Family pension: What is family pension, who is entitled to get it?

Financial stability is very important for any family. In the future, people should not face any problems due to money. That is why people make arrangements for pensions in advance. And keep investing in other places. Talking about pensions, many schemes are also run by the Government of India for this.

So there are other schemes, where people secure their future by investing. One of these is the family pension. What is a family pension? Which members of the family get a family pension? What are the criteria for this? Let us tell you the things related to family pension.

What is a family pension?

There is a provision to give pensions to employees working in any organized sector after 60 years. 12% of DA from the salary of the employees is deposited in their pension fund every month. And the same contribution is also made by the employer. After retirement, a pension is given as a fixed amount. But in the meantime, if the employee dies due to any reason, then the family member is given a pension and this is called a family pension. According to the rules of the Employees Provident Fund Organization (EPFO), if an employee works in a company for 10 years, then he is entitled to get a pension and if he dies during this period, then his family is given a family pension. Who gets a family pension? According to the criteria set by EPFO ​​for giving a family pension, there is a provision to give family pension to the wife or husband of an employee after his death. However, two children are also given benefits in this. If the age of the children is less than 25 years, then in such a situation, both the children are given 25-25 percent of the pension. Whereas the wife is given 50 percent. On the other hand, if the partner of the employee marries again after his death, then the pension given to the children becomes 75 percent. Which is given to them till the age of 25 years. If the children of an employee are physically handicapped, then they are given a 75 percent pension for life. On the other hand, if an employee does not get married and dies, then in such a situation, his parents are given his full pension for life.

(PC: Freepik)