Family Pension: What is family pension? Who can avail it?

To live a comfortable life after retirement, people often arrange for a pension ahead of time, so that their family does not have to face financial difficulties in difficult times. Family pension is a way to take care of one's family.

The family pension scheme is one in which the pension is transferred to the wife after the death of the husband. This means that the wife is kept as a nominee under the pension scheme. The advantage of this is that if the husband dies after 60 years, then, like the government pension scheme, the wife will be given half the amount of pension i.e., 50%. If the husband dies before 60 years, the wife gets the full pension.

Which family members get the benefit?
EPFO has made a rule for giving family pension. According to the rules, if the age of the children of the employee is less than 25 years, then the two children are also given the benefit of pension. In such a case, both children are given 25-25 percent of the pension. If the children of an employee are physically disabled, then they are given a 75 percent pension for life.

What if someone does not marry?

According to the rules, if an employee does not marry and dies, then in such a case, his parents are given his full pension for life.

Who is covered under the scheme?
This scheme will apply only to those working in the unorganized sector. These include domestic workers, hawkers, drivers, plumbers, tailors, mid-day meal workers, rickshaw pullers, construction workers, garbage pickers, bidi makers, handloom workers, agricultural workers, cobblers, washermen, leather workers, etc.

How much is received?
According to the pension rules, family pension is 30% of the basic salary of a government employee. But it cannot be less than 3500 per month. At the same time, the income of a worker working in the unorganized sector should not exceed Rs 15,000 per month. The eligible person should have a savings bank account and Aadhaar number.