The Standing Committee of Parliamentarians has urged the government to revise the minimum monthly pension of ₹1,000 for EPFO members, which has remained unchanged since 2014.
The pension was set under the Employees’ Pension Scheme (EPS) of 1995, and while the BJP government credits itself for the 2014 hike, it was actually a decision made by the Congress-led UPA.
In 2014, the BJP criticized the ₹1,000 pension as insufficient, with leaders demanding at least ₹3,000.
Currently, the government spends about ₹980 crore annually on minimum pensions, which needs to be tripled for a meaningful increase.
The government contributes 1.16% of wages (up to ₹15,000 monthly) to the EPS, with allocations set to exceed ₹10,000 crore in 2025-26.
The government claims it can’t bear more financial burden, but feasible suggestions to manage costs have been submitted.
The EPFO is mishandling pension applications, especially for those opting for pensions based on higher wages, causing confusion and delays.
Applicants often receive demand notices for large contributions without clear communication about their pension amounts or arrears.
The online pension calculator provided by EPFO is unreliable, and no official updates are sent to applicants.
Pensioners from exempted establishments face additional issues, with applications for higher pensions being rejected without proper reasons.
The government needs to consult stakeholders, increase pensions, and ensure fair treatment of all pensioners.
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