Tue Jan 07 16:10:00 IST 2025: ## EPFO Launches Centralized Pension Payment System, Enabling Pension Withdrawals from Any Bank

**New Delhi, January 7, 2025** – The Employees’ Provident Fund Organisation (EPFO) has launched a centralized pension payment system (CPPS) across all its regional offices, bringing relief to over 6.8 million pensioners. This new system, effective January 2025, allows pensioners to withdraw their pensions from any bank in India, eliminating the need to visit a specific bank for verification or face delays in receiving payments.

Previously, pensioners often faced difficulties accessing their pensions, especially after relocating or changing banks. The CPPS streamlines this process, ensuring seamless pension disbursement regardless of the pensioner’s location or bank. The system eliminates the need for transferring Pension Payment Orders (PPOs) between offices.

The EPFO successfully piloted the CPPS in October 2024 in Karnal, Jammu, and Srinagar, disbursing approximately ₹11 crore to 49,000 pensioners. A larger pilot program in November covered 24 regional offices, distributing ₹213 crore to over 9.3 lakh pensioners. In December 2024 alone, the EPFO disbursed approximately ₹1,570 crore to over 6.8 million pensioners across all 122 pension disbursement regional offices.

Union Minister Mansukh Mandaviya hailed the full implementation of CPPS across all EPFO regional offices as a historic milestone and a transformative initiative. He emphasized the convenience it offers pensioners, enabling them to withdraw their pensions from any bank branch nationwide.

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