EPF Pension: Eligibility, Calculation, and Why Your Service Record Matters

• The Employees’ Pension Scheme (EPS) provides a monthly pension after retirement, funded by a portion of the employer's EPF contribution.
• Eligibility for a lifelong monthly pension requires at least 10 years of pensionable service and reaching age 58.
• Monthly pension is calculated using a fixed formula: (Pensionable salary × Pensionable service) ÷ 70, with pensionable salary often capped at a statutory ceiling.
• Withdrawing PF before completing 10 years of service results in a one-time withdrawal benefit from EPS instead of a monthly pension.
• Preserving pensionable service through proper PF transfers during job changes is crucial for maximizing EPS benefits.

Why It Matters: Your EPS pension is a vital, often overlooked, retirement income foundation.