New Delhi, July 8 -- The Ministry of Labour and Employment notified the Employees' Pension Scheme (EPS) 2026 on 29 June. This new scheme has replaced the EPS-1995 and 1971 Family Pension Scheme under the Code of Social Security, 2020.

For about 6 crore EPFO subscribers, it is natural to wonder whether their retirement planning needs a fresh impetus and how the maths behind it has changed. The short answer is that the core pension formula and the 10-year eligibility rule continue to remain the same.

Therefore, to qualify for a lifelong monthly pension, an employee must complete 10 years of pensionable service and reach the retirement age of 58, with an early reduced pension option also available to aspiring subscribers from age 50. In ca...