EPF PENSION

[DURGAVADHYULA SUBBA RAO]

EPF Pension was made mandatory to all PSU Employees since 1995. Now the EPF Pensioners

are facing lot of hardship as they are not aware of the Rules & Regulations of EPF Pension Scheme.

There is no DA or any allowance thus making it a fixed pension.  We understand that there is a provision for increase of pension to certain percent for evry 5 years.  In such case the pension would have revised not less than 3 times.  It is also understood from the news papers that G.O.I is going to increase the minimum pension to Rs. 1000/-.  How about the pensioners drawing more than 1000/- ?  Since the pension is very meagre the

pensioners are not able to meet their both ends.  Can you suggest some remedies that are already available in the scheme itself.  Whether there is any provision of increase in pension.

This will help us to write to Govt. for increase of pension for their consideration.  Shall be highly grateful for a reply on the above.

 

D.SUBBA RAO

AI Summary

Concerns Raised Over Fixed EPF Pension Scheme, Calls for Revisions and Increased Transparency Under Section 1995. The discussion highlights concerns about the EPF Pension Scheme, mandatory for PSU employees since 1995, which lacks allowances and remains fixed, causing financial strain for pensioners. There is a provision for periodic increases, but these have not been implemented. Recent government announcements suggest a minimum pension increase to Rs. 1000, but this does not address those receiving slightly more. Respondents suggest forming an association to advocate for pension revisions, emphasizing the disparity between past and present currency value and the inadequate interest on withheld funds. The scheme's lack of transparency and compulsory nature are also criticized.