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Employees’ Pension (Amendment) Scheme, 2017

NOTIFICATION

New Delhi, the 4th May, 2017

G.S.R. 437(E).—In exercise of the powers conferred by section 6A read with sub-section (1) of section 7 of Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes the following Scheme further to amend the Employees’ Pension Scheme, 1995, namely:-

1. (1) This Scheme may be called the Employees’ Pension (Amendment) Scheme, 2017.

(2) It shall come into effect from the date of its publication in the Official Gazette.

2. In the Employees’ Pension Scheme, 1995, for paragraph 33, the following shall be substituted, namely:-

“33. Disbursement of pension and other benefits.– (1) The Commissioner shall, with the approval of the Central Board, enter into arrangement for the disbursement of pension and other benefits under this Scheme with disbursing agencies like post office or nationalised banks or Treasuries or scheduled commercial banks including regional rural banks or co-operative banks through electronic or digital funds transfer system.

(2) The Commission payable to the disbursing agencies and other charges incidental thereto shall be met as provided in paragraph 27 of the Scheme.”

[F. No. S-35012/7/2016-SS-II]

R. K. GUPTA, Jt. Secy.

Note: The Employees’ Pension Scheme, 1995 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide notification number G.S.R. 748(E), dated the 16th November, 1995 and was last amended vide notification number G.S.R. 1191(E) dated the 30th December, 2016.

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