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.