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.
Sankar Kumar Das. said:
Demanding Rs 1000/- as minimum pension by Central Trade Unions appears to be to meagre, which may indulge the Government to further lowering down the same after negotiation.
While I understand that to demand more higher than Rs 1000/- may appear to be unachievable, since the Government is not paying even Rs 500/- to many peoples or the employees as pension.
Still then when EPF Organisation is paying pension and the same organisation is investing pension contributions in some profitable sectors or for creating permenent wealths for the country/society ( say consutructions of buildings/home loans, etc), demanding a reasonable amount, say Rs 1500/ per month with Dearness allowance along with price rice, appears to be not unreasonable. and the same appears to be achievable too.