For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

EPFO Shelves Off Plan Of Doubling Minimum Pension

|

As per a leading business daily report which cited officials, the EPFO amid cash crunch has for now shelved off its plan to double pension for its around 4.5 million pensioners.

EPFO Shelves Off Plan Of Doubling Minimum Pension
 

Earlier there was a proposal put forth to increase the pension amount from Rs. 1000 to Rs. 2000 on a monthly basis.

"This is now on hold. We cannot go ahead as it will burden us financially," one of the officials was quoted as saying in the report.

It also cited that doubling of pension amount would increase the expenditure of the government by Rs. 1,500 crore. Also an official from the labour ministry said that this year being the election year, the retirement fund body cannot ask for more of funding.

GoodReturns.in

Read more about: epfo pension
Story first published: Thursday, March 28, 2019, 10:10 [IST]
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more