News Desk
19 September 2025, 06:37 PM IST
EPFO may hike EPS-95 minimum pension to ₹2,500 from ₹1,500 at October board meeting ahead of Diwali.
Representational image
The Employees’ Provident Fund Organisation (EPFO) is expected to consider a long-awaited hike in the minimum pension under the EPS-1995 scheme during its Central Board of Trustees (CBT) meeting in Bengaluru on October 10–11. Chaired by Union Labour and Employment Minister Mansukh Mandaviya, the meeting may bring festive relief to pensioners, with a proposed increase from ₹1,500 to ₹2,500 per month.
This potential ‘Diwali gift’ follows years of demands from trade unions, who have cited rising living costs and stagnant pension rates. A previous recommendation by a High-Level Monitoring Committee to raise the pension to ₹2,000 was not approved by the Finance Ministry.
What’s EPS-1995 scheme?
The EPS-1995 scheme, a Contribution-Defined Benefit Social Security programme, currently draws 8.33% of wages from employers and 1.16% from the Central Government, capped at a wage ceiling of ₹15,000 per month. The first minimum pension of ₹1,000 was introduced in 2014 under the Modi government.
The October meeting—EPFO’s first in seven months—will also discuss a major digital overhaul under EPFO 3.0. Tech giants Infosys, TCS and Wipro have been shortlisted to revamp the portal, enabling seamless EPF and EPS transactions. Proposed upgrades include partial withdrawals via ATMs or UPI, aimed at boosting household liquidity and festive consumption.
Subscribe to our NewsletterGet Latest Mathrubhumi Updates in EnglishFollow
Disclaimer: Kindly avoid objectionable, derogatory, unlawful and lewd comments, while responding to reports. Such comments are punishable under cyber laws. Please keep away from personal attacks. The opinions expressed here are the personal opinions of readers and not that of Mathrubhumi.