Parliamentary panel has recommended increasing the minimum monthly pension under the Employees' Pension Scheme (EPS-95), stating the current ₹1,000 is inadequate for basic needs. The panel termed the current amount "grossly inadequate" for daily living amidst rising inflation and recommended an upward revision to ensure better social security for pensioners.

Parliamentary panel has recommended increasing the minimum monthly pension under the Employees' Pension Scheme (EPS-95), stating the current ₹1,000 is inadequate for basic needs. The panel termed the current amount "grossly inadequate" for daily living amidst rising inflation and recommended an upward revision to ensure better social security for pensioners. 
Key Details of the Recommendation:
The Issue: 
The current minimum pension of ₹1,000 is deemed too low to meet basic sustenance needs, say reports from the Labor Standing Parliamentary Standing Committee.
Suggested Action:-
 The panel has urged the Ministry of Labour and Employment to urgently reconsider and raise this minimum amount, often discussed in the context of increasing it to at least ₹2,000–₹3,000 or higher.
Context: -
While pensioner associations have long demanded a higher minimum pension (e.g., ₹7,500), the government has previously cited financial sustainability and an actuarial deficit in the fund as reasons for not immediately raising it. 
Other Recommendations: -
The committee also suggested improving the efficiency of the online claim systems (OTCP) and e-nomination processes, particularly to help older beneficiaries. 
The government is facing pressure to enhance the pension payout to match the increased cost of living, while also managing the financial viability of the pension fund. 
Would you like more details on the proposed amounts or the specific challenges faced by pensioners regarding the EPS?

MJF Lion ER YK Sharma 

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