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Minimum pension of ₹ 1,000/- per month in perpetuity to Pensioners of Employees’ Pension Scheme, 1995

Dated:- 30-4-2015 - The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, gave its approval for continuation of the minimum pension of ₹ 1,000/- per month to the pensioners of Employees Pension Scheme, 1995 (EPS) beyond the finan .....

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crore per year on a tapering basis. Providing a minimum pension of ₹ 1000/- per month is an effort to provide meaningful subsistence to pensioners who have served in the organized sector. The present proposal is likely to benefit approximately .....

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ed on the basis of pensionable service and average of last sixty months wages. If either of them is low, the pension amount will also be low. This is largely seen in cases of employees of seasonal industries. Further, pensioners who were earlier memb .....

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its meeting in February, 2014 accorded approval to the proposal for ensuring a minimum pension of ₹ 1,000/- per month for the pensioners of EPS for the financial year 2014-15 by way of providing budgetary support of ₹ 1217.03 crore. Base .....

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e Gazette Notification dated 19.08.2014 (with effect from 01-09-2014), the Employees Provident Fund Organisation (EPFO) has commenced disbursing the revised pension from the month of September, 2014. The number of pensioners who have been benefited b .....

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