What Happens To Your EPS Pension Money After You Have Withdrawn Your PF? Here's How To Check EPS Record Online
When employees withdraw their PF, they subconsciously leave their EPS component behind. What happens to that EPS pension money? How can you track it? Check the details here.
EPS Withdrawal For PF Subscriber
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Many employees who have switched their jobs or have left their employment withdraw their EPF balance and forget that their EPS is not involuntarily encashed. The EPS remains with the EPFO even after the withdrawal of EPF. Employees can trace, access, or use their EPS to draw a pension.
EPF vs EPS
The Employee Provident Fund (EPF) is a retirement savings scheme where employees and employers contribute a portion of their salary. The Employee Pension Scheme (EPS) provides pensions to employees after retirement. Both EPF and EPS are managed by the Employees' Provident Fund Organisation (EPFO).
EPS withdrawal rule
Employers and employees contribute to EPF, with a portion of the employer's contribution going to EPS. The EPS portion earns interest and can be withdrawn. The EPF portion is for pension purposes and does not earn interest. It can only be withdrawn after 10 years of service and 58 years of age.
What happens to EPS after PF withdrawal?
When employees withdraw their PF, they subconsciously leave their EPS component behind. EPS simply isn't accounted for since it doesn't reflect in your bank account and doesn't accumulate interest.
EPS records
Your EPS records are not wiped out. Even after you withdraw your PF, the EPS record remains with the EPFO. It is linked to your Universal Account Number (UAN). So, you can verify your EPS service record, check your EPS balance and take advantage of a pension in the future.
How to check your EPS status?
You can log in to the EPFO Member Portal with your UAN to access your record of service. In the View section, click on Service History. You'll get to see your EPS contribution records.
EPS entitles you to a pension
If you have made more than 10 years of qualifying service, EPS contributions entitle you to a pension from the scheme even after you've withdrawn your EPF. You will have to apply separately for the pension in Form 10D after attaining the age of 58.
Claim refund of EPS
If your total service was less than 10 years and you've withdrawn PF and you want to withdraw your EPS then you can submit the application for claiming a refund of your EPS contributions through Form 10C also.
What if you don't have UAN?
If you don't have your UAN or past PF details then visit the UAN retrieval page and click on Know Your UAN. Enter your Aadhaar-linked phone number. The EPFO will send the details via SMS.
