Currently, the minimum pension remains at Rs 1,000 per month, a rate that hasn’t been revised since 2014. Given rising living costs and inflationary pressures, employee unions have long demanded a higher amount—some even calling for a hike to as high as Rs 7,500. However, initial reports suggest the board might consider a more modest increment to around Rs 2,500, subject to final government approval.
The proposed hike is contingent on board consensus. Alongside that, the EPFO plans to push forward with its “EPFO 3.0” initiative to make the organisation fully digital and paperless. Key features under discussion include enabling direct PF withdrawals via ATMs, instant withdrawals through UPI, faster claim settlements, online death claims processing, and integrated data management. The upcoming meeting will also address investment policy, fund structure, and administrative reforms.
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If the pension hike is approved, it could benefit millions of retired employees across India who have long awaited increased financial support.
