EPS 95 Minimum Pension Hike News: Minister of LABOUR AND EMPLOYMENT be pleased to state whether the Koshyari Committee has recommended for increase of minimum pension of EPS-95 Pensioners

GOVERNMENT OF INDIA

MINISTRY OF LABOUR AND EMPLOYMENT

LOK SABHA

UNSTARRED    QUESTION NO:    732
ANSWERED ON:     07.02.2022

Recommendation of Koshyari Committee Regarding Pension

Sujay Radhakrishna Vikhepatil
Unmesh Bhaiyyasaheb Patil
Heena Vijaykumar Gavit
Aparupa Poddar
Rajendra Dhedya Gavit
Krishna Pal Singh Yadav
Shrikant Eknath Shinde

Will the Minister of LABOUR AND EMPLOYMENT be pleased to state whether the Koshyari Committee has recommended for increase of minimum pension of EPS-95 Pensioners; if so, the details and the action taken so for by the Government on such recommendations;

(c)whether there is any proposal for giving dearness allowance to EPS-95 pensioners to neutralize the price index as given to Central Government pensioners if so, whether the Government also proposes to extend ‘Ayushman Bharat Yojana’ to economically vulnerable EPS-95 pensioners to extend health care facilities; and if so, the details thereof and the time by which these proposals are likely to be implemented?

ANSWER

MINISTER OF STATE FOR LABOUR AND EMPLOYMENT

(SHRI RAMESWAR TELI)

Koshyari Committee had recommended, in the year 2013, to increase minimum pension to Rs. 3000 per month and also enhance Government’s contribution from 1.16% to at least 8.33% of wages for the members of Employees’ Pension Scheme (EPS), 1995. The Government has, for the first time, in the year 2014, provided a minimum pension of Rs. 1000 per month to the pensioners under EPS, 1995 by providing budgetary support, which was in addition to the budgetary support of 1.16% of wages provided annually towards EPS. For the year 2021-22, an amount of Rs.7364 crore has been provided for minimum pension and towards 1.16% of wages as Government contribution.

The Employees’ Pension Fund for EPS, 1995 is a self-financed fund. A High Empowered Monitoring Committee (HEMC) was constituted for evaluation and review of EPS, 1995 and the Committee did not recommend any linking of monthly pension with cost of living index as this may severely affect the financial health of the Employees’ Pension Fund, as assessed by the Actuary appointed by the Government under paragraph 32 of the EPS, 1995. However, as recommended by the HEMC, the Government has notified its decision vide G.S.R. 132 (E) dated 20.02.2020 for restoration of normal pension after completion of fifteen years from the date of such commutation, in respect of those members who availed the benefit of commutation of pension under the erstwhile paragraph 12A of the EPS, 1995, on or before 25.09.2008.

The Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PMJAY) is an entitlement based scheme and the beneficiary families are drawn from Socio Economic Caste Census database by applying specific deprivation criteria for rural area and occupational criteria for urban area.

However, there is no provision in the EPS, 1995 to provide medical facilities to the EPS pensioners.