Can EPFO increase minimum EPS pension to Rs 3K?

Synopsis The Employees' Provident Fund Organisation is gearing up for its 240th Central Board of Trustees assembly, scheduled for November 19, 2026, in New Delhi. However, official confirmation from the government about these proposed changes is still pending, even as calls for enhanced pension benefits persist. Listen to this article in summarized format Listen ET Online As the Employees' Provident Fund Organisation (EPFO) changed the venue of its 240th Central Board of Trustees (CBT) meeting to be held on November 19, 2026, from Gir, Gujarat, to New Delhi, there are reports that the government can increase the minimum Employees’ Pension Scheme (EPS) amount from Rs 1,000 to Rs 3,000. In a letter dated November 4, 2026, addressed to CBT members, regional PF commissioner Subrata Bhaumik, says that the meeting will be held at 10:15 am, November 19, 2026, at the EPFO Head Office, EKN, New Delhi. Even as the venue of the CBT changed, there are reports that the increase of the minimum EPS pension is likely to be discussed in the November 19 meeting. A media report says that the EPFO is considering increasing the minimum EPS pension from Rs 1,000 to Rs 3,000. The report claims that the Labour Ministry is understood to have reached a decision on the proposal after consultations with the Finance Ministry. The report also claims that the issue of the minimum EPS pension is likely to be discussed in a separate agenda item in the November 19 meeting. Even though the report claims the EPFO is considering increasing the minimum EPS pension, the Ministry of Labour of Employment or the Finance Ministry hasn’t made any such statement. Minimum EPS pension remains Rs 1,000 since February 2014 It was in February 2014 when the CBT approved the proposal of increasing the minimum EPS pension to Rs 1,000. The Finance Minister announced it in the Union Budget 2014-15 and the government notified the Rs 1,000 EPS pension amount in August 2014. How many employee and pensioner bodies for a long time have been demanding to increase the minimum EPS pension to Rs 7,500. They argue that a Rs 1,000 minimum pension is too less to meet and it should be increased to at least Rs 7,500. The EPFO provides a fixed pension under the EPS scheme. While the minimum pension amount is Rs 1,000, there is no upper limit. The pension amount depends on the pensionable service and salary. The salary capping for the EPS pension calculation is Rs 25,000, which was increased from Rs 15,000 in September this year. Ever since the government increased the wage ceiling, employee and pensioner bodies’ demand for a higher minimum pension amount has gathered pace. The current EPS scheme is governed under the 2026 EPS Scheme What is the EPS 2026 Pension Scheme? The Employees’ Pension Scheme, 2026, is a social security initiative under the EPFO designed to provide lifelong pension support to employees in the organised sector after retirement. In the EPS fund, the employer contributes 8.33% of the employees’ basic pay or Rs 2,083, whichever is lower, every month. What is the maximum EPS pension? There is no maximum pension limit under the EPS. It depends on the pensionable salary (with the current wage ceiling of Rs 25,000) and pensionable service. Key changes introduced under EPS-2026 The EPS 2026 scheme superseded the EPS 1995 scheme from July, 2026. The government notified the Employees' Pension Scheme (EPS), 2026, under the Code on Social Security, 2020, replacing the EPS, 1995, and Employees' Family Pension Scheme, 1971. While many provisions remain unchanged, the new EPS scheme introduces several changes, including: Pension claims to be settled within 20 days -12% interest on delayed pension claims -Higher pension provisions incorporated into the scheme -Digital compliance requirements for employers (Join our ETWealth WhatsApp channel for all the latest updates) Add as a Reliable and Trusted News Source Add Now! Read more news on minimum EPS pension increase EPFO CBT meeting Employees' Pension Scheme 2026 pension amount Rs 3,000 Labour Ministry EPS proposal social security initiative EPS (Catch all the Personal Finance News , Breaking News , Budget 2025 Events and Latest News Updates on The Economic Times .) Subscribe to ET Prime and read the ET ePaper online. ...more Add Comment