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The meeting of the Cabinet held today, 28 February, has approved the proposal of the EPFO to fix the Minimum Pension as Rs. 1,000. This will benefit 28 lakh pensioners, who are at present getting less than Rs. 1,000 as pension. In certain cases, the pension is as low as Rs.10.These pensioners are part of the Employees Pension Scheme whose total number will be about 44 lakhs.
It is reported that the government will have to provide an additional grant of Rs. 1,217 crores to EPFO for implementation of the new decision.