A Parliamentary panel has recommended an urgent and comprehensive review of the Rs 1,000 minimum monthly pension under the Employees’ Pension Scheme, 1995, saying the amount is no longer sufficient to meet the basic needs of beneficiaries amid rising living costs, reported PTI.The recommendation assumes significance as pensioners have been demanding that the minimum pension be raised to Rs 7,500 per month. Beneficiaries under the Employees’ Pension Scheme (EPS-95), administered by retirement fund body EPFO, had staged a three-day protest at Jantar Mantar from March 9 pressing for the hike.In its 15th report on ‘Demands for Grants (2026-27)’ of the Ministry of Labour and Employment, the Parliamentary Standing Committee on Labour, Textiles and Skill Development observed that the minimum pension has remained unchanged for a considerable period despite increasing inflation and healthcare expenses.The panel noted that it had received numerous representations from pensioners seeking an upward revision, particularly in view of the financial hardships faced by elderly and economically vulnerable beneficiaries.
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The Committee also took note of the Ministry’s submission that the government is extending financial support to the scheme, including a contribution of 1.16 per cent for currently serving EPFO members and budgetary support to ensure the Rs 1,000 minimum pension.However, it said the existing pension amount is inadequate even to meet basic needs in the current economic environment and recommended that the Ministry undertake an urgent review to enhance the payout to a “more realistic and dignified level”.The panel further suggested exploring the possibility of increased budgetary support to ensure a reasonable minimum pension commensurate with present-day living costs, thereby strengthening social security and financial stability for lakhs of retired workers.Besides pension reforms, the Committee welcomed implementation of the Labour Codes and recommended setting up a Permanent Co-ordination and Interaction Board with representatives from the Centre and states to monitor rollout of labour schemes.It also flagged delays in relief and compensation for contractual labourers after workplace accidents and urged timely inclusion of such workers under social security schemes like Employees’ State Insurance and Provident Fund.Highlighting the growing role of gig workers in urban supply chains, the panel recommended mandatory registration of such workers by aggregators on the e-Shram portal, with continued access to benefits such as insurance and accident coverage.The Committee also called for realistic, evidence-based budgeting by the Ministry of Labour and Employment, systematic provisioning for awareness and IT infrastructure under the Labour Codes, faster filling of vacancies in DGMS, and stricter action against illegal mining to safeguard worker safety.It further recommended expediting revision of the wage ceiling under the Employees’ State Insurance Corporation to expand coverage while ensuring the financial sustainability of the ESI fund.