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EPFO Pension: Employees Provident Fund Organization has crores of account holders across the country. EPFO gives a pension of Rs 1,000 to its employees under the pension scheme. Recently, the Labor Ministry had sent a proposal in which it was asked to increase the pension of the pensioners of EPFO. Now information has come on this matter.
In a setback to 6 crore subscribers of the Employees’ Provident Fund Organization, the Finance Ministry has rejected the proposal of increasing the pension. After this decision, now a parliamentary committee has decided to seek clarification from the Finance Ministry on this matter. It is worth noting that recently the Labor Ministry had sent a proposal to increase the pension of EPFO, but this time it could not be known that how much increase in the pension was proposed by the Ministry.
Parliamentary committee sought clarification
Let us tell you that on Thursday, the Labor Ministry and EPFO officials had proposed to increase the pension of EPFO before the Finance Ministry in a committee headed by BJD MP, but later this proposal was rejected. No official information has been given about the increase in pension, but according to media reports, it was proposed to increase from 1,000 to 2,000, which has been rejected by the Finance Ministry.
This increase is proposed for member, widow and widower pensioner. The Ministry of Finance has rejected all the proposals of the Ministry of Labor, after which the Parliamentary Committee has decided to call all the officers of the Ministry of Finance on this matter.
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Changes made in the rules
Significantly, EPFO has recently decided to make changes in its pension rules. After the change in the rules, now before retirement in less than 6 months, the entire amount deposited under the Employees’ Pension Scheme 1995 (EPS-95) can be withdrawn. Earlier this facility was available only at the time of retirement, but now it has been reduced to 6 months ago. Now you can withdraw the entire PF amount from your account even 6 months before retirement. This decision was taken after EPFO’s meeting with the Central Board of Trustees (CBT).
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