The Government today said that increase in EPFO pension is not feasible in view of its huge financial implications, fiscal constraints aggravated by COVID-19 and the burden on the Central exchequer.
This was stated by Minister of State for Finance Pankaj Chaudhary in a written reply in Rajya Sabha. He said, the Government for the first time in 2014, provided a minimum pension of 1000 rupees per month to the pensioners under Employees Pension Scheme.
Under the Employees’ Pension Scheme, the corpus of the employees’ pension fund is made up of contributions by the employer as well as the Central Government.
