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Expected Doubling of Minimum Pension Under EPS

In a possibly positive development, the finance ministry of India is considering doubling the minimum pension under EPS. If this happens, the minimum pension under Employees Pension Scheme could go up to INR 2000 per month, thereby, benefitting more than 4 million workers. This move to raise the pension is being considered very seriously by the government.

If this pension raise proposal gets approved, the government spend on pensions as per EPS would go up to INR 12,000 crore per annum, which as on today is about INR 9,000 crore per annum. If someone is a part of EPFO (Employees Provident Fund Organisation), that person would become a subscriber to the pension scheme automatically.

Reference Source: Expected Doubling of Minimum Pension Under EPS


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