EPFO Revises Employees' Pension Scheme 2026, Removing Higher Pension Option

The Employees' Pension Scheme (EPS) 2026, approved by the EPFO's Central Board of Trustees, removes the EPS-1995 provision allowing pension on higher salary, citing obsolescence. This change affects over 5 crore members and 82 lakh pensioners, with concerns raised about lack of stakeholder consultation and transparency. The Supreme Court in 2022 permitted some pensioners to apply for higher pensions, but many applications were rejected due to strict conditions. Critics highlight reduced pension benefits and limited coverage under recent amendments.