The discussion on improving the Employees’ Provident Fund Organisation (EPFO) pension officially began on April 2, 2025. Pensioners and labor unions are pressing for a significant increase in the minimum pension amount to help retirees meet their daily expenses.
Current EPFO Pension Scenario
At present, the minimum pension under the Employees’ Pension Scheme (EPS) is set at ₹1,000 per month. This amount was fixed in 2014 and has not been increased since. Given the rising cost of living, pensioners argue that this ₹1,000 is insufficient to meet even basic needs like food, healthcare, and utilities.
Demands for Pension Increase
Pensioners’ associations and trade unions have demanded an increase in the minimum pension. Their primary requests include:
- Increasing the pension from ₹1,000 to ₹7,500 per month.
- Adding Dearness Allowance (DA) to adjust for inflation.
In some areas, the demand is even higher. EPFO pensioners in Nashik held protests outside the local EPFO office, urging the government to raise their pension from ₹1,000 to ₹9,000 per month. They argued that it is impossible to survive on ₹1,000 and called for additional benefits such as free medical care and inclusion in the government’s food security schemes.
Government and Parliamentary Response
The Parliamentary Standing Committee on Labour has acknowledged these demands. The committee has recommended that the central government revise the minimum pension significantly, considering the sharp rise in costs of living since 2014.
To address pensioners’ concerns, the Central Board of Trustees (CBT), EPFO, has scheduled a meeting on February 28, 2025. This meeting will discuss important matters such as:
- The interest rates on provident fund deposits for the financial year 2024-25.
- The possible increase in the minimum EPFO pension.
Conclusion
The demand for a higher EPFO pension highlights the urgent need to support retired employees, many of whom are struggling financially. While the government is considering measures to improve pension benefits, many pensioners are still waiting for a comprehensive solution. The upcoming EPFO board meeting will play a crucial role in determining whether pensioners get the much-needed increase in their monthly pension.