EPS-95 pensioners meet Finance Minister Nirmala Sitharaman with request to raise monthly pension from Rs 1,000 to a minimum of Rs 7,500; also request hike in DA and free medical treatment for both pensioners and spouses
January 18, 2025 – A delegation of EPS-95 pensioners recently met Finance Minister Nirmala Sitharaman as part of a pre-budget consultative meeting, according to reports. Their request was for raising their monthly pension to a minimum of Rs 7,500. Additionally, they also requested hike in the Dearness Allowance (DA) and free medical treatment for both pensioners and their spouses.
EPF members contribute 12% of their basic pay towards the Employees' Provident Fund (EPF), while employers also match this contribution to the retirement benefits fund. From the employer’s contribution, 8.33% is directed to the Employees' Pension Scheme (EPS) while 3.67% goes towards EPF.
At the moment, the minimum pension has been fixed at Rs 1,000 per month for EPS-95 pensioners who are beneficiaries of the EPS of 1995. The scheme is a part of the EPF, a social security programme for workers in India.
As per reports, the government could consider acting on the appeal by the private sector employees who have cited rising cost of living as the reason behind their demand. The FM assured the EPS-95 National Agitation Committee that the demands would be reviewed.
Meanwhile, trade unions also met the FM during the session, but they have suggested a modest increase to Rs 5,000 per month. This has sparked a debate from the EPS-95 National Agitation Committee which deemed the amount as insufficient to meet the basic needs of pensioners.
The pension body has claimed that despite the 2014 government announcement of setting the minimum monthly pension at Rs 1,000, more than 36.60 lakh pensioners still receive less than this amount. If the government raised the amount to Rs 7,500, it would ensure that everyone entitled to the correct amount gets it.
Source: Media Reports
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