Pension Hike: Parliamentary Panel Recommends Major Increase For EPS 95 Pensioners
EPS Pension Hike: A Parliamentary panel has strongly recommended an urgent upward revision of the minimum monthly pension provided under the Employees’ Pension Scheme, 1995 (EPS-95), keeping in mind the escalating cost of living and rising healthcare expenses. At present, beneficiaries under this scheme receive a meagre ₹1,000 per month, which has become practically insufficient for the elderly to meet their daily necessities.
Strong Demand for EPS-95 Pension Hike
For a considerable period, EPS-95 pensioners have been vocal about their demand to increase the minimum monthly payout to ₹7,500. They recently staged a three-day continuous protest at Jantar Mantar to press for their demands. The Parliamentary Standing Committee on Labour, Textiles, and Skill Development, in its latest report, explicitly noted that the current ₹1,000 threshold has remained stagnant for years. Although the Government of India provides a 1.16% contribution and budgetary support to sustain this minimum amount, the Committee firmly believes that the sum is radically inadequate. They urged the Labour Ministry to explore options to increase the budgetary support to guarantee a dignified and realistic pension that aligns with today’s economic reality.
Social Security Expansion for Gig and Contractual Workers
Beyond pensioners, the parliamentary committee proposed vital welfare measures for unorganised sector workers. The panel stressed making the registration of urban gig workers on the e-Shram portal mandatory for aggregators. This registration should remain valid for at least one year and guarantee seamless access to life insurance and accident coverage. Furthermore, to protect contractual workers, the Committee advised both the Union and State Governments to formulate a strict monitoring mechanism. This will ensure that contract labourers facing workplace accidents receive timely compensation and social security coverage under the Employees’ State Insurance (ESI) and Provident Fund (PF) frameworks.
Safety of Mine Workers and ESIC Wage Ceiling Revision
To ensure holistic development of the workforce, the panel has advised the Ministry to promptly revise the wage ceiling under the ESIC, which would bring a significantly larger segment of workers under the social security umbrella. Additionally, they highlighted the critical need for mine workers’ safety by recommending the creation of a comprehensive database to curb illegal mining operations and urged the swift filling of vacancies in the Directorate General of Mines Safety (DGMS). To successfully implement the new Labour Codes, the formation of a Permanent Co-ordination and Interaction Board comprising both Central and State representatives was also proposed.
