Pension Hike: Pensioners can go on hunger strike from today, demand to increase minimum pension to Rs 7,500 monthly
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pension hike: Pensioners receiving pension under EPS 95 have been demanding increase in minimum pension for a long time. They are protesting at various places. But now, pensioners threatened to go on hunger strike on Tuesday demanding increase in minimum monthly pension to Rs 7,500 under the Employees’ Pension Scheme-1995 of retirement fund manager EPFO. Under the EPS-95 scheme of the Employees’ Provident Fund Organization (EPFO), pensioners currently get a minimum monthly pension of Rs 1,000. This pension is being given as per the rules applicable in September 2014. The pensioners said that if their demands were not met, they would start a hunger strike on January 31. More than 50,000 pensioners from across the country are expected to join this movement. EPFO data shows that there are 78 lakh pensioners across the country.
Pension not received even after assurance
The committee, which is fighting for the demands of the pensioners, said in the statement that under the leadership of the National Movement Committee of EPS-95, the pensioners are protesting at Jantar Mantar in the national capital from January 31 to second to demand increase in the minimum pension to Rs 7,500 per month and other benefits. Will start an indefinite hunger strike. The committee said that despite the assurance of Union Labor Minister Bhupendra Yadav, their demands have not been fulfilled. Committee chairman Ashok Raut said that this is our final warning. Despite repeated assurances, no action has been taken on our demands. If our demands are not met then we will fast unto death. Before this, state-wise hunger strikes and demonstrations will begin from January 31.
1.16 percent goes to pension fund
Ashok Raut Raut said that after working for 30 years and continuously contributing to the EPS-based pension scheme, the employees are getting such a small amount as monthly pension that it is difficult for them and their families to survive. Under the current norms, 12 percent of the basic salary of an employee covered under the EPS-95 scheme goes into the provident fund, while 8.33 percent of the employer’s share goes into the employee pension scheme. Apart from this, the government also contributes 1.16 percent to the employee’s pension fund.
What is EPS-95?
The Employees’ Pension Scheme came into effect on 16 November 1995. The scheme applies to all employees of factories and other establishments to which the Miscellaneous Provisions Act, 1952 and the Employees’ Provident Fund apply. This is a type of social security scheme launched by the Employees Provident Fund Organization (EPFO). The objective of the Employee Pension Scheme (EPS) is to provide benefits to employees after their retirement. EPFO manages the administration and helps the employees who reach the age of 58 years to receive pension. EPS benefits are available to both new and existing EPF members. Here, both the employee and the employer contribute 12% of the employee’s salary including basic pay and DA into the scheme. Every month the entire contribution of the employee is deposited in EPF. After this, 8.33% of the employer’s contribution goes to EPS, and the remaining 3.67% goes to EPF.
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