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Thursday, December 4, 2014

New Policy for Pension Holders

New Policy for Pension Holders

GOVERNMENT OF INDIA
MINISTRY OF LABOUR AND EMPLOYMENT
RAJYA SABHA

UNSTARRED QUESTION NO-1192
ANSWERED ON-03.12.2014

New policy for pension holders

1192 . Shri Basawaraj Patil

1192. SHRI BASAWARAJ PATIL:

Will the Minister of LABOUR AND EMPLOYMENT be pleased to state:
(a)the impact of the new policy of Government on pension holders;
(b)the number of pension holders likely to get benefited; and
(c)the details of total financial benefit to the pension holders?


ANSWER
MINISTER OF STATE (IC) FOR LABOUR AND EMPLOYMENT
(SHRI BANDARU DATTATREYA)

(a) & (b): The Government has notified a minimum pension of Rs.1,000/- per month under Employees’ Pension Scheme, 1995 vide G.S.R. No.593(E) dated 19.08.2014 for the year 2014-15 with effect from 01.09.2014. It has benefited all members, widow/widower, disabled, nominee and parent pensioners drawing pension less than Rs.1000/- under the Scheme. The policy has also benefited children and orphan pensioners whose minimum pension would be Rs. 250/- per month and Rs.750/- per month respectively. 32 lakhs pensioners (Approximately) under Employees’ Pension Scheme, 1995 have been benefited under the policy.

(c): Pensioners under Employees’ Pension Scheme, 1995 getting less than Rs. 1000/- per month are getting top-up amount over and above the pension they are getting to make it to Rs. 1,000/- per month. Besides, children and orphan pensioners are getting a minimum pension of Rs. 250/- and Rs. 750/- per month respectively. The total financial benefit to the pension holders in implementing the minimum pension under Employees’ Pension Scheme, 1995 is estimated to be Rs. 709 crores for the period 01.09.2014 to 31.03.2015.

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