Parliamentary panel demands urgent reassessment of ₹1,000 monthly pension under Employees’ Pension Scheme (EPS), 1995. Calls for big increase to meet basic needs. Pensioners want ₹7,500 per month, current amount not enough with rising costs.
Standing Committee on Labour, Textiles and Skill Development reported findings March 17,2026. Minimum pension hasn't changed in long time,despite inflation,healthcare costs. Many pensioners appealed, citing financial struggles due to stagnant pensions.
In talks, committee noted Government of India's financial support to EPS,including 1.16% contribution from Employees' Provident Fund Organisation members. But current pension can't cover basic needs,especially in today's economy.
“The existing minimum pension amount is inadequate to meet even the basic needs of pensioners,” the committee stated.
Committee urged Ministry of Labour and Employment to review pension scheme. Explore options to boost budgetary support, ensuring pensions match living costs. Enhance social security for millions of retired workers .
Panel praised Labour Codes but pushed for Permanent Co-ordination and Interaction Board. This board would help central, state governments coordinate labour schemes. And it highlighted issues facing contractual workers,often waiting for compensation after accidents. Urged timely social security coverage for them under schemes like Employees’ State Insurance.
On gig economy, committee noted gig workers' key role in urban supply chains. Many still lack formal registration,social security. Recommended mandatory registration on e-Shram Portal, ensuring benefits like insurance,accident coverage for a year.
Committee pressed government to include gig, platform workers in labour codes. Clarify aggregator responsibilities for worker welfare. Also called for realistic budgeting within Labour Ministry, advocating for systematic Budget Estimates for awareness, capacity-building initiatives on Labour Codes.
On broader scale,committee urged Ministry to quickly revise wage ceiling under Employees’ State Insurance Corporation. Aim to extend social security to more workers . But balance financial sustainability of ESI Fund with worker needs.
As committee's recommendations unfold,future of pensioners under EPS remains uncertain. Many push for a pension system that reflects modern living expenses…
