Revision of Pension under PF Scheme
The pension on fixed rates is provided to the employees retiring under the Provident Fund (PF) scheme.
The Central Government had constituted an Expert Committee for reviewing the Employees Pension Scheme, 1995 entirely including revision of Pension. The Expert Committee submitted its report to the Central Government on 5th August, 2010 and the recommendations of the Committee were placed before the Central Board of Trustees, Employees’ Provident Fund [CBT (EPF)] for consideration on 15th September, 2010. The CBT (EPF) directed that the report be first considered by the Pension Implementation Committee (PIC). The PIC has since finalized its report and sent it to Employees’ Provident Fund Organisation for placing it before the CBT (EPF) for taking a final decision in the matter.
This information was given by the Minister of Labour and Employment Shri Mallikarjun Kharge in reply in reply to a written question in the Lok Sabha today.