<p>New Delhi: The Parliamentary Standing Committee on Labour has recommended that the Centre increase the minimum pension of Rs 1,000 paid by the Employees Provident Fund Organisation (EPFO) under its Employees Pension Scheme (EPS).</p><p>The panel headed by senior BJP leader Basavaraj Bommai in its report tabled in Parliament said that over a decade has passed since the minimum pension of Rs.1000 per month is being provided to the<br>pensioners.</p><p>“Considering the manifold increase in the cost of living in 2024 vis-a-vis 2014 and other relevant factors, as put before the Committee by various Stakeholders during their oral evidences held in the year 2023, the Committee feel that there is a need to seriously look into the aspect of considering an upward revision of this amount,” the panel said.</p>.Govt should implement enhanced pension EPS-95 immediately: Premachandran.<p>“Notwithstanding the financial implications involved, the Committee desires the Ministry/EPFO to take up this significant task sympathetically with a sense of urgency in the larger interest of the affected pensioners and their family members so as to arrive at an amicable solution,” the panel said.</p><p>During 2023-24, the total number of pensioners getting a minimum pension of Rs. 1000 per month was 20,64,805, the report said.</p><p>While appreciating the EPFO's Centralized Pension Payment System, which is proposed to be rolled out across the country January 1, 2025, the Committee noted that "this initiative will enable 80 lakh pensioners to withdraw their pension from any bank rather than being restricted to a few banks." The Committee also suggested the EPFO’s to take steps to speedy disposal of claims through a transparent mechanism as well as for redressing the grievances of pensioners in a time bound manner.</p>
<p>New Delhi: The Parliamentary Standing Committee on Labour has recommended that the Centre increase the minimum pension of Rs 1,000 paid by the Employees Provident Fund Organisation (EPFO) under its Employees Pension Scheme (EPS).</p><p>The panel headed by senior BJP leader Basavaraj Bommai in its report tabled in Parliament said that over a decade has passed since the minimum pension of Rs.1000 per month is being provided to the<br>pensioners.</p><p>“Considering the manifold increase in the cost of living in 2024 vis-a-vis 2014 and other relevant factors, as put before the Committee by various Stakeholders during their oral evidences held in the year 2023, the Committee feel that there is a need to seriously look into the aspect of considering an upward revision of this amount,” the panel said.</p>.Govt should implement enhanced pension EPS-95 immediately: Premachandran.<p>“Notwithstanding the financial implications involved, the Committee desires the Ministry/EPFO to take up this significant task sympathetically with a sense of urgency in the larger interest of the affected pensioners and their family members so as to arrive at an amicable solution,” the panel said.</p><p>During 2023-24, the total number of pensioners getting a minimum pension of Rs. 1000 per month was 20,64,805, the report said.</p><p>While appreciating the EPFO's Centralized Pension Payment System, which is proposed to be rolled out across the country January 1, 2025, the Committee noted that "this initiative will enable 80 lakh pensioners to withdraw their pension from any bank rather than being restricted to a few banks." The Committee also suggested the EPFO’s to take steps to speedy disposal of claims through a transparent mechanism as well as for redressing the grievances of pensioners in a time bound manner.</p>
