Pension Hike: The general public will soon get a big good news from the central government. It is expected that in the next few months, the government will make changes in the Employees’ Pension Scheme (EPS), which will directly benefit the citizens. This will be a good opportunity for crores of employees working in the private sector. Currently, the minimum pension amount under the Employees’ Pension Scheme is Rs 1,000 per month, which the government is now considering increasing 3 times.
Let us tell you that no change has been made in the amount of the Employee Pension Scheme for the last several years. In such a situation, now emphasis is being laid on increasing the amount of this scheme. BJP MP Basavaraj Bommai has also raised this issue and recommended the Ministry of Labour to increase the minimum pension. So that every private employee can also get the benefit of a facility like pension.
What is EPS ?
EPS i.e. Employees’ Pension Scheme is a retirement scheme, which is operated by the Employees’ Provident Fund Organization (EPFO). This scheme was started by the Government of India for the employees working in the organized sector so that they can get regular monthly pension after retirement. The government started this scheme so that people from the private sector can also live their future life comfortably.
demand for increase in pension
For the last several years, there was a demand by pensioners to increase this amount. The total fund of the scheme is more than Rs 8 lakh crore. Also, in the year 2020, the Ministry of Labor had sent a proposal to increase it to Rs 2,000, which was not approved by the Finance Ministry. About 186 institutions across the country are included under the EPF-95 scheme. At the same time, even before the budget of the year 2025, EPS pensioners had demanded from the Finance Minister to increase it to Rs 7,500, but now it seems that there is scope for increase in this amount.