New EPS Scheme 2026: How Withdrawal Benefit Is Calculated Before Pension Eligibility

New EPS Scheme Withdrawal Benefit 2026: EPF members can now get pension under the Employees’ Pension Scheme, 2026 if they finish at least 10 years of service. The official scheme says a member becomes eligible for monthly pension only after rendering not less than 10 years of eligible service. It also says early pension is for members who have completed 10 years and then retire or leave work before superannuation. The scheme was notified in the Gazette on June 29, 2026, and the text says it is effective from the date of publication.

What happens if someone leaves before 10 years?

If a member leaves work before finishing 10 years, the person does not get monthly pension yet. Instead, the member can choose a withdrawal benefit or a scheme certificate.

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The Gazette says, “Where a member has not rendered the eligible service specified in sub-paragraph (1) of paragraph 12, on the date of exit, or on attaining the age of superannuation, whichever is earlier, such member shall be entitled to a withdrawal benefit as laid down in Table-IV or may opt to receive the scheme certificate, provided the member has not attained the age of superannuation…” That means the money is not lost. It is handled in a different way under the scheme.

There is one big change in the new rule. The withdrawal benefit cannot be taken right away after leaving the job. The rules say the member becomes eligible only after 36 months from the date on which the last contribution became due, or on reaching superannuation age, whichever comes earlier. The same rule is also written in the Gazette.

Table IV: Return of contribution on exit from the employment

Months of service	Proportion of wages at exit
1	0.08
2	0.17
3	0.25
4	0.33
5	0.42
6	0.51
7	0.60
8	0.68
9	0.77
10	0.85
11	0.94
12	1.02
13	1.10
14	1.18
15	1.26
16	1.34
17	1.42
18	1.51
19	1.59
20	1.67
21	1.75
22	1.83
23	1.91
24	1.99
25	2.07
26	2.16
27	2.24
28	2.32
29	2.40
30	2.49
31	2.57
32	2.65
33	2.73
34	2.82
35	2.90
36	2.98
37	3.06
38	3.15
39	3.23
40	3.32
41	3.40
42	3.49
43	3.57
44	3.65
45	3.74
46	3.82
47	3.91
48	3.99
49	4.08
50	4.16
51	4.25
52	4.33
53	4.42
54	4.51
55	4.59
56	4.68
57	4.76
58	4.85
59	4.93
60	5.02
61	5.11
62	5.20
63	5.28
64	5.37
65	5.46
66	5.55
67	5.63
68	5.72
69	5.81
70	5.90
71	5.98
72	6.07
73	6.16
74	6.25
75	6.34
76	6.42
77	6.51
78	6.60
79	6.69
80	6.78
81	6.87
82	6.95
83	7.04
84	7.13
85	7.22
86	7.31
87	7.40
88	7.49
89	7.58
90	7.68
91	7.77
92	7.86
93	7.95
94	8.04
95	8.13
96	8.22
97	8.31
98	8.41
99	8.50
100	8.59
101	8.68
102	8.78
103	8.87
104	8.96
105	9.05
106	9.15
107	9.24
108	9.33
109	9.33
110	9.33
111	9.33
112	9.33
113	9.33
114	9.33
115	9.33
116	9.33
117	9.33
118	9.33
119	9.33
120	9.33

Source: EPS 2026

How the Withdrawal Amount works?

The return amount is based on the number of months worked. The notified Table IV in the Gazette gives a proportion of wages at exit for each month of service. For 36 months, the factor is 2.98. For 34 months, it is 2.82.

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So the old example in the draft does not match the official 2026 table for 36 months. If someone left after 36 months and the exit wage was ₹15,000, the calculation would be ₹15,000 × 2.98 = ₹44,700 under the notified table.

Scheme Certificate

A member can also choose a scheme certificate instead of taking the withdrawal money. This is useful if the person gets another covered job later. The Gazette says earlier service shown in the scheme certificate can be counted together with the new service spell. So the old service does not go waste if the member joins another EPS-covered job in future.