New Delhi: Millions of pensioners are awaiting the Employees Provident Fund Organisation's (EPFO) November 19 meeting, amid reports suggesting that the minimum Employees' Pension Scheme (EPS) pension could increase from Rs 1,000 to Rs 3,000.
The EPFO's 240th Central Board of Trustees (CBT) meeting will now take place in New Delhi instead of Gir, Gujarat.
According to a November 4 communication issued by Regional Provident Fund Commissioner Subrata Bhaumik, the meeting is scheduled for 10:15 am at the EPFO headquarters.
Government Approval Awaited
Media reports suggest that the Labour Ministry has considered raising the minimum monthly pension to ₹3,000 following consultations with the Finance Ministry.
The proposal could reportedly feature as a separate agenda item during the upcoming CBT meeting.
However, neither ministry has officially confirmed the proposed increase or announced any decision.
Consequently, pensioners will have to await an official announcement before expecting higher monthly payments.
Pensioners Demand Rs 7,500
The minimum EPS pension has remained at Rs 1,000 since 2014, despite repeated demands from pensioner associations for an increase.
Employee and pensioner organisations have sought a minimum monthly pension of Rs 7,500, arguing that the existing amount is insufficient to meet essential living expenses.
The Rs 1,000 minimum pension was approved in February 2014 and subsequently notified in August that year.
EPS 2026 Changes
The Employees' Pension Scheme, 2026, reportedly replaced EPS 1995 in July under the Code on Social Security, 2020.
According to the reported provisions, the pensionable wage ceiling increased from Rs 15,000 to Rs 25,000 in September.
Employers contribute 8.33 percent of eligible wages towards the pension fund, subject to applicable limits.
Other reported provisions include settlement of pension claims within 20 days, interest on delayed payments and enhanced digital compliance requirements.
However, these provisions require verification against official notifications.
For now, the November 19 meeting remains crucial, with pensioners hoping for long-awaited financial relief.
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