UPA II Govt approves Rs. 1,000 minimum monthly pension under EPFO Friday Feb 28,2014

The UPA II Govt on Friday Feb 28,2014approved the proposal to ensure Rs. 1,000 minimum monthly pension under a scheme of retirement fund body EPFO that would immediately benefit 28 lakh pensioners

The move will immediately benefit about 28 lakh pensioners including five lakh widows. There are 44 lakh pensioners.

The Govt would have to provide an additional amount of around Rs. 1,217 crore to ensure the minimum pension of Rs. 1,000 starting 2014-15

Pensioners will get the benefit with effect from April01,2014