InvestorQ : Modi government is planning to double minimum pension under EPS for workers, please explain!
Niraj Mehta made post

Modi government is planning to double minimum pension under EPS for workers, please explain!

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Roshni Hegde answered.
1 year ago


Government’s new proposal on hiking the minimum pension is likely to get on the swing soon. Approx 60 lakh pensioners under the Employees' Pension Scheme (EPS), managed by the Employees' Provident Fund Organization, around 40 lakh will be benefited by this plan. It has been reported that the finance minister’s collection of the pension fund is about Rs.3 lakh. Also, if the pension is doubled as per this new proposal the government is likely to spend Rs. 12000 crore p.a. from Rs. 9000 crore p.a.

According to sources, the government is proposing to double the minimum pension under EPS-95 from the level of Rs 1,000 per month set in September 2014. The proposed plan will raise the pension up to Rs. 2000 from Rs.1500 per month. However, A high-level labor committee has put forth a proposal to raise the pension, which is being “actively” considered by the finance ministry.


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Sandeep yadav answered.
1 year ago


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