A parliamentary committee has asked the Center to increase the minimum EPS pension

People protested under the banner of National Mission of Old Pension Yojana India during the Pension Jayagosh Maharali at Jantar Mantar in New Delhi on Sunday. | Photo credit: Sushil Kumar Verma

The Parliamentary Standing Committee on Labour, headed by senior BJP leader Basavaraj Bommai, has recommended the Center to raise the minimum pension paid by the Employees Provident Fund Organization (EPFO) under the Employees Pension Scheme (EPS) by ₹ 1,000. Trade unions and pensioners have been demanding an increase in the minimum pension for a long time.

In its report tabled in Parliament on Monday (December 16, 2024), the panel noted that more than a decade has passed since the minimum pension of ₹1,000 per month was implemented. “Considering the multi-fold increase in the cost of living in 2024 as compared to 2024 and other relevant factors, the Committee feels that there is a need, as various stakeholders have put before the Committee during oral evidence held in 2023. “Seriously consider considering an upward revision of this amount,” it said.

“Despite the financial implications, the Committee wishes to approach the Ministry/EPFO to reach an amicable solution to sympathetically take up this important task with a sense of urgency in the larger interest of the affected pensioners and their family members,” the report said. added

Under EPS, the Union Government contributes 1.16% with a wage ceiling of ₹ 15,000 per month. Subsidized assistance is also given to reimburse the difference between the minimum pension of ₹ 1,000 and the actual member pension. “During the year 2023-24, from April 1, 2023 to March 31, 2024, the total number of pensioners receiving minimum pension of Rs 1,000 per month was 20,64,805 and those receiving minimum pension of Rs 1,000 per month The total grant-in-aid was ₹ 957.55 crore,” the panel noted.

‘Enforce the Labor Code’

Noting that four labor codes are yet to be enacted, the report said Meghalaya, Nagaland, West Bengal and Lakshadweep have not yet pre-published rules on wage codes. Meghalaya, West Bengal, Andaman and Nicobar Islands, Lakshadweep and Delhi have not pre-published occupational safety, health and working conditions in the Code; Meghalaya, Nagaland, West Bengal, Lakshadweep and Delhi have not pre-published Industrial Relations Code, 2020; And Meghalaya, Tamil Nadu, West Bengal, Lakshadweep and Delhi have not pre-published Social Security Code rules.

“Keeping in mind the fact that it is a statutory obligation on the States/UTs to formulate rules, to carry out the provisions of the Code, the Committee urges the Ministry to intensify their efforts and vigorously pursue this issue with all the States/UTs. And ensure Ensure that follow-up work i.e. scrutiny of drafts, etc. as required by the Law Ministries/State Law Departments is also completed in a timely manner to ensure that the four Labor Codes are brought into force at the earliest. Be done,” the report said.