The Employees’ Provident Fund Organisation (EPFO) is considering a significant increase in the minimum pension under the epfo minimum pension increase 2025. Here’s an overview of the current situation and the proposed changes.
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Current Minimum Pension
As of 2025, the minimum monthly pension under EPS-95 is ₹1,000. This amount has been in place since 2014, despite inflation and rising living costs. Many pensioners have expressed that this amount is insufficient to meet basic expenses.
Proposed Increase to ₹7,500
In January 2025, a delegation of EPS-95 pensioners met with Finance Minister Nirmala Sitharaman during pre-budget consultations. They requested an increase in the minimum monthly pension to ₹7,500, along with dearness allowance (DA) and free medical treatment for both pensioners and their spouses .
Government’s Response
The Finance Minister assured the delegation that their demands would be considered sympathetically. However, as of now, there has been no official announcement regarding the pension increase.
Trade Unions’ Proposal
Trade unions have also advocated for a pension increase, proposing a raise to ₹5,000 per month. While this is higher than the current pension, some pensioners feel it is still inadequate to cover their expenses.
Impact on Pensioners
The proposed increase in the EPFO minimum pension would have a significant impact on millions of pensioners who rely on this monthly amount for their living expenses. With inflation continuously rising, an increase in the minimum pension could provide greater financial stability and a better quality of life for retirees.
The change is expected to help elderly citizens who have dedicated their working lives and are now struggling with limited financial resources. If implemented, this increase would not only address immediate financial needs but also reduce the financial strain on pensioners, especially in their old age.
Conclusion
The proposed increase in the minimum epfo minimum pension increase 2025 is a significant development for retirees. While the government’s response is awaited, the discussions indicate a potential shift towards better financial support for pensioners. Pensioners and stakeholders will be closely monitoring any announcements in the upcoming budget.