How Much EPS 95 Pension Will You Get Under the 2026 Scheme?
EPS 95 pension now runs under a 2026 scheme. Who qualifies, how the monthly pension is worked out, the minimum, and what changed for employers.
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If Provident Fund (PF) is cut from your salary, part of your employer’s share usually goes into a pension. Most people still call it EPS 95, but what does it pay, and who gets it?
EPS 95 pension is the monthly pension from the Employees’ Pension Scheme (EPS), which a 2026 scheme replaced on 29 June 2026. It is your average monthly wages over the last five years, up to the wage ceiling, times your years of service, divided by 70.
You need 10 years of service, full pension starts at 58, and the minimum is ₹1,000 a month.
I assumed a new scheme would bring a new pension formula. It did not: the formula and the ₹1,000 minimum carried over.
Key Takeaways
- EPS 95 pension is a monthly pension for most PF members. It needs at least 10 years of service and is paid in full from 58; a reduced one can start at 50.
- A 2026 scheme replaced the old one. It took over in June 2026 and kept the formula.
- The minimum is still ₹1,000. No rise has been announced.
- The employer funds most of it. 8.33% of wages, up to a ₹25,000 ceiling, comes from the employer’s PF share, and the central government adds its own share.
Latest Update on EPS Pension
On 15 October 2026, the government limited its own 1.16% pension contribution to wages of up to ₹15,000, as the amendment to the scheme sets out. The change applies from 17 September 2026.
What Is EPS 95 Pension?
EPS 95 pension is the monthly pension paid to members of the Employees’ Provident Fund Organisation (EPFO) under its pension scheme. It is funded from part of the employer’s PF contribution, plus a share from the central government.
The scheme in force now is the Employees’ Pension Scheme, 2026, made under the Code on Social Security, 2020. It replaced the 1995 scheme, which is why people still search for EPS 95.
In Simple Words
Part of your PF money goes into a pension pot. After 10 years of work, it pays you a bit every month from age 58.
Who Gets EPS 95 Pension?
A member qualifies for a monthly pension on these rules:
- Ten years of service. A monthly pension needs at least ten years of eligible service.
- Age 58 for full pension. That is the normal pension age.
- Early pension from 50. It is cut by 4% for each year short of 58.
- Later pension up to 60. Waiting raises it by 4% for each full year after 58.
With less than ten years of service, there is no monthly retirement pension. The member gets a withdrawal benefit worked out from a table in the scheme, or can take a scheme certificate to carry the service to a new job.
Pro Tip
If you leave a job before 10 years and plan to keep working, I’d suggest taking the scheme certificate rather than the withdrawal benefit. Your next job then counts on top of the years you have already served, towards the 10 a pension needs.
EPS 95 Pension Formula
Under the 2026 scheme, the monthly pension is pensionable wages multiplied by pensionable service, divided by 70. Each part has a set meaning:
- Pensionable wages. The average monthly wages over the last 60 months, capped at the wage ceiling for each period.
- Pensionable service. Your years of service. If you retire at 58 with 20 years or more, two bonus years are added.
Take pensionable wages of ₹15,000 and 25 years of service (an example). With the two bonus years, service counts as 27, so the pension is 15,000 x 27 / 70, about ₹5,786 a month.
Where the wage ceiling changed during your service, each period is worked out separately. The EPS pension calculator gives an estimate for your own figures.
EPS 95 Minimum Pension
The minimum pension is ₹1,000 a month, paid since 1 September 2014, and the 2026 scheme keeps it. No increase has been announced.
Unions and others have asked for a higher minimum. In a Rajya Sabha reply of July 2025, the government said the pension fund showed a deficit in its 2019 valuation, and that it pays the ₹1,000 minimum through budget support.
For employers, the pension itself is EPFO’s job. Getting the monthly contribution right is theirs.
Attendo (formerly Petpooja Payroll) is a complete workforce management system for every kind of business, running attendance, shifts, leaves, payroll and statutory filings in one place. Attendo has more than 40,000 users today. It is Software By Petpooja, building helpful products for Indian businesses since 2011.
EPS 95 Pension Latest News
Four points from 2026 matter to members and employers:
- A new scheme. The 2026 scheme replaced the 1995 one on 29 June 2026.
- A higher wage ceiling. From 17 September 2026, the ceiling is ₹25,000, so the employer’s monthly pension contribution can rise from ₹1,250 to ₹2,083.
- More members. People in PF but outside the pension scheme join it if their wages were within the new ceiling on the date the new ceiling was notified.
- Higher pension cases. Members who chose, with their employer, to contribute on higher wages under the 1995 scheme (a joint option) and were approved keep the higher employer rate of 9.49%.
EPS 95 Pension for HR and Owners
For HR and owners, EPS is part of the PF you already pay. The September 2026 changes need four checks in payroll:
- Split the employer’s share correctly. Out of the employer’s PF contribution, 8.33% of wages up to ₹25,000 goes to EPS; the rest stays in the provident fund.
- Add newly covered employees. Some earning between ₹15,000 and ₹25,000 who were outside EPS now join it.
- Keep higher-pension cases apart. Members with an approved joint option for higher pension need the 9.49% rate.
- Report it every month. The PF online payment guide covers the monthly return.
The change touches most where many employees earn in that band: a retail store, a hotel, a manufacturing unit or an IT services firm’s support team.
Where Attendo Fits
The September 2026 changes touch every payroll with employees in between the old and new wage ceilings.
Attendo calculates PF in every payroll run, with the employer and employee contributions, and keeps each employee’s Universal Account Number (UAN) on their record.
The employer PF contribution also supports a Custom Formula field in its compliance settings, for businesses whose policy differs from the default.
If you want PF worked out in every payroll run, attendo shows how it works.
So, How Much EPS 95 Pension Do You Get?
The 1995 scheme has been replaced by the Employees’ Pension Scheme, 2026, but the rules members care about carried over: ten years for a pension, age 58, the same formula and the ₹1,000 minimum.
What changed is the wage ceiling, who is covered and the cap on the government’s own share.
Check your years of service and your average wages, and use the calculator for an estimate.
For employers who want PF worked out in every payroll run, see how Attendo handles it.
Frequently Asked Questions
1. What is the latest news on EPS 95 pension?
2. What is the minimum pension under EPS 95 in 2026?
3. Is EPS pension increasing in 2026?
4. Can I get EPS pension before 58?
5. What happens if I have less than 10 years of service?
6. Is EPS the same as the Employees’ Provident Fund (EPF)?
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