BackEPFO suspends Rs1,000 minimum monthly pension scheme
EPFO said it has decided to suspend the scheme in the absence of any direction from the govt to continue this benefit beyond 31 March
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New Delhi: Retirement fund body EPFO has suspended the Rs1,000 minimum monthly pension scheme from this month, a decision which will hit about 32 lakh pensioners.
The scheme was launched with effect from September 2014, hiking the pension amount to a flat Rs1,000 per month for those who were getting lower amount earlier.
With the suspension of the scheme, the beneficiaries will get pension at earlier rates.
In a circular to its field offices, the Employees Provident Fund Organisation (EPFO) said it has decided to suspend the scheme in the absence of any direction from the government to continue this benefit beyond 31 March.
According to the government notification issued on 19 August last year, the benefit of minimum pension was made effective from 1 September to March 2015.
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