Parliamentary Committee Calls for Higher Minimum Pension for Retired Workers
A parliamentary standing committee on labour has strongly recommended that the government increase the minimum monthly pension provided under the Employees’ Pension Scheme (EPS). The panel suggested raising it from the current amount of Rs 1,000 to a more realistic and dignified level that aligns with present-day living costs. This move aims to support lakhs of retired workers across the country.
Inadequate Pension Fails to Meet Basic Needs
The committee expressed its considered view that the existing minimum pension is insufficient to cover even the basic necessities of pensioners. This concern is particularly pressing in the current economic environment, which is characterized by high inflation and escalating healthcare and living expenses. The panel emphasized that the financial strain on retired individuals has become increasingly severe, making it difficult for them to maintain a decent standard of living.
Urgent Review and Action Required
In its recommendations, the committee urged the labour ministry to conduct an urgent and comprehensive review of the minimum pension amount. The goal is to enhance it to a level that is both realistic and dignified, ensuring that pensioners can cope with the rising cost of living. The panel noted that the government has received numerous representations from pensioners themselves, who have been actively seeking an upward revision of their pension benefits.
The parliamentary committee's suggestions highlight a growing recognition of the challenges faced by retired workers in India. With inflation impacting daily expenses, the need for a revised pension scheme has become more critical than ever. The proposed increase is seen as a vital step toward providing financial security and dignity to those who have contributed to the workforce throughout their careers.
