`1,000 per month pension now reality
11 July 2014 1:12 AM GMT
The minimum monthly pension of Rs 1,000 under EPS-95 scheme run by retirement fund body EPFO has become a reality and will immediately benefit 28 lakh pensioners who get less than this amount at present.
‘Government is fully committed to the social security and welfare of employees. The government is notifying minimum pension of Rs 1,000 per month to all subscriber members of EPS-95 scheme and has made an initial provision of Rs 250 crore in the current financial year to meet the expenditure,’ Jaitley said. He said, ‘Further, increase in mandatory wage ceiling of subscription to EPS-95 from Rs 6,500 to Rs 15,000 has been made and a provision of Rs 250 crore has been provided in the current budget.’
‘Government is fully committed to the social security and welfare of employees. The government is notifying minimum pension of Rs 1,000 per month to all subscriber members of EPS-95 scheme and has made an initial provision of Rs 250 crore in the current financial year to meet the expenditure,’ Jaitley said. He said, ‘Further, increase in mandatory wage ceiling of subscription to EPS-95 from Rs 6,500 to Rs 15,000 has been made and a provision of Rs 250 crore has been provided in the current budget.’
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