Connect with Us
Moneylife - Facebook Moneylife - Twitter Moneylife - Linkedin Moneylife - Youtube Moneylife Rss feed
close

Moneylife » Personal Finance » Retirement » Raise minimum EPF pension to Rs5,000: Tharoor

Raise minimum EPF pension to Rs5,000: Tharoor

MDT/PTI | 01/08/2012 03:35 PM | 

According to the former Union minister, existing minimum pension of the EPF scheme is 'totally inadequate' for over 3.5 million who had spent their entire working life

 
Thiruvananthapuram: Congress MP Shashi Tharoor has urged the Indian government to enhance the pension under the Employees Provident Fund (EPF) scheme to at least Rs5,000, reports PTI.
 
The existing minimum pension of the scheme was 'totally inadequate' for over 3.5 million under the scheme who had spent their working life in the most productive sectors of the national economy, he said in a statement.
 
"There are cases of pensioners with 40 years' service receiving Rs550 a month. The basic pension should be raised to at least Rs5,000 a month," the former Union minister said.
 
He also wanted the Dearness Relief linkage to be provided on the pension as granted to all other pensioners. Otherwise, the scheme would not serve any purpose since the increase in cost of living would not be accounted for, he said.
 
 

Post Comment

More in Moneylife

Chikki scam, biscuit scam, Pankaja Munde, Devendra Fadnavis, RTI activists,

After Chikki, now a biscuit scam! +8814 views

TODAY'S TOP STORIES

Post your Comment


Alert me when new comment is posted on this article
 Please read our Moderation Policy and Terms of Use before posting


VIDEOS

Moneylife Foundation: Maharashtra CM Fadnavis says financial literacy empowers citizens

LATEST COMMENT

Ralph, VPNs are usually provided by employers and it is a violation of terms of employment to watch porn on that .. Anand Vaidya

MORE

Is thoughtless introduction making pension system lose its credibility? MG Warrier

Biggest Risk in Retirement? Moneylife Digital Team

Comment

4 Comments
CA PRADEEP AGARWAL

CA PRADEEP AGARWAL 2 years ago

They will do anything for vote bank politics, if members unite and become vote bank then everybody will be vying to appease.

Reply »Link » Report abuse
X
ghatty sai

ghatty sai 2 years ago

all state govt and central govt employees are drawing their pensions based on increase in Da.Only we the pensioners under EPF have not been getting these benefits.we do not have any medical benefits etc as state and central govt employees have. will Mr Chidambaram do some thing for us in this budget as getting more pension.Request all political parties to do something for all of us.Was there any change in reviewing this after this was introduced in 1970?

Reply »Link » Report abuse
X
ghatty sai

ghatty sai 2 years ago

will the congress and other parties please listen to him and do something to us.

Reply »Link » Report abuse
X
M G WARRIER

M G WARRIER 3 years ago

It is soothing to find that people who can influence opinion in Delhi come out in support of a cause for which there are few takers in the political leadership. EPFO pension goes to beneficiaries who have spent their better part of lives working in factories and companies which sustained economic development. Their social security is nation's responsibility.In this context GOI should review all social security schemes for the elderly to make them serve the purpose for which they were designed.

Reply »Link » Report abuse
X
Daily Newsletter

1,00,000 Readers

Follow Moneylife
DNL facebook icon DNL linked in icon DNL twitter icon DNL youtube icon DNL rss icon
Moneylife Magazine

Grab a Discount Coupon here



What's your say?

Is India ready to grab the opportunity provided by the Eurozone crisis?
Yes
No
Can't Say
 
Enter Code : secure code
    change code
VOTE

What you said

After the suspension of CSK and RR for two years, should BCCI stop the IPL?

Thanks for casting your votes! View Previous Polls

Join Over 100,000 Awesome Readers

  1. News that Mainstream media does not always cover
  2. Views that are bold and unbiased
  3. Reports that focus on your interests as consumer, investor & citizen