PF employees are going to suffer, minimum pension may increase from Rs 1000 to Rs 6500.

News India Live, Digital Desk: A very good news is coming for crores of PF employees and pensioners across the country. If all goes well, there could be a big increase in the minimum monthly pension received under the Employees’ Pension Scheme (EPS-95). The government is seriously considering the proposal to directly increase the minimum pension from the current ₹1000 to ₹6500. If this decision is implemented, it will be a huge relief for lakhs of families dependent on pension in this era of inflation.

Why is this change happening?

Currently, employees covered under EPS-95 get a pension of at least ₹ 1000 every month after retirement. Pensioners’ unions and employees’ organizations have been demanding for a long time that in today’s time an amount of ₹ 1000 is insufficient to run a household. Keeping in view the rising inflation and medical expenses, this amount should be reduced to at least ₹7500.

Government formed high-level committee

Keeping in view this old demand of the employees, the government has constituted a high-level committee. This committee is assessing how much the pension can be increased and how much impact it will have on the government exchequer. According to sources, after considering all the aspects, the committee has suggested increasing the minimum pension to ₹ 6500 per month.

What are the big points of this proposal?

• How much will pension increase: It may increase from the current ₹1000 to ₹6500 per month, i.e. an increase of more than 6 times.
• Burden on government exchequer: Implementation of this increase is estimated to impose an additional financial burden of about ₹40,000 crore on the government every year.
• Final decision pending: A final decision is yet to be taken on the recommendations of the committee. This proposal requires approval from the Finance Ministry and the Central Board of Trustees of the Employees Provident Fund Organization (EPFO).

When can the announcement be made?

Although no official date has been revealed yet, it is expected that the government may take a positive decision on this soon. This decision will bring a big change in the lives of lakhs of elderly people of the country who are completely dependent on pension for their needs.