After framing of the Pension Scheme under the Employees' Provident Fun

After framing of the Pension Scheme under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952, a pension fund shall be established as soon as possible. The establishment of the Pension Fund shall lead to cessation of which of the following ?

Employees' Pension Scheme

Employees' Deposit Linked Insurance Scheme

Family Pension Scheme

None of the above

Answer is Right!

Answer is Wrong!

This question was previously asked in

UPSC CISF-AC-EXE – 2023

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The correct option is C. Upon the establishment of the Employees’ Pension Fund under the 1995 Scheme, the existing Family Pension Scheme ceased to operate.

The Employees’ Pension Scheme, 1995, was introduced to replace the Employees’ Family Pension Scheme, 1971. All assets and liabilities of the Family Pension Fund were transferred to the new Pension Fund, and the Family Pension Scheme consequently ceased to exist.

The Employees’ Deposit Linked Insurance (EDLI) Scheme is a separate scheme under the EPF Act, providing life insurance cover. It was not replaced by the Employees’ Pension Scheme. The Employees’ Provident Fund itself also continues to exist alongside the Pension Scheme.

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