Hike in minimum pension for subscribers will need budgetary support: EPFO

An empowered committee, set up by the labour and employment ministry, in its report submitted to the govt in December had recommended that the minimum monthly member pension may be hiked to Rs 2,000

The Employees’ Provident Fund Organisation (EPFO) has informed the government that the minimum pension for its subscribers may be doubled to Rs 2,000 per month with budgetary support. 

"It will be difficult to hike the minimum pension from the present Rs 1,000 a month without budgetary support," said a senior EPFO official. However, he didn’t specify the budgetary burden should the minimum pension increases. 

An empowered committee, set up by the labour and employment ministry, in its report submitted to the government in December had recommended that the minimum monthly member pension may be hiked to Rs 2,000, provided the