Parliamentary panel suggests a raise to EPF pension, says ₹1,000 inadequate to meet basic needs

Parliamentary panel urges a review of EPF pensions, highlighting ₹1,000 is insufficient amid rising living costs.

A Parliamentary panel on Tuesday (March 17, 2026) recommended an urgent, comprehensive review of the ₹1,000 minimum monthly pension under the Employees’ Pension Scheme, 1995, to raise it to a more realistic and dignified level.

This assumes significance in view of pensioners' demand to raise the pension to ₹7,500 per month, as ₹1,000 is not sufficient to make both ends meet.

Pensioners under the Employees' Pension Scheme 1995 (EPS-95) run by the retirement fund body EPFO had also staged a three-day protest at Jantar Mantar from March 9, for increasing the minimum monthly pension to ₹7,500.

The Parliamentary Standing Committee on Labour, Textiles and Skill Development, in its 15th Report on 'Demands for Grants (2026-27)' of the Ministry of Labour and Employment, noted that the minimum pension of ₹1,000 per month under the Employees' Pension Scheme, 1995, has remained unchanged for a considerable period of time despite the rising cost of living.

During the course of evidence, the committee observed that numerous representations have been received from pensioners seeking an upward revision of the minimum pension, particularly considering the financial hardships faced by elderly and economically vulnerable beneficiaries.

The Committee further take note of the submission of the Ministry of Labour and Employment that the Government of India is already extending financial support towards the Scheme, including the contribution of 1.16 per cent for currently serving members of the Employees' Provident Fund Organisation and the budgetary support provided for ensuring the minimum pension of Rs. 1,000 per month.