{"id":402039,"date":"2026-04-28T20:09:14","date_gmt":"2026-04-28T20:09:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/402039\/"},"modified":"2026-04-28T20:09:14","modified_gmt":"2026-04-28T20:09:14","slug":"why-errors-in-your-eps-can-hit-your-retirement-income","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/402039\/","title":{"rendered":"Why errors in your EPS can hit your retirement income"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/04\/130578544.jpg\" alt=\"\"\/><\/p>\n<p>Subscribers of the Employees\u2019 Provident Fund (EPF) diligently track the steadily rising balance in their EPF passbook: the combined pool of their own 12% contribution, a part of the employer\u2019s share (3.67%) and the accumulated interest. But its quieter counterpart, the Employees\u2019 Pension Scheme (EPS), rarely gets the same attention. That neglect may prove costly.<br \/>For eligible members, 8.33% of the employer\u2019s contribution is compulsorily diverted to EPS, subject to a wage ceiling. A pension becomes payable at age 58, after 10 years of contributory service is complete. Unlike EPF, however, EPS does not build a visible corpus and cannot be withdrawn as a lump sum. Its low visibility means most employees seldom scan their passbook for EPS entries, allowing errors to slip by that later may lead to serious consequences.<\/p>\n","protected":false},"excerpt":{"rendered":"Subscribers of the Employees\u2019 Provident Fund (EPF) diligently track the steadily rising balance in their EPF passbook: the&hellip;\n","protected":false},"author":2,"featured_media":402040,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[138,207308,207307,39160,63420,207310,31323,207309,246,111,139,69,93909,244,245,19422,207311],"class_list":["post-402039","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-employees-pension-scheme-eps","tag-employees-provident-fund-epf","tag-employees-provident-fund-organisation-epfo","tag-epf-passbook","tag-epfo-guidelines","tag-eps","tag-eps-errors","tag-finance","tag-new-zealand","tag-newzealand","tag-nz","tag-pension-benefits","tag-personal-finance","tag-personalfinance","tag-retirement-income","tag-right-to-information-application"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/402039","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=402039"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/402039\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/402040"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=402039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=402039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=402039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}