News by Darshana Jamindar
As a Social Security Measure in Inida, minimum monthly pension of Rs 1000 and higher wage ceiling of Rs 15000 will be introduced from September 1, was informed by EPFO,Employees’ Provident Fund Organisation. 28 lakh pensioners will be benefitted by the scheme.
The government’s decision to fix pension entitlement of Rs 1,000 under the Employees’ Pension Scheme 1995 (EPFS-95) will immediately benefit 28 lakh pensioners who get less than this amount at present.
EPFO official also said that in case an EPFO subscriber dies, his family will be entitled to maximum sum assured of Rs 3.6 lakh instead of existing Rs 1.56 lakh.
The decision will immediately benefit about 28 lakh pensioners, including 5 lakh widows. In all, there are 44 lakh pensioners under the EPFO scheme.
