EPF Pension was made mandatory to all PSU Employees since 1995. Now the EPF Pensioners
are facing lot of hardship as they are not aware of the Rules & Regulations of EPF Pension Scheme.
There is no DA or any allowance thus making it a fixed pension. We understand that there is a provision for increase of pension to certain percent for evry 5 years. In such case the pension would have revised not less than 3 times. It is also understood from the news papers that G.O.I is going to increase the minimum pension to Rs. 1000/-. How about the pensioners drawing more than 1000/- ? Since the pension is very meagre the
pensioners are not able to meet their both ends. Can you suggest some remedies that are already available in the scheme itself. Whether there is any provision of increase in pension.
This will help us to write to Govt. for increase of pension for their consideration. Shall be highly grateful for a reply on the above.
Posts / Replies
namaskar.the contents of yr write-up are perfectly allright.Declarations were made when the policy was declared as early as in 1995 itself that it will be revied regarding increase in Pension.So far nothing is done in the matter,except that very recently there was declaration from some one that the Govt.is considering to raise it to minimum Rs.1000.00.But nothing is so far done..
it appears that since most of the people in this scheme are from private employers ,tmhey are not at all united and no body is approaching to the proper form.Wha vis is required is to make an association of such perople and to give a joint and proper representation to the Government saying that when these amounts were deducted from our salaries/wages before many years ,what was the value of rupee and now what is the value of Rupee?Further if the same amount which was blocked for giving us pension shd have been made available to us ,what would have been the amount of interest there on so far.Looking to all these facts,we shd conclude that it will be juducius in all respect that our pension must be revised immediately.Sagar mal pareek
DEAR SH SUBBARAO,
BASICALLY AND PRACTICALLY THE SCHEME IS NO WAY BENEFICIAL TO THE PENSIONERS. AFTER SUCH A LONG SERVICE AND IN THE PRESENT COST OF LIVING , HOW THE GOVT EXPECTS THE PENSIONERS TO LIVE WITH A MEGRE AMOUNT OF LESS THAN RS.1000/-? IF THERE IS NO REVISION ON THE BASIS OF PRICES THEY SHOULD NOT BE COMPULSORILY COVERRED UNDER THIS SCHEME. IT SHOULD BE OPTIONAL AS WELL AS THE PEOPLE SHOULD HAVE BEEN EXPLAINED PROPERLY. EVEN IF WE ASK THE PF OFFICIALS THEY ARE NOT IN A POSITION TO EXPLAIN THE CALCULATION OF THE PENSION.