Hike In Minimum Pension under EPS, Complete Evaluation by 2025
A Parliamentary Standing Committee on Labour, chaired by BJP MP Basavaraj Bommai, has urged the Ministry of Labour and Employment to finish the first-ever third-party evaluation of the Employees’ Pension Scheme (EPS) by end of 2025. The panel also emphasized revising the minimum pension amount of ₹1,000, considering the sharp rise in the cost of living since the scheme’s inception in November 1995.
Summary/Static | Details |
Why in the news? | Hike In Minimum Pension under EPS, Complete Evaluation by 2025 |
Scheme Name | Employees’ Pension Scheme (EPS) |
Administered By | Employees’ Provident Fund Organisation (EPFO) |
Evaluation Status | First-ever third-party evaluation currently underway |
Deadline for Completion | End of 2025 (as recommended by the panel) |
Minimum Pension (Current) | ₹1,000 |
Panel Recommendation | Urgently raise minimum pension and complete evaluation on time |
Committee Head | BJP MP Basavaraj Bommai |
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