EPFOs minimum monthly pension of Rs 1,000 to benefit 32 lakh immediately The governments decision to amend the Employees Pension Scheme, 1995 (EPS-95) run by Employees Provident Fund Organisation (EPFO) to provide a minimum monthly pension of Rs 1,000 will immediately benefit an estimated 32 lakh pensioners who get less than the aforementioned amount. Earlier, estimates of EPFO had suggested that the immediate beneficiaries who were getting less than Rs 1000 every month would be 28 lakh while the total number of pensioners under EPFOs Employees Pension Scheme (EPS-95) of were 44 lakh. Out of the present 49 lakh pensioners of EPS-95 approximately 32 lakh pensioner are drawing less than Rs 1000 per month with a large number of them drawing less than Rs 500 per month, an EPFO order said. Though the entitlement provided by the government under the EPS-95 was made effective on September 1, the pensioners getting less than Rs 1000 per month would be paid this amount from next month onwards. Read more at:
Posted on: Thu, 25 Sep 2014 01:21:25 +0000
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