Saturday, 17 March 2018

Pensioners Minimum Monthly Payment to be hiked to Rs. 2000

We are aware that EPFO has began with a minimum monthly pension of Rs. 1000 from September 1, 2014 under Employees Pension Scheme 1995.

However Parliamentary Panel has urged
the Centre that Pension amount is much low in these days where it couldn't be affordable for the pensioner to meet their basic needs. Centre is planning to roll out Rs. 2000 to pensioners soon. As of the daily " EPFO has been conferred with the task of calculating the total cost together with the number of beneficiaries in case the proposal goes through"

Right now 60 lakh pensioners, 40 lakh receive monthly pension of less than Rs. 1500 while others receive a maximum of Rs. 2000-2500 monthly. 

Centre to bare Rs. 1600 crore for implementing minimum monthly payment hike to Rs. 2000 and benefits to 40 Lakh Pensioners in the country. Panel has reportedly suggested that the Centre should make a policy for the workers who didn't get employers contribution to social security schemes and ESIC. 


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