On June 29th 2026 the Ministry of Labour and Employment notified the Employees' Pension Scheme, 2026 (EPS 2026) through Gazette notification G.S.R 527(E), in supersession of both the Employees' Family Pension Scheme, 1971 and the long-standing Employees' Pension Scheme, 1995 (EPS 1995). EPS 1995 which had operated for last three decades under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952. This paper tried to provide a systematic, provision-by-provision comparison of the two schemes across seven dimensions: legal framework, membership, contribution, benefit computation, survivor and family entitlements, governance, and the treatment of international workers. This analysis is doctrinal and comparative and is based on the text and settled provisions of EPS 1995, distinguishing genuine reform from re-labelling. The bottom-line take-away: EPS 2026 is a legal and administrative re-basing and some governance improvements, not a substantive transformation of the pension bargain the pension formula, the 8.33% employer contribution and the Rs 15,000 wage ceiling are all unchanged. What changes is the statutory foundation, 20-day claim-settlement deadline which is backed by penal interest and personal accountability and the codification of the post-2022 higher-pension option and the wage-ceiling-period computation. The paper concludes that the reform significantly enhances procedural fairness and legal clarity while leaving the Ultimate questions of benefit adequacy and coverage beyond the organised sector unresolved.