Question : EPS-95 Scheme

(a)whether it is a fact that the pensioners of EPFO are getting pension at the rate of EPS-95 scheme which is less than Rs. 2500 per month;
(b)if so, the total number of EPFO pensioners in the country as on 31.12.17, State/UT-wise;
(c)the total accumulated fund in the EPFO account towards Employees Provident Fund Contribution as on 31.12.17;
(d)whether the Government has accepted and implemented the Bhagat Singh Koshiyari recommendations for the betterment of EPS holders thereof; and
(e)if so, the details thereof and if not, the reasons therefor along with the time by which it is likely to be implemented?

MINISTER OF STATE (IC) FOR LABOUR AND EMPLOYMENT
(SHRI SANTOSH KUMAR GANGWAR)

(a): The pension under Employees’ Pension Scheme (EPS), 1995 is calculated as per the provisions of EPS, 1995 which may be more or less than Rs. 2500/- per month depending upon the pensionable salary and pensionable service.
Further, vide notification No. G.S.R. 593 (E) dated 19.08.2014 minimum pension of Rs. 1000/- under EPS, 1995 has been prescribed with effect from 01.09.2014.
Contd..2/-
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(b): The State/UT-wise details of total number of Employees’ Provident Fund Organisation (EPFO) pensioners under EPS, 1995 as on 31.12.2017 are at Annex.

(c): The accumulated fund in EPFO towards Employees’ Provident Fund (EPF) [Un-exempted sector] as on 31.12.2017 is Rs.5,66,031.95 crore (provisional un-audited) in debt investments at face value.
The accumulated fund in EPF [Un-exempted sector] as on 31.12.2017 is Rs.25,034.85 crore [provisional Un-audited] in Equity and related investments at cost value.
(d) & (e): No, Madam. Due to financial constraints in increase in Government share under Employees’ Pension Scheme (EPS), 1995 and to maintain sustainability of the Employees’ Pension Fund, the recommendations of the Koshiyari Committee have not been accepted.
However, the Government has started providing a minimum pension of Rs. 1000/- per month to the pensioners under EPS, 1995 from 01.09.2014.

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