New Delhi, July 10 -- India's statutory pension system is set for a major overhaul with the introduction of the Employees' Pension Scheme (EPS), 2026. Notified under the Code on Social Security, 2020, the new framework aims to modernise the pension system while ensuring that existing EPFO subscribers do not lose any of their accumulated benefits or rights.

The scheme, administered by the Employees' Provident Fund Organisation (EPFO), will continue to provide a monthly pension to eligible employees in the organised sector. While many of the core features remain unchanged, EPS 2026 introduces several important reforms aimed at improving transparency, speeding up claim settlements and encouraging long-term retirement savings.

To ensure a s...