In a wonderful development that goes into the good books of the private sector employees in India, the EPFO approved a minimum monthly pension of ₹3,000 from the year 2025. It is trying to support lakhs of workers who are covered under the EPF scheme but who receive marginal pension after their retirement.
Who Is Eligible?
These ₹3,000 minimum monthly pension benefits shall be provided under the Pradhan Mantri Shram Yogi Maandhan Yojana and EPS-95 scheme for the eligible employees so that:
- The employee is registered with the Employees’ Pension Scheme (EPS-95).
- The beneficiary has completed at least 10 years of service.
- Upon receiving the pension, the individual should be 60 years or above.
- The lump-sum pensioner should not be enjoying any other pension from the government.
This announcement is one of its kind from the government so that the unorganized and private sector workers could live their post-retirement life with dignity.
When Will Payments Begin?
Payments from the ₹3,000 minimum pension are expected to commence by the month of August 2025, in case the schedule remains unchanged. The amount shall be credited monthly to the bank account of the pensioners. The EPFO is also going a step forward by working out arrangements so that all the eligible retirees are migrated automatically to this higher pension scale.
Why This Matters
At present, it is possible for many EPS-95 pensioners to receive some of the lowest possible pensions, down to as less as ₹1,000 per month. This hike to ₹3,000 will hence triple that specified amount for these persons, providing much-needed relief during the adverse times of rising living costs. The increased pension will benefit more than 50 lakh EPFO pensioners and is intended mostly for low-income pensioners who depend entirely on pension for their livelihood.
How To Apply
Eligible persons need not apply anew. EPFO will automatically wherever applicable increase by ₹2,000 the pension in those cases where pensioners are already drawing pension under EPS. To help avoid any possible delays in their payments, pensioners should ensure to keep their bank account details, Aadhaar, and KYC information updated in the UAN portal.
Conclusion
An additional ₹3,000 worth of EPFO pension constitutes a great milestone toward social security reforms in India. Yet, this pension scheme will come to aid millions of pensioners stripped of much by inflation, thus confirming the goodwill of the government toward a working-class livelihood.
Also Read :Pension Rule Change From June 30: Crucial Update For Elderly, Widows & Disabled