EPFO May Review Minimum EPS Pension Hike Demand at November 19 Meeting

The long-standing demand to increase the minimum pension under the Employees’ Pension Scheme (EPS) may come up for discussion at an upcoming meeting of the Employees’ Provident Fund Organisation (EPFO). Reports suggest that the issue could be considered at the Central Board of Trustees (CBT) meeting scheduled to be held in Gujarat on November 19. Pensioners currently receive a minimum monthly pension of ₹1,000, a rate last revised in September 2014. Pensioners’ associations have been demanding an increase to ₹7,500, arguing that the existing amount is inadequate amid rising living costs. However, no official decision on the proposed hike has been announced.

Under the EPS, 8.33% of the employer’s contribution is allocated to the pension fund. The pension amount is calculated using a formula based on pensionable salary and pensionable service. The report also suggests that the government may consider a partial increase rather than the full amount sought by pensioners. Any revision would require an assessment of the additional funds needed and the budgetary support to be provided. The November 19 meeting could therefore be significant, but the final amount and implementation timeline remain uncertain until an official announcement is made.