Rs 1,000 minimum pension under EPS to continue: Govt
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Rs 1,000 minimum pension under EPS to continue: Govt

The decision to continue with the pension on perpetual basis was taken at a meeting of the Cabinet chaired by Prime Minister Narendra Modi in New Delhi, an official release said.

IANS   
  • New Delhi,  April 29, 2015  
  • |  
  • UPDATED   14:31 IST
Rs 1,000 minimum pension to continue

The Cabinet on Wednesday approved the continuation of Rs 1,000 minimum monthly pension for pensioners under the Employees' Pension Scheme beyond the financial year 2014-15.

Currently, it is effective only up to March 2015.

The decision to continue with the pension on perpetual basis was taken at a meeting of the Cabinet chaired by Prime Minister Narendra Modi in New Delhi, an official release said.

The Cabinet also approved corresponding grant of continuous annual budgetary support for implementing the minimum pension, which will be to the tune of Rs 850 crore per year on a tapering basis.

The present proposal is likely to benefit approximately 20 lakh pensioners.