Will Pension Limit Be Raised From Current Rs 1,000 To Rs 7,500

According to the pensioners’ body, the EPS-95 Agitation Committee, Union Labour Minister Mansukh Mandaviya has assured prompt action on pensioner’s demand, including a minimum pension under EPS-95. The pensioners’ body stated in a statement that among its many demands are the correction of faults in the application for higher pension benefits and the provision of free medical services for retirees and their spouses.

What are the demands of the pensioner’s body?

The pensioners’ body is calling for the current Rs 1,000 pension to be raised to Rs 7,500. The pensioners also demand that dearness allowance (DA) be included. They are demanding the provision of free medical services for retirees and their spouses. Further they are demanding correction of faults in the application for higher pension benefit.

What is the government’s stance on the demands of pensioners?

According to the statement, the Center has adopted a favorable stance regarding the long-standing requests of more than 78 lakh pensioners nationwide who are covered by EPFO. According to the statement, the minister assured the group that these problems will be resolved quickly.

The recent talks with the Center have raised hopes that the minimum pension under EPS-95 would finally be revised after 10 years, the pensioner’s body, which has long fought for the rights of pensioners, said.

Will 2025 see an increase in the minimum pension?

In a previous meeting with Finance Minister Nirmala Sitharaman, a group of EPS-95 retired employees demanded that the basic pension be raised to Rs 7,500 per month and that dearness allowance (DA) be included. The Finance Minister assured the group that their requests will be considered, the pensioners’ body said.

Interest rate on provident fund deposits For 2024-25

Meanwhile, the EPFO Employees’ Provident Fund Organisation (EPFO) on Friday announced the interest rate on employees’ provident fund deposits for 2024-25.

In a crucial meeting of the Central Board of Trustees (CBT), the regulatory body has decided to retain interest rate of 8.25 per cent on employees’ provident fund (EPF) deposits for 2024-25.

After the CBT’s decision, the interest rate on EPF deposits for 2024-25 will be sent to the Ministry of Finance for concurrence.

After the government’s ratification, the interest rate on EPF for 2024-25 will be credited into accounts of over seven crore subscribers of EPFO.

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