The Employees Provident Fund Organisation (EPFO) has extended the deadline for subscribers to opt for higher pensions as directed by the Supreme Court. The last date to apply for the higher pension has been extended by 60 days. Employees will now be able to apply for a higher pension till May 3, 2023.
The link to apply for the higher pension is, however, not fully functional. You can access the higher pension online link by visiting the unified portal of EPFO. It is expected that EPFO will soon make the link functional and provide further details on the application process and the pension calculation. (Also read: 5 reasons to apply for higher pension)
EPFO higher pension deadline: Last date to apply
The last date to apply for EPFO’s higher pension option is May 3, 2023.
“The joint option for employees who were in service prior to September 1, 2014 and continued to be in service on or after 01.09.2014 but could not exercise joint option under the Employees’ Pension Scheme can do so now on or before May 3, 2023,” EPFO said on its website.
Also Read: How much higher pension you can get
The higher pension option will be applicable for employees who have been contributing to the EPF and Employees Pension Scheme (EPS) since before September 1, 2014. Under this option, employees will be able to contribute 8.33% of their actual basic pay+dearness allowance towards EPS. Currently, the EPS contribution is capped at the maximum pensionable salary of Rs 15,000.