New Delhi: The Central Board of Trustees (CBT), the top decision-making body of the Employees’ Provident Fund Organisation (EPFO), began meeting on October 10 to consider several major policy decisions, including a possible increase in the minimum monthly pension under the Employees’ Pension Scheme (EPS-95).
Key Topics on the Table
One of the most anticipated proposals is the plan to raise the minimum EPS-95 pension from the current Rs 1,000 per month to Rs 2,500. If approved, this would mark the first revision in over a decade — the last increase was implemented in 2014.
Another major focus of the meeting will be EPFO 3.0, a digital transformation initiative designed to improve transparency, efficiency, and member convenience. Proposed reforms include real-time claim settlement, UPI or ATM-based withdrawals, online correction of member details, faster death-claim processing, and automated employer data integration.
Additionally, the board will discuss potential changes to investment policies, pension fund management, and grievance redressal mechanisms. These discussions aim to enhance service delivery for over seven crore active members and around 75 lakh pensioners.
EPS-95: Who Qualifies and What’s at Stake
Under EPS-95, employees with at least 10 years of continuous service are eligible for pension benefits, typically starting at age 58. Those who exit earlier may receive a reduced pension or a withdrawal benefit.
While the final implementation will require central government approval, the outcomes of this meeting could significantly impact India’s social security landscape — especially for lower-income pensioners awaiting relief and beneficiaries hoping for smoother, tech-enabled EPFO services.
