Pension Hike News- Are you also a pensioner? Then this article is made for you. If you are also expecting an increase in the pension you get after a lifetime of hard work, then you may be a little disappointed to hear the government’s response.
For the last few months, there were constant reports that the minimum pension under the Employees’ Provident Fund Organization (EPFO) could soon be increased from Rs 1,000 to Rs 7,500 per month, as a parliamentary committee and many employee organizations were repeatedly demanding this from the government. According to reports, the government is currently considering this proposal and consultations are being held on the process of implementing it.
No decision has been taken yet on increasing the pension
The government told the Parliament that no final decision has been taken yet on the increase of pension. The government has admitted that there is a constant demand from the pensioners to increase the minimum pension . In the reply given in the Parliament, it was told that earlier in 2014, the minimum monthly pension was made Rs. 1,000 through budgetary support and a review is currently underway on this. But at present, no formal announcement or decision has been made to give a pension of Rs. 7,500 or more.
What are the future possibilities?
The government is currently assessing the committee’s proposal and the budget impact. According to the ministry, whenever a concrete decision is taken, Parliament and the public will be informed about it. This means that in the current situation, pensioners will have to wait a little longer and at present the minimum amount of pension is still Rs 1,000.
The discussion on increasing PF pension is going on in full swing, the recommendations of the parliamentary panel and the demands of the employees are strong, but the government has made it clear in the Parliament that at present no final decision has been taken regarding increasing the amount. The good news for pensioners is that it is being considered, all eyes are on what happens next.