Govt may tighten norms on EPS withdrawals

NEW DELHI: Government is mulling tightening norms for withdrawals from Employees��� Pension Scheme (EPS), introduced for all subscribers, who joined Employees Provident Fund from November 11, 1995, in order to bridge deficits faced by the scheme.

Although no such formal proposal has been mooted so far, the matter did came up for discussion on a few occasions during past meetings of Central Board of Trustees (CBT). ���Government is planning to do away with the provision of withdrawals of lump sum money from EPS 1995 before or at retirement. The matter has come up on a few occasions during recent CBT meetings, but no formal proposal has been mooted so far,��� a CBT member said.