Increase in Minimum Pension under EPF: Lok Sabha QA

Increase in Minimum Pension under EPF – Recommendation of Parliamentary Standing Committee: Lok Sabha QA

GOVERNMENT OF INDIA
MINISTRY OF LABOUR AND EMPLOYMENT
LOK SABHA
UNSTARRED QUESTION NO. 1965
TO BE ANSWERED ON 19.12.2022

INCREASE IN MINIMUM PENSION UNDER EPF

1965. SHRIMATI CHINTA ANURADHA:

Will the Minister of LABOUR AND EMPLOYMENT be pleased to state:

(a) whether it is true that the Parliamentary Standing Committee on Labour has recommended increase in minimum pension under EPF;

(b) whether the Government had any discussion in regard with the Finance Ministry and other stakeholders; and

(c) whether the Government has taken any steps to increase such minimum pension and if not, the reasons therefor?

ANSWER

MINISTER OF STATE FOR LABOUR AND EMPLOYMENT
(SHRI RAMESWAR TELI)

(a) to (c): Yes, Sir. The Government, for the first time, in the year 2014, provided a minimum pension of Rs.1,000/- per month to the pensioners under the Employees’ Pension Scheme (EPS), 1995 by providing budgetary support, which was in addition to the budgetary support of 1.16% of wages provided annually towards EPS to Employees’ Provident Fund Organisation (EPFO).

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Source: Lok Sabha