EPS Pension Calculator
Estimate your monthly retirement income from the Employees' Pension Scheme (EPS) based on your service years and salary history.
Understanding EPS Pension Rules
The Employees' Pension Scheme (EPS) is a portion of the 12% employer contribution that provides a lifetime pension to members after retirement at age 58.
The 10-Year Rule
To be eligible for a monthly pension, you must have completed a minimum of 10 years of eligible service. If you leave before 10 years, you can withdraw the pension amount or get a Scheme Certificate.
The ₹15,000 Wage Ceiling
Even if your actual basic salary is ₹1 Lakh, the EPS contribution is capped at a basic salary of ₹15,000 for most members. This means your pensionable salary in the formula is usually capped at ₹15,000.
Weightage Bonus
Members who complete 20 years of service or more are given a 2-year bonus weightage. For example, if you serve 22 years, your pension will be calculated based on 24 years.
The EPS Formula
Monthly Pension = (Average Salary × Service Years) / 70
Where 'Average Salary' is the average of your basic salary + DA for the last 60 months of service.
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