Increase in Minimum Pension Under EPS, 1995
The Ministry of Labour & Employment has received requests from various stakeholders, including trade unions, to raise the minimum pension under the Employees’ Pension Scheme (EPS), 1995 from the current Rs. 1000 per month. The EPS is a social security scheme funded by employer contributions and government support, but it currently faces an actuarial deficit. The government provides a minimum pension of Rs. 1000, in addition to other budgetary support for the scheme.
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