You must Sign In to post a response.
  • Category: Miscellaneous

    Should not the EPF pension be Rs.3000 now ?

    Some years ago, the EPF pension was revised to a minimum of Rs.1000/. Then, there seemed to be a legal dispute where the court had seemingly asked the Central Government to revise the pension. I do not know the exact legal details.

    There is hardly any social security in this country. The inflation rate is so high and it is high time that the EPF pension is also revised upwards. A reasonable figure of Rs.3000 should be given as minimum pension.

    What do members have to say on this?
  • #650105
    There are proposals I heard. The proposal is to increase the minimum limit of EPF to Rs.5000.- per month. But it is waiting for the clearance from the ministry. Just increasing the minimum to Rs.1000/- or Rs.3000/- or Rs.5000/- is not alone sufficient. The maximum level also should be changed accordingly. Then only people who are getting Rs.1200/- or Rs. 1500/- per month will also get benefitted.
    We have to wait for the approval from the central government and I doubt very much that the present government in its tenure may not do it. Alternatively, they may approve and implement just before the announcement of parliament elections.

    drrao
    always confident

  • #650122
    Seeing the inflation today it is required that such pensions should be increased time to time. Unfortunately the Govt is caught in the web of rules, procedures and regulations and can not decide these things so quickly.

    Another aspect is some economists say that there should not be any pension from the Govt to anyone. It should be in the nature of the self contributory form and Govt should only add a small part to it to compensate for inflation.

    If we follow this doctrine then we will have to shell out a good contribution every month to get a good pension later on. Are we contributing it?

    EPF was a scheme in which people contributed very little during their active work life. So Govt has to bear a bigger part now to pay the people if it is increased to Rs 3000.

    These are the considerations that go in the background of such raises. The general public just makes hue and cry thinking that Govt will increase it in that pressure. Things are not so simple and Govt will take time in deciding such positive gestures.

    Knowledge is power.

  • #650129
    A serious consideration from the side of Government is required to revise the pension upward to the tune of Rs 7500 coupled with DA so as to get relief from the inflationary pressure. A minimum pension of Rs 1000 being provided to the Sr. Citizens is nothing but mockery since this meagre amount has failed to provide the basic needs of day- today requirement.
    The prices of Pulse, Oil, Rice and Wheat have surged manifold and so is the case with the prices of Vegetables.
    Any delay in the implementation of the revised pension would worsen their condition and hence an immediate step is required to resolve this issue. Hope a positive result is in the pipe- line.


  • Sign In to post your comments