Tuesday, 21 April 2015

EPF-95 beneficiaries' pension faces cut

Pension received by the beneficiaries of the Employees Provident Scheme, 1995, has gone back from Rs 1,000 per month to Rs 50-Rs 800 from the commencement of the new financial year. This is due to the fact that the central government had decided to give the raised amount as pension only for 2014-15. The Centre has, however, directed the provident fund department not to process the pension of the beneficiaries till further orders are released.

"The provident fund office has been asked to withhold the calculation of pension to the beneficiaries till further notice. It is believed that the Government of India will soon revise its order on giving pension of Rs 1,000 per month to the beneficiaries of the scheme for this year as well. The Centre is likely to issue new orders to ensure that the pension remains Rs 1,000 per month," a senior official from the provident fund office said.

"We process the pensions on the 25th of every month. Accordingly, we will wait till the government decides to continue with last year's raise. We hope the orders to reach us latest by the 28th of the month, following which, pension may be made available by the 3rd of the next month," the official said.

The pensioners, however, have been demanding that their pension be revised to Rs 6,000 per month, along with the dearness allowance. "We have decided to agitate for rise in pension. We have urged the government to go by the recommendations of the Koshiari Committee, which had recommended a pension of Rs 3,000 per month along with the dearness allowance," said Prashant Deshmukh, general secretary of the federation of pensioners, district unit.

http://timesofindia.indiatimes.com/india/EPF-95-beneficiaries-pension-faces-cut/articleshow/46953185.cms

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