Implementation of minimum pension Rajya Sabha Q&A
GOVERNMENT OF INDIA
MINISTRY OF LABOUR AND EMPLOYMENT
QUESTION NO 1961
ANSWERED ON 10.12.2014
Implementation of minimum pension
1961 Dr. T. Subbarami Reddy
Will the Minister of LABOUR AND EMPLOYMENT be pleased to satate :-
1961. DR. T. SUBBARAMI REDDY:
SHRI A. K. SELVARAJ:
Will the Minister of LABOUR AND EMPLOYMENT be pleased to state:
(a)whether it is a fact that the much awaited minimum monthly pension of Rs.1,000 under EPS-95 scheme and a higher wage ceiling of Rs.15,000 for social security schemes will be implemented soon;
(b)if so, the details thereof;
(c)whether it is also a fact that this move will help about 28 lakh pensioners;
(d)whether it is also a fact that the move to enhance the ceiling for becoming a subscriber of the Employees’ Provident Fund Organisation (EPFO) is expected to bring 50 lakh additional formal sector workers under the ambit of the body; and
(e)by when the increased amount would be paid to the workers?
MINISTER OF STATE(IC) FOR LABOUR AND EMPLOYMENT
(SHRI BANDARU DATTATREYA)
(a) & (b): The Government has notified a minimum pension of Rs. 1,000/- per month to the pensioners under Employees’ Pension Scheme, 1995 vide Notification G.S.R. 593 (E), dated 19th August, 2014 effective from 01.09.2014 for the year 2014-15.
Government has also notified increase of wage ceiling from Rs. 6,500/- to Rs. 15,000/- for coverage under Employees Provident Funds and Miscellaneous Provisions Act, 1952 vide Notification (s) G.S.R.608 (E), G.S.R.609 (E) and G.S.R.610 (E), dated 22nd August, 2014 effective from 01.09.2014.
(c): 32 lakhs pensioners (Approximately) under Employees’ Pension Scheme, 1995 would be benefited from the notification of a minimum pension of Rs. 1000/- per month to the pensioners under EPS, 1995.
(d): The enhancement in the ceiling is expected to bring more workers within the ambit of EPFO.
(e): The minimum pension of Rs.1,000/- per month under the Employees’ Pension Scheme, 1995 has been implemented with effect from 01.09.2014.