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HomeNewsBusinessPersonal FinanceUsing your pension fund for long-term savings? Learn about PPO number and how to retrieve it

Using your pension fund for long-term savings? Learn about PPO number and how to retrieve it

Recent tax changes have led many investors to look at their Employee Provident Fund (EPF) as a good option for saving money long-term. Those who hold Provident Funds (PF) also want to understand how they’ll get their pension after retirement, making it important to learn about key concepts like the Pension Payment Order (PPO).

September 25, 2024 / 11:51 IST
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The Pension Payment Order (PPO) number is a unique 12-digit code issued by the Employees' Provident Fund Organization (EPFO) to pensioners. This number is crucial for managing all pension-related services, including checking pension status, downloading payment slips, and updating personal details. It also plays a key role when transferring pension payments from one bank to another. Learn how to find your PPO number through the EPFO website or the UMANG mobile.

A PPO number is a unique 12-digit code given to each pensioner by the Employees’ Provident Fund Organization (EPFO). It’s used for all transactions and communication related to pension payments. The PPO number is made up of the issuing authority’s code, the year of issue, a sequence number, and a final digital code.

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Why the PPO Number Matters:

The PPO number helps manage pension-related services, but you can’t use it directly for transferring funds. You’ll need to submit a request to your bank (or pension agency) if you want to transfer pension payments, and they may ask for your PPO number for verification.