InvestorQ : Is it true that an individual can avail benefits of the EPS before the retirement age of 58?
ananya Sing made post

Is it true that an individual can avail benefits of the EPS before the retirement age of 58?

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simran Kaur answered.
3 years ago
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Yes, an individual can avail benefits of the EPS before the retirement age of 58. This is because the EPFO allows an individual to also withdraw his/her EPS at a reduced rate from the age of 50 years.

Please note, however, that the EPS given at the age of 50 will be lower than what an individual would get at 58.

Any member of the EPFO can withdraw an early pension if he has completed 10 years of service and has reached the age of 50 years but is less than 58 years. In this case, the pension amount is slashed at a rate of 4% for every year the age is less than 58 years.

Thus, if a member decides to withdraw the monthly reduced pension at the age of 56 years, he will get the pension at a rate of 92% (100% – 2 x4) of the original pension amount.

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