Revision of Pension under PF Scheme

• Monday, November 28, 2011, 10:13
• Corporate Law
• News

The pension on fixed rates is provided to the employees retiring under the Provident Fund (PF) scheme.

The Central Government had constituted an Expert Committee for reviewing the Employees Pension Scheme, 1995 entirely including revision of Pension. The Expert Committee submitted its report to the Central Government on 5th August, 2010 and the recommendations of the Committee were placed before the Central Board of Trustees, Employees’ Provident Fund [CBT (EPF)] for consideration on 15th September, 2010. The CBT (EPF) directed that the report be first considered by the Pension Implementation Committee (PIC). The PIC has since finalized its report and sent it to Employees’ Provident Fund Organisation for placing it before the CBT (EPF) for taking a final decision in the matter.

This information was given by the Minister of Labour and Employment Shri Mallikarjun Kharge in reply in reply to a written question in the Lok Sabha today.

Related posts:

1. Revision of Contribution Rate Under Employees Pension Scheme (EPS), 1995
2. Interest Rate on EPF and Increase in Pension to Industrial Workers under EPS-1995
3. Pension regulator sought tax relief on investments in New Pension Scheme (NPS)
4. Panel report on restructuring pension scheme likely by Mar-end
5. Faq on Employees’ Family Pension Scheme, 1971 and Employees Pension Scheme,1995

3 Comments on “Revision of Pension under PF Scheme”

• BADARINATH wrote on 7 December, 2011, 20:36

  IT IS A GOOD STEP THAT GOVT HAS TAKEN TOWARDS THE EPF PENSION BUT PIC SHOULD NOT SLEEP ON THE MATTER AS THEY ARE TAKING THEIR SWEET TIME IN RAISING THE ABOVE ISSUE AS THE PRICES OF THE ESSENTIAL COMMODITIES HAVE INCREASED BEYOND CONTROL AND ISSUE IS LONG PENDING IT IS REQUESTED TO IMMEDIATELY RAISE PENSION WITH OUT FURTHER DELAY
• BADARINATH wrote on 4 May, 2012, 17:28

  IT IS REGRETTED THAT gOVT IS ONLY SHOWING CARROT AND NOT DOING ANY THING REGARDING THE PENSION AS HELL LOT OF TIME IS TAKEN TO RAISE EPF PENSION ALL THE RETIREES OF PSUS SHOULD STAGE A DHARNA AND FAST  UNTO DEATH TILL IT IS RAISED
• prakash chandra sharma wrote on 18 May, 2012, 16:36

  It is about to end 3/4 years since I have been waiting for a sigh of relief towards increased pension but it appears that it will remain a dream being published/posted over Website. The Hon’ble Labour Minister declared in parliament very very long ago for minimum increase in pension but far from its implementation. I am also a member of this scheme getting only Rs. 832 pm . Can I survive with family . For want of financial assistance I am unable educate my children as a result they are abusing to parents. As far as purchasing of essential commodities is concerned, it is duty of Hon’ble Labour Minister.

  Hope Govt. will think sympathetically called AAM Admi.

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