At present, the majority of the workers under the Employees Pension Scheme (EPS) are getting pension of less than Rs. 500. Some are even getting only a pittance of Rs. 10 to Rs. 50. The Central Trade Unions have been long demanding that at least Rs.1,000 should be given as minimum pension.
As per Employees Provident Fund authorities, there are 35 lakh pensioners who have subscribed under EPS Scheme out of whom about 14 lakh pensioners are getting pension less than Rs. 500/. Only about one lakh pensioners are getting more than Rs.1,000 as pension. It is to be noted here that Kerala government pays pension of Rs. 500 to all persons above 60 ie. those who are not having any other income or job.
The government and employers are trying to increase the contribution of the employee to the Provident Fund in an effort create bottlenecks in the demand for the minimum pension. The workers demand is that without increasing the PF contribution, the minimum pension of Rs. 1,000 should be given.