EPFO May Raise Minimum Pension from Rs. 1,000 to Rs. 3,000

The Central Government is reportedly considering a significant increase in the minimum pension provided under the Employees’ Pension Scheme (EPS), bringing relief to millions of pensioners across the country. The Employees’ Provident Fund Organisation (EPFO) is examining a proposal to raise the existing minimum monthly pension from Rs. 1,000 to Rs. 3,000.

The proposal is expected to be discussed at the EPFO’s Central Board of Trustees (CBT) meeting scheduled for November 19. The Labour Ministry has reportedly expressed a positive view after consultations with the Finance Ministry.

Currently, around 81.48 lakh people receive EPS pensions across India, of whom approximately 73.55 lakh receive less than Rs. 3,000 per month. Telangana alone has more than five lakh pensioners who could benefit from the proposed revision.

The minimum pension was fixed at Rs. 1,000 in 2014, when the wage ceiling was increased from Rs. 6,500 to Rs. 15,000. However, rising inflation and healthcare expenses have strengthened demands from trade unions for a substantial increase. The recent revision of the wage ceiling from Rs. 15,000 to Rs. 25,000 has further intensified these demands.

In 2014, the government introduced the minimum monthly EPS pension of Rs. 1,000 to provide financial security to retired employees. More than a decade later, rising living costs have made a revision increasingly necessary. If approved, the proposed hike could improve financial stability and dignity for millions of senior citizens.

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