As per Para 12(1) of the Employees’ Pension Scheme (EPS), 1995, a member shall be entitled to:
(a) Superannuation pension if he has rendered eligible service of 10 years or more and retired on attaining the age of 58 years.
(b) Early pension, if he has rendered eligible service of 10 years or more and retired or otherwise ceases to be in the employment before attaining the age of 58 years.
In such cases, the amount of pension shall be reduced at the rate of 4 per cent for every year the age falls short of 58 years.
This information was given by Shri Bandaru Dattatreya, the Minister of State (IC) for Labour and Employment, in reply to a question in Lok Sabha today.