Government to soon notify minimum Rs 1,000 monthly pension under EPS

Government to soon notify minimum Rs 1,000 monthly pension under EPS

NEW DELHI: Government will soon issue a notification to implement the Budget proposal of
increasing the minimum monthly pension under the EPS-95 scheme to Rs 1,000, Labour Minister Narendra Singh Tomar said.

"My ministry has cleared the proposal and a notification will be issued soon," he said, responding to issues raised during a debate on private member bill on minimum pension for unorganised sector.

On concerns voiced during the discussion on National Minimum Pension (Guarantee) Bill, 2014, moved by Nishikant Dubey, the Minister said government will take steps to identify unorganised workers and prepare schemes to improve their condition.

To suggestion of minimum Rs 5,000 monthly pension for unorganised workers above 60 years, Tomar said when it took 68 years for the government to raise minimum monthly pension for organised worker to Rs 1,000, the members could imagine how much time it would take to raise it to Rs 5, for all workers.

The Budget proposal to raise minimum monthly pension of Rs 1,000 under EPS-95 scheme run by retirement fund body EPFO would benefit 28 lakh pensioners who get less than this amount at present. Tomar said government has been implementing various social sector schemes to provide pension and also other benefits to weaker sections of the society.

As regards the unorganised sector, he said, once government is able to identify them and collect data, it would become possible to frame schemes for their welfare.

Members cutting across party lines supported the Bill on minimum pension, but it was withdrawn following an assurance by the minister that the NDA government is committed to address the problems of unorganised sector workers.

Among those who participated in the discussion include BJP members Anurag Thakur . Jagdambika Pal, Virender Kashyap, P P Chaudhary , Mahendra Nath Pandey and Rama 
Devi, Jay Prakash Narayan Yadav (RJD) and Sankar Prasad Datta (CPI-M).

Source : http://economictimes.indiatimes.com/