Time to rethink retirement and financial security
You might have seen news about the Unified Pension Scheme (UPS), maybe even skimmed a few articles, and then moved on, thinking this is just another policy tweak that doesn’t concern you.
RSS-affiliate Bharatiya Mazdoor Sangh (BMS) today said EPF subscribers’ minimum pension under the Employees Pension Scheme, ‘95 was just Rs 1000 per month, less than destitutes’ pension.
In a statement, BMS said the EPF subscribers were members of the organized workforce of the country and worked whole life to get a paltry amount of pension.
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BMS General Secretary Binoy Kumar Sinha has urged the Finance Ministry to increase the minimum EPF pension to Rs 5000.
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He said the recent minimum pension revision to Rs 1000 had benefited only 14 lakh of the total 44 lakh pensioners eligible for the revision. There are a total of 65 lakh EPF pensioners in the country, he said.
Sinha said the EPF pensioners should be covered by Ayushman Bharat Medical Scheme as they were unable to afford super-speciality treatment. The Government should expedite a universal pension scheme, he said.
The BMS will soon present a memorandum on its suggestions to the Finance Ministry, he said.
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