Pensioners Hopeful: Minimum EPS Pension May Jump to ₹10,000 in Upcoming Budget

• Pensioners are eagerly awaiting the upcoming budget, with high expectations for an increase in the minimum pension under the Employees' Pension Scheme (EPS) 1995.
• The current minimum monthly EPS pension of ₹1,000 has remained unchanged for years, leading to widespread concern among pensioners about its inadequacy for basic needs.
• Employee unions and experts are strongly advocating for a significant hike, with demands ranging from ₹5,000 to ₹10,000 per month, a substantial increase from the current amount.
• Reports from Mathrubhumi and Asianet News suggest that EPFO and the government are seriously considering increasing the pension due to rising inflation and cost of living.
• The EPS 1995 scheme, established under the EPF & MP Act, 1952, provides monthly pension benefits to eligible employees, with contributions from both employers and the central government.

Why It Matters: Pensioners anticipate a significant hike in the minimum EPS pension, possibly up to ₹10,000, in the upcoming budget.