EPFO News: After 11 Years, Central Govt May Raise Minimum Monthly Pension for Private Sector Employees — Decision Likely by This Week

EPFO News: After 11 Years, Central Govt May Raise Minimum Monthly Pension for Private Sector Employees — Decision Likely by This Week

New Delhi: Central Government may soon bring festive joy to millions of private sector employees ahead of Diwali. After more than a decade, the minimum monthly pension for employees under the Employees’ Pension Scheme (EPS) of the Employees’ Provident Fund Organisation (EPFO) could finally be increased.

According to reports, the Central Board of Trustees (CBT)—the policy-making body of EPFO—will meet on October 10 and 11 to discuss and decide on this long-pending revision.

Also Read:- Big EPFO News! EPFO raises Auto-Settlement Limit for Advance Claims from Rs. 1 Lakh to Rs. 5 Lakhs, with fast-track disbursal within 72 hours

The Board operates under the Ministry of Labour and Employment, and any decisions made in the meeting will be submitted to the Ministry of Finance for final approval.

Currently, the minimum pension for EPFO subscribers is ₹1,000 per month, a limit set in 2014. Since then, there has been no revision, resulting in dissatisfaction among pensioners and employee unions. Labour organizations have long demanded a substantial hike, seeking a minimum pension of ₹7,500 per month.

However, sources indicate that the CBT is unlikely to accept such a steep hike. Instead, it is considering a revised minimum pension of ₹2,500 per month, which may take effect before the end of this financial year if approved.