EPS Pension: Demand to raise minimum pension from ₹1,000 to ₹7,500; here is the government's response in Parliament

EPS Pension: There has been a long-standing demand to increase the minimum pension. The government has now issued a statement regarding this. During the Monsoon Session of Parliament, it was stated that no such decision has been taken yet.

EPS Pension: Employees in both government and private sectors are certainly familiar with the EPFO. Under this umbrella, there is the EPS scheme—a pension plan that provides benefits after retirement. It ensures that you do not have to make drastic changes to your lifestyle post-retirement. Currently, the minimum pension under this scheme is ₹1,000, and the maximum is ₹7,500. However, there has been talk of increasing these amounts for quite some time, and the government has now stated the matter.

Discussion on EPS in Parliament

The Monsoon Session of Parliament is currently underway, featuring discussions on various issues of public interest. Among these, the topic of increasing the EPS amount for employees was also raised. When the issue was raised in the Lok Sabha, Minister of State for Labour and Employment Shobha Karandlaje responded, stating that although many stakeholders have demanded a pension hike, no decision has been taken on the matter so far.

Need to consider pension fund sustainability.

Minister Shobha also noted that the government is providing budgetary support to ensure a minimum monthly pension of ₹1,000 for EPS-95 pensioners. Furthermore, the government remains committed to strengthening social security coverage for EPFO ​​members; however, any decision must take into account the sustainability of the pension fund and future liabilities.

What were the demands of the organizations?

It is worth noting that various stakeholders, including trade unions and public representatives, have repeatedly demanded that the government raise the minimum PF pension from ₹1,000 to ₹7,500. This is because pensioners believe that receiving a mere ₹1,000 as a pension serves no real purpose; it makes managing expenses extremely difficult.