The Government today said that increase in EPFO pension is not feasible in view of its huge financial implications, fiscal constraints aggravated by COVID-19 and the burden on the Central exchequer.
This was stated by Minister of State for Finance Pankaj Chaudhary in a written reply in Rajya Sabha. He said, the Government for the first time in 2014, provided a minimum pension of 1000 rupees per month to the pensioners under Employees Pension Scheme.
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Under the Employees’ Pension Scheme, the corpus of the employees’ pension fund is made up of contributions by the employer as well as the Central Government.
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