EPS Pension Calculator
Estimate your monthly EPS-95 pension from your pensionable salary and years of pensionable service.
How EPS-95 pension works
Of an employer's 12% contribution, 8.33% (capped on a ₹15,000 salary) goes to the Employee Pension Scheme (EPS), not EPF. EPS earns no interest — it funds a lifelong monthly pension after retirement instead of a lump-sum corpus.
You need a minimum of 10 years of pensionable service to draw a regular monthly pension. Pension is normally payable from age 58 (early pension from 50 at a reduced rate).
Pensionable salary is the average of your last 60 months' salary, statutorily capped at ₹15,000/month — unless you have opted for higher pension on actual salary, in which case the cap does not apply.
Worked example
Suppose your pensionable salary (average of last 60 months) is capped at ₹15,000 and you have 30 years of pensionable service. Using the EPS-95 formula:
Monthly Pension = (₹15,000 × 30) ÷ 70 = ₹6,429
If you opted for higher pension on an actual salary of, say, ₹50,000, the same 30 years gives (₹50,000 × 30) ÷ 70 = ₹21,429/month. Service of 20+ years adds a 2-year bonus to pensionable service under the scheme rules.
Frequently asked questions
What is the EPS-95 pension formula?
Monthly Pension = (Pensionable Salary × Pensionable Service) ÷ 70. Pensionable salary is the average of your last 60 months' salary (capped at ₹15,000 unless you opted for higher pension), and pensionable service is your total years of contributory service under EPS.
What is the minimum and maximum EPS pension?
The minimum monthly pension under EPS-95 is ₹1,000. With the statutory ₹15,000 salary cap, the practical maximum is around ₹7,500/month for very long service. Members who opted for higher pension on actual (uncapped) salary can receive substantially more.
How many years of service do I need for a pension?
You need a minimum of 10 years of pensionable service to be eligible for a regular monthly pension. With less than 10 years, you can withdraw the EPS amount as a one-time lump sum instead of a pension.
At what age can I start drawing my EPS pension?
The normal pension age is 58. You can opt for early pension from age 50, but it is reduced by 4% for each year you draw it before 58. Deferring beyond 58 (up to 60) increases the pension.
Why is pensionable salary capped at ₹15,000?
EPS contributions are statutorily calculated on a maximum salary of ₹15,000/month, so pensionable salary is also capped at ₹15,000 by default. If you and your employer opted to contribute on your actual (higher) salary under the higher-pension option, the cap does not apply and your pension is calculated on the actual figure.