EPS 95 Pension Calculator: Calculate EPS 95 Higher Pension on Atual Salary and as per ceiling Limit

EPS 95 Pension Calculator

This version of the Pension Calculator will give results for member pension cases where the pension start date is on or after 01-04-2014, that is only under the Employees’’ Pension Scheme 1995. The benefits displayed are on wages up to the wage ceiling that is Rs 6500/- for up to 31-08-2014 and Rs 1500/- after that date.

INPUT DATA

1. Date of birth: The date of birth of member should be on or after 01-04-1953 which means the member should have completed 58 years age on or after 01-04-2011.

2. Service period: Date of joining and date of exit from service The date of joining cannot be prior to 16-11-1995 and the date of exit cannot be a date after superannuation date.

NCP 1 and NCP 2 days: The Non-Contributory Period of Service is the number of days for which the member did not get wages and so for those number of days EPS contribution was not paid by the employer.

CLICK HERE TO OPEN EPS 95 PENSION CALCULATOR

The NCP 1 is up to 31-08-2014 and NCP 2 is after 31-08-2014.

In a member had worked in different establishments he can add multiple service periods.

3. Pension opted date: In case as on date of use of the calculator the member has crossed 58 years age the pension start date will be displayed by system but if the member has not crossed the age of 58 years, then he can enter a date from date of exit/ date of attaining 50 years age till the date of use of the calculator.

4. Pensionable salary: This is the average wages for last 12 months if the pension start date is on or before 31-08-2014 and 60 months if the pension start date is after that date. The wage ceiling up to 31-08-2014 is Rs 6500/- and after that Rs 15000/- So the average salary can be Rs 15000/- only from 01-09-2019 and up to 31-08-2014 it will be maximum Rs 6500/-. On entry of these data the system will display the amount of monthly or early pension.

If the pension amount is less than Rs 1000/- the member will be eligible for a minimum pension of Rs 1000/- w.e.f. 01-09-2014 or pension start date whichever is later.

In case of early pension, the reduction amount of the pension @4% per annum will be deducted from the early pension for each year from pension fixed at age of 58 years till the age (minimum 50 years) from where early pension opted.