The Employees’ Pension Scheme (EPS-95) was mainly formulated for the maintenance of retired employees under the Employees’ Provident Fund Organisation (EPFO). The clamour for raising the minimum pension to ₹9,000 mark has grown tremendously. But is this a long-awaited development or an overplayed demand? Let’s throw some light in this regard.
Present Scenario Of EPS-95 Pension
EPS was designed to ensure that organized-sector employees live a respectable life after retirement. Today, ₹1,000 is the minimum pension an EPS-95 pensioner receives, which is criticized for being an amount too far below sustenance standards. On many occasions, pensioners have found it very difficult to sustain themselves; such demand for raising the pension amount has been in the air almost since the very beginning.
Demand For A ₹9,000 Pension
Different associations of pensioners and labor unions have been stressing the need for the government to increase the minimum pension to ₹9,000 per month, considering that this minimum must protect the financial future of retirees, especially those with that pension living standard for their support. What looks to them as justification for living today.
Moreover, it has been asked and is stressed by pensioners to also give other special benefits along with the demand of ₹9,000 as a pension which includes the areas of providing maximum Dearness Relief (DR) and medical allowances. Many political leaders and social welfare organizations support the above demands.
Government Stand
The seriousness with which the government has viewed the matter is evident and one such view is that, however, no suitable notification has been made on the increase to a minimum of ₹9,000 for EPS-95 pensioners. The Central Government along with EPFO is deliberating over the financial implications if such upward changes were to be effected. In addition, talks are being held to even out the compensation to pensioners against the obligations on the pension fund.
What Next?
If the pension of ₹9,000 goes into effect, it will bring financial relief to over 65 lakh pensioners in India. Interestingly, pensioners are also advised to keep their ears open to any announcements from EPFO and Ministry of Labour and Employment to avoid being victors of misinformation.
Conclusion
An amendment raising the EPS-95 minimum pension to ₹9,000 surely still stands strong as a demand but remains unrecognized yet. Pensioners should cling to hope now for an affirmative outcome soon. They should keep themselves updated about the happenings and take news only from authenticated sources.
Also Read: Unified Pension Scheme 2025: New Rules For Employees Salary, Pension, And Allowances