Table B circular:
The Employees’ Pension (Amendment) Scheme, 2024, published in the Gazette of India on June 14, 2024, published by EPFO on 24th Jun 2024 introduces new pension factors for employees retiring between the ages of 35 and 42, amending the Employees’ Pension Scheme, 1995, to recalculate pension benefits for retirees in this age bracket.
The key aspect of the amendment is the insertion of a new table within the Employees’ Pension Scheme, 1995, specifically in ‘Table B’, which outlines the pension factors for employees retiring at different ages. The table provides a factor for every year of age less than 42, starting from age 35. These factors are used to calculate the pension benefits for employees.
The factors are as follows:
| Age Group | Pension Factor |
| Less than 35 | 14.2271 |
| Less than 36 | 15.36555 |
| Less than 37 | 16.59509 |
| Less than 38 | 17.92303 |
| Less than 39 | 19.35722 |
| Less than 40 | 20.90618 |
| Less than 41 | 22.57909 |
| Less than 42 | 24.38586 |
EPFO body is doing necessary modifications in the Application software for handling settlement of pension claims. Till such time Field offices are directed to process such cases through 10D Special.
Table D circular:
The Ministry of Labour and Employment in India has issued a notification on June 14, 2024, published by EPFO on 24th Jun 2024 to amend the Employees’ Pension Scheme, 1995, by replacing Table D with a new table that adjusts the return of contributions on exit from employment based on the proportion of wages at exit for various months of service, with the amendments to be effective from the date of publication in the Official Gazette.
The table starts with 1 month of service and goes up to 113 months, with corresponding proportions of wages at exit. This revised calculation method will not apply to members who attained the age of 58 years before June 14, 2024. In these cases, since their exit from the scheme (upon reaching 58 years) occurred before the notification of the revised Table D, their pension calculations will be based on the previous version of Table D.