 and Sr. no. 4 & 5 periods for continuity of service length of 20 years until my retirement in 2030 for EPS pension? There is a gap of 11 years of service in between. If yes, how should I proceed?

Query 2: If not, how will the PF authority calculate my pension after retirement with both scheme certificates, and what actions do I need to take now?

Query 3: Should I opt for a lesser pension since I have crossed 50 years for Sr. no. 1 and receive another pension from another certificate after retirement?

Thanks in advance.

SHANKAR

Response to Shankar's Queries on EPS Scheme Certificate Issue

🔍 Query 1: Combining Service Periods
- The Employees' Pension Scheme (EPS) allows for the aggregation of service periods from different employers for pension calculation. In your case, combining Sr. no. 1, 4, and 5 can be considered for continuity of service to reach the desired 20 years for EPS pension eligibility.
- To proceed, you need to submit a request to your current employer, TTK Prestige Ltd, to link your previous service periods with Cadila Health Care Ltd. and R.P Associates. This request should be supported by relevant documents such as previous EPS certificates and service details.

📝 Steps to Combine Service Periods:
1. Obtain copies of EPS certificates from Cadila Health Care Ltd. and R.P Associates.
2. Draft a formal request to TTK Prestige Ltd HR department to link all service periods for EPS pension calculation.
3. Submit the request along with the necessary documents for verification and processing.

🔍 Query 2: Pension Calculation and Actions
- The PF authority will calculate your pension based on the total service period and average monthly pensionable salary. By combining your service periods, the pension amount will be computed considering the cumulative service duration.
- To ensure accurate pension calculation, it is crucial to provide all relevant documents and details to the PF authority. You may need to update your service history with the EPFO to reflect the combined service periods.

📝 Actions to Take:
1. Contact the EPFO or your current employer's HR department to update your service history.
2. Verify if all service periods are correctly reflected in your EPS records.
3. Keep track of any communication or updates regarding your pension calculation.

🔍 Query 3: Opting for Pension Choices
- Since you have crossed 50 years and have multiple service periods, you may have the option to choose between different pension schemes. It is advisable to consult with a financial advisor or the EPFO for personalized guidance on selecting the most suitable pension plan based on your circumstances.

📝 Considerations:
- Evaluate the pension options available under EPS and make an informed decision.
- Seek professional advice to understand the implications of choosing a lesser pension or receiving multiple pensions post-retirement.

By following the outlined steps and seeking appropriate guidance, you can streamline the process of aggregating your service periods for EPS pension benefits and make informed decisions regarding your pension choices.