Govt should give monthly pension of Rs 5,000 under EPS: Muley

Source: The Hitavada      Date: 08 Oct 2018 09:55:13


Business Bureau,

Employees' Provident Fund Organisation (EPFO) had invested Rs 41,967.51 crore in the fiscal 2016-17 in various funds and has earned a profit of Rs 17.23 crore. Every year, the EPFO distributes only Rs 9,000 crore per annum to EPS 1995 pensioners, said Mukund Muley, President of National Pensioners Welfare Committee while talking to The Hitavada.
He said, “The EPFO has Rs 3 lakh crore fund in its exchequer, but it only gives pension of Rs 9,000 crore every year.” Muley demanded that Union Government should increase the monthly pension to Rs 5,000 to senior citizens before Diwali.
He has also written a letter to the Union Government pertaining to this issue.

He said, the Union Labour Ministry in the year 1995 had launched the pension scheme for the retiree of various sectors. The retirees had contributed 25 to 30 years of their lives in the economic progress of the nation. The nation builders were paid less during their service period and even the EPS pension paid to them is also very less.
“Government should increases the pension of the retiree of all sectors, but is not paying attention to the demand of the pensioners,” Muley pointed out.

He said, Union Labour Ministry in the year 2014 had declared that every retiree under the EPS 95 scheme would get the minimum pension of Rs 1,000, which has also not been implemented properly. “More than 14 lakh pensioners in the country are getting monthly pension below Rs 1,000. In Maharashtra State also 2,23,000 retirees are getting monthly pension below Rs 1,000,” he said.

He said, even to live a very simple life, the pension amount given by the EPFO is very less. Government should increase minimum pension of Rs 5,000 per month before Diwali, he demanded.