Minimum EPS Pension Enhanced from Today

Published: 01st October 2014 06:01 AM  |   Last Updated: 01st October 2014 06:01 AM   |  A+A-


HYDERABAD: A system will be introduced wherein monthly pensions will be credited directly into the bank accounts of pensioners, Union minister for urban development M Venkaiah Naidu has said.

“The prime minister wants the system to be introduced so that pensioners need not wait, bribe anybody or run around departments,” Naidu said at a function here on Tuesday on the eve of enhancement of minimum monthly pension to Rs 1,000 under the EPF Scheme, 1995.

The function was organised by the Employee’s Provident Fund Organisation (EPFO).

The central government has increased the minimum monthly pension to Rs 1,000 under Employees Pension Scheme 1995, and it will be disbursed to beneficiaries from October 1.

Many beneficiaries who attended the function were earlier receiving a paltry pension ranging from Rs 7 to Rs 250 per month. Appalled at this, Venkaiah Naidu said the enhanced pension would benefit around 32 lakh out of the 49 lakh EPS pensioners. In Hyderabad, around 59,000 out of 1.20 lakh such pensioners, who were drawing less than Rs 1,000 per month, will benefit immediately. Secunderabad MP Bandaru Dattatraya said he would request the Telangana government to  provide pension to outsourcing employees working in government departments. “I request EPFO officials to increase pension coverage to construction workers and others who are not part of central or state government. They will benefit if they are covered by the pension scheme,” he said.

Additional central PF commissioner KV Sarveswaran and other EPFO officials were present.


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