EPFO's minimum monthly pension of Rs 1,000 to benefit 32 lakh immediately
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EPFO's minimum pension of Rs 1,000 to benefit 32 lakh

Earlier, estimates of EPFO had suggested that the immediate beneficiaries who were getting less than Rs 1,000 would be 28 lakh.

 PTI   
  • New Delhi,  September 25, 2014  
  • |  
  • UPDATED   15:20 IST
EPFO's minimum pension of Rs 1,000 to benefit 32 lakh
(Photo: Reuters)

The government's 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 EPFO's 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.

In a bid to make the event a memorable one, EPFO has asked its field offices to organise a facilitation programme on September 30.

The EPFO head office wants the field formation to invite and felicitate those people who were issued the oldest pension payment order (PPO) by the respective offices and were paid the least amount under the EPS-95.

The field officers have also been asked to participate in radio and TV programmes on social security to create awareness about the government's initiative.

The order also provides that the field office will incur expenditure on the facilitation function under the head of publicity. Moreover if the additional funds are required under the head, the matter may be taken up with the Finance Wing at the head office, the order said.

The field offices are to make an impact through this felicitation function and invite 100-150 pensioners.

Besides, the field offices would have a separate time slot for redressing grievances of pensioners and pension claim applicants during the event.