Minimum
Pension – Ministry Of Labour & Employment
Minimum
Pension – Ministry of Labour & Employment
Minimum Pension
The Government has
notified a minimum pension of Rs. 1000/- per month to the pensioners under
Employees’ Pension Scheme (EPS), 1995 vide Notification No. G.S.R. 593 (E),
dated 19th August, 2014 effective from 01.09.2014 for the year 2014-15 which is
continued beyond March, 2015 without any break.
However, no proposal is
under consideration of the Government at present for providing inflation-linked
Dearness Allowance (DA) to pensioners of EPS, 1995. The issue of index-linking
of pension by fully neutralizing inflation was considered by the Expert
Committee constituted by the Government in the year 2009 for review of EPS,
1995 and the same was found not feasible in the case of a funded scheme like
EPS, 1995 wherein the contribution of the employer and Government is at a fixed
rate of 8.33 per cent and 1.16 per cent respectively. Therefore, the value of
benefits cannot be left open-ended by linking it with inflation which is
variable.
This information given by
Shri Bandaru Dattatreya, the Minister of State (IC) for Labour and Employment,
in reply to a question in Rajya Sabha today.
Source : PIB
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