Bank Wage Revision 10th Bipartite : Scales finalized – RBI cleared holiday for 2nd & 4th
Bank Xth Bipartite : Scales finalized. RBI cleared holiday for 2nd & 4th Saturdays
Distribution Chart for 10th Bi-Partite Settlement Finalised:
Scales: Substaff- 9560 to 18545 + 8 Stagnation Increments (each after 2 years)
Clerical: 11765 to 31540 + 8th Stagnation Increments (1st to 5th- each after 3 years, 6th to 8th- each after 2 years)
8th Stagnation Increment w.e.f . 01.05.2015
D.A.: 0.10% Per Slab
HRA: 10%, 9% & 7.5%. Only 3 Areas will remain (Last 2 Areas will be clubbed)
(45 lacs and above: 10 % ; 12-45 lacs & Goa : 9 % ; other centres : 7.5 %)
Special Allowance: 7.75% of Basic Pay with DA
Transport Allowance: Upto 15th Stage of Scale- 425, 16th Stage & above- 470
Medical Aid: 2200
Officers’ scale is going to be finalized shortly today (20/05/15)
RBI has cleared the proposal of IBA to declare 2nd & 4th Saturdays as holidays. The clearance has been sent to the Govternment for approval.
The joint note likely to be signed very soon, Most probably on 25th May 2015. Be with us for more news soon !
Nitish Kumar government announces pre-election bonanza, hikes DA for employees, pensioners.
Patna: The Nitish Kumar government in Bihar today announced a pre-election sop for government employees and pensioners by hiking Dearness Allowance by six to 11 per cent.
A decision to this effect was taken at a meeting of the state Cabinet presided over by Chief Minister Nitish Kumar.
Briefing on the cabinet decisions, Principal Secretary, Cabinet Coordination, Shishir Sinha told reporters the DA has been increased from 107 per cent to 113 per cent for revised salary category for employees.
For those falling under unrevised category (those who could not avail 6th Pay Commission because of some service related dispute) the DA was raised from 212 per cent to 223 per cent, Sinha said.
For both categories, which constitute about four lakh employees, the hiked DA would be applicable with effect from January 1 this year, the principal secretary said.
The government would incur an additional financial burden of Rs 821 crore annually due to hike in the DA, he added.
The Bihar cabinet also approved a total of 24 agendas of different departments today.
Allowance, DA Over 50%, Dearness Allowance, Employees News, Expected DA, General news, Latest News, Pension Tags:
DA, Dearness Allowance, Government Employees, hikes DA for employees, Pensioners, pre-election bonanza, revised salary
Inclusion of Aadhaar (Unique identification) number in Service Book of Government servants: DoPT Order –
Government of India
Ministry of Personnel, Public Grievances & Pensions
Department of Personnel & Training
Black-IV. Old INU Campus.
New Delhi. May 20. 2015
Subject: Inclusion of Aadhaar (Unique identification) number in Service Book of Government servants
The undersigned is directed tn refer to Department ef Personnel & Training’s OM. at even number dated 3rd November. 2014 en the subject mentioned above. where all Ministries/ Departments were requested to ensure that the service books of all employees have an entry ef the employees’ Aadhaar number.
2. All Ministries/Departments of the Government of India are requested to intimate action taken in this regard and also the number of employees whose service books have been seeded with there respective Aadhaar number.
One Rank One Pension – Modi may announce Ex-servicemen’s long-pending demand later this month
‘Narendra Modi may announce one-rank one-pension later this month’
Prime Minister Narendra Modi is likely to make an announcement later this month on ex-servicemen’s long-pending demand of one-rank one-pension.
Rao Inderjit Singh, Minister of State for Defence on Tuesday told media persons that since coming to power in May last year the National Democratic Alliance consulted all stakeholders on the issue and then arrived at a decision.
“We came to power in May last year. Over the past one year we have consulted political parties, all stakeholders on one-rank one-pension, whether they are servicemen or ex-servicemen ,” he said.
Read more at www.indiatoday.intoday.in
Postponement of Cadre Restructuring meeting with the Cadre Controlling Authorities to be held under the Chairmanship of the Cabinet Secretary on 21.05.2015
Department of Personnel & Training
(Cadre Review Division)
3rd Floor, Lok Nayak Bhawan,
Khan Market, New Delhi.
Sub: Postponement of meeting with the Cadre Controlling Authorities to be held under the Chairmanship of the Cabinet Secretary on 21.05.2015.
With reference to this Department letter dated 12th May, 2015, it is hereby informed that the meeting with the Cadre Controlling Authorities to be held under the Chairmanship of the Cabinet Secretary on 21.05.2015 is postponed till further notice.
However, it is requested that comments of the cadre controlling authorities on the proposed changes in the procedure outlined in OM No. l-11011/1/2009-CRD dated 14.12.2010 and l-11019/12/2008-CRD dated 19.11.2009 may be sent to email ID email@example.com by 9th June, 2015.
Charging of damages for unauthorized occupation of defence pool accommodation and recovery of licence fee:-
Office of the Controller General of Defence Accounts
Ulan Batar Road, Palam, Delhi Cantt -110010
No:- 10243/AT-X/Vol-VI Dated :- 13-5-2015
All Regional PCsDA/CsDA
Sub:- Charging of damages for unauthorized occupation of defence pool accommodation and recovery of licence fee when defence pool accommodation allotted to ineligible persons/ organization/private parties.
A copy of GOI MOD letter No. B/68628/Policy(QTr)/24/F/D(Q&C)/15 dated 21.4.2015 on the above subject has been uploaded on the website of HQrs office. Please download The same for information and necessary action please.
Government of India
Ministry of Defence
New Delhi: 21 Apr 2015
l. The following amendments are made to this Ministry’s letter No. B/68628/Q3(Bl/2450/D(Q&C) dated 27.05.1988 and as amended from time to time with last corrigendum No. B/68628/Policy (Qtr)/555/D(Q&C)/07 dated 22 May 2007 regarding charging of damages for unauthorised occupation of defence pool accommodation and recovery of licence fee when defence pool accommodation is allotted to ineligible persons/ organization/ private parties. The existing entries against para 2a, 3 and 5 may be deleted and substituted as follows:-
(a) For : PARA 2(a)READ
(a) Delhi/New Delhi- The damages rates for unauthorised occupation of Defence Pool accn for Delhi and New Delhi shall be 40 times Licence Fee amt applicable to service personnel per month in respect of Type ‘A’ to ‘D’ (Type I to IV) accommodation, 50 times Licence Fee applicable to service personnel per month in respect of Type ‘E’ and ‘F‘(Type V & VI) and 55 times Licence Fee applicable to service personnel per month in respect of type ‘G’ to ‘H’ (Type VII & VIII). in addition, garden and other charges, as applicable shall also be recovered.
(b) FOR : PARA 3READ
(a) So far as para 2 (a) is concerned these orders will be effective from 15 Jan 2018 and will remain in force till further orders. The rates revised under para 2 (b) & 2(c) would be effective from the date of promulgation of revised rates by the respective local CPWD &MES authorities as the case may be.
(c) FOR : PARA 5READ
The rates of damage as above would be the rates to be charged from unauthorised occupants. These rates would be effective from the dates mentioned in para 3 above and all pending cases prior to the above period may be disposed of based on the pre-revised orders. Unauthorised occupation beginning from the date of effect of the revised orders or a subsequent date would come within the purview of revised rates of damage.
This issues with the concurrence of Ministry of Defence (Finance/Works-III) vide their ID No 66/F/W-III dated 06 Apr 2015.
Expected DA from July 2015: Falling additional DA hike; Decreasing curiosity among employees
Along with the decreasing percentage of additional Dearness Allowance, there is also a noticeable fall in interest among employees to know more about ‘Expected DA’…!
“There was tremendous curiosity when initial reports surfaced that ‘Expected DA’ could be as high as 10% in 2013. But, now, when the expectation is fixed at around 5%, readership for the topic has decreased considerably.”
Dearness Allowance for Central Government employees, which is given once every six months, is currently expected to be not more than a very minimal 5%.
Additional Dearness Allowance from July 2015 is based on the fluctuation in price of essential commodities between the months of January and June 2015. With the CPI(IW) data available for only three months as of now, the general prediction is that if the AICPIN falls by 6 points total in three months, the additional DA could be as low as 4% from July 2015.
The chances of a 6% of additional DA increase with effect from July 2015 are very minimal.
Statistics of AICPIN of the next two months will decide if the next additional DA is going to be 5% or 6%.
Why is Dearness Allowance, which is given once every six months in order to help the salaried class manage the increasing prices of essential commodities, so important this time?
What has DA got to do with the 7th Pay Commission? and
What is the connection between the 7th Pay Commission and Dearness Allowance?
Let’s look at them in detail (Click here to continue…)
Meetings held by 7th Pay Commission (as on 12.5.2015)
||At Guwahati: AIS officers of Assam and Arunachal Pradesh
||At Shillong: AIS Officers of Meghalaya; Commissioner, Central Excise and Customs; DG Assam Rifles; IG CRPF; Secretary NEC; Regional Coordination Committee of Central Government Employees & Workers, North Eastern Region; Accounts Category-III Association; NIC Meghalaya
||At Shillong: NR Railway Pensioners’ Association; Depot Fire Staff Welfare Committee; Zoological Survey of India; Survey of India; Botanical Survey of India; Additional PCCF, MOEF
||Associations of Group A Engineering Services
||Delhi Prosecutors Welfare Association; Delhi Information & Public Relation Officers Association
||Associations of Officers representing Indian Cost Accounts Service, IES, Indian Statistical Service
||FROA; Associations of Officers representing IRTS, IRSSE, IRAS, IOFS
||Associations of Officers representing Indian Postal Service, Indian P&T Finance & Accounts Service, IDAS, Indian Legal Service
||Associations of Officers representing IA&AS, Indian Civil Accounts Service, IRS, IC&CES
||Associations of Officers representing IPS, Indian Foreign Service, IIS
||Associations of Officers representing IAS, Indian Forest Service
||Central Electricity Regulatory Commission (CERC); Petroleum and Natural Gas Regulatory Board (PNGRB); Competition Commission of India (CCI)
||Telecom Regulatory Authority of India (TRAI); Securities and Exchange Board of India (SEBI); Pension Fund Regulatory and Development Authority (PFRDA); Warehousing Development Regulatory Authority (WDRA); Airports Economic Regulatory Authority of India (AERAI)
||National Federation of Indian Railwaymen (NFIR)
||National Federation of Indian Railwaymen (NFIR)
||All India Railwaymen Federation (AIRF)
||All India Railwaymen Federation (AIRF)
||National Federation of Atomic Energy; Central Secretariat Non-Gazetted Employees’ Union
||Indian National Defence Workers Federation (INDWF); Bharatiya Pratiraksha Mazdoor Sangh
||All India Defence Employees’ Federation (AIDEF); Confederation of Defence Recognized Associations (CDRA)
||Income Tax Employees’ Federation; Indian Audit & Accounts Service Officers Association
||Federation of National Postal Organizations
||National Federation of Postal Employees
||National Council, JCM – Staff Side
||National Council, JCM – Staff Side
||National Council, JCM – Staff Side
||Bharat Pensioners’ Samaj; Central Government Pensioners, Welfare Association; India Ex-Services League; National Ex-Servicemen Co-ordination Committee
||At Port Blair: Central Government Employees Welfare Coordination Committee; Federation of Pharmacist Association (FIPO); Pensioners Association (JN Chander); Central Islands Agricultural Research Institute; Specialist Doctors Association; Light House and Light Ships Staff Association; Andaman and Nicobar Group “D” Medical Employees Association; Andaman and Nicobar Island Doctors Health Service Association; Andaman and Nicobar Teachers’ Association
||At Port Blair: Tech. Staff Association Andaman Lakshadweep Harbour Works; Andaman and Nicobar Forest Executive Staff Association; All India Forest Range Officers Federation; A&N Islands State Forest Service Association; Employees of Agriculture Department; The Non Gazetted Government Officers’ Association; Andaman Technical Agriculture Employees Association; Government Employees Federation; Botanical Survey of India Employees Association; Andaman & Nicobar Islands Cooperative Department Executive Employees Association; Sub Committee on IT Non Gazetted Government Officers’ Association; Akhil Bharatiya Rashtriya Shaishhik Mahasangh
||At Kolkata: All India Railway Accounts Staff Association, SER Chapter; Technical Assistants’ Association of IIEST; All India Postal Stenographers’ Association; Eastern Railwaymen’s Congress (ERMC); All India Data Processing Officers’ Association; National Institute for the Orthopedically Handicapped Staff Association; Commercial Intelligence Union; Commercial Intelligence and Statistics Employees Association; Employees’ Association, CAT-III, Office of AG, WB; All India Customs Ministerial Officers’ Association; All India Customs Ministerial Employees Federation; National Library Employees Association; East Coast Railway Engineers’ Association; The Company Law Administrative Employees Association; Joint Council of Action of Income Tax Associations, WB; MTP Railwaymen’s Union
||At Kolkata: All India P&T SC/ST Employees’ Welfare Association, WB Postal Circle; All India (Postal) Administrative Offices Employees Union; Postal Engineers’ Association; National Atlas & Thematic Mapping Organization Employees’ Association; IAS Officers’ Association; Indian Forest Service (IFS) Officers’ Association; IPS Officers’ Association; GSI Scientific Officers’ Association (GSISOA); GSI Employees Association; BARC Officers’ Association; All India Postal Administrative Offices’ Association; National Library Staff Association; National Defence Non-Gazetted Staff Association; National Defence Group ‘B’ Gazetted Officers’ Association; OFB Retired Employees’ Association; All India Ordnance Factories Teaching Staff Association; Indian Railway Medical Laboratory Technologists Association; Indian Ordnance Factory Gazetted Officers Association; National Federation of Printing, Stationery and Publication Employees
||At Jodhpur: Jawahar Navodaya Vidyalaya Samiti; All Staff & Welfare Inspectors of North Western Railway; Retired ICAR Employees Welfare Society (RICAREWES); National Union of Postal Employees (Group-C); All India Train Controllers Association; KVS; All India Ex Para Military Association; Legal Men’s Association (Railways); BRO; Rajasthan Radiographer Association
||At Jodhpur: Laboratory Technician Union, Rajasthan; Aids Control Employees Infection Diseases Centre; Coordinating Committee Central Government Pensioners Organisation, Rajasthan State; All India Pensioners’ Forum for Retired Officers of Central Ex. Customs & Service Tax Deptt.; Defence Laboratories Employees Union; All India Association of Clerical Employees of Ordnance Factories (AIACEOF); Rashtriya Raksha Ayudh Karamchari Sangh; North West Railway Engineers Association; Association of Railway Nurses of India; Indian Railways Technical Supervisors Association; All India Loco Running Staff Association; Public Prosecutors RPF
||Registrar (Administration), Supreme Court of India
||Indian Defence Service Engineers
||At Hyderabad: South Central Railways Employees Sangh; SVP NPA Employees’ Association; Nuclear Fuel Complex, IWU, NUFCOSSA and NFCSAA; Rail Mazdoor Union; All India MES Civilian Engineers’ Association; NIMS Paramedicals Employees Union & Society of Indian Radiographers; All India Central Government Deaf Employees; Scientific Workers Association; All India Retired Railmen’s Federation; All India MES Civilian Engineers’ Association (AIMCEA); ISRO Retired Employees’ Forum; Postal Officers Pension Association; Accountant General Office Pensioners Association; Naval Armament Inspectors Organization; National Defence Group “B” Gazetted Officers’ Association (NDGBGOA); Ordnance Factory Mazdoor Sangh; Government Employees National Confederation (GENC); South Central Railway Engineers Association (SCREA)
||At Shimla: HP State Coordination Committee of Central Govt. Employees and Workers; SAS (Accounts) Association; Central Research Institute Employees’ Association; All India NIC S&T Officers’ Association; All India Postal Administrative Officers’ Employees Union Group “C” and “D” NFPE; All India Association of Inspectors and Assistants Superintendents, Posts; All India Postal Employees Union Group “C”; IAS Officers’ Association
||At Mumbai: IPS Association, Maharashtra; Assistant Audit Officers’ Association; Competent Authority – SAFEMA/NDPSA; Indian Revenue Service Promotee Officers’ Association; Indian Revenue Service Association, Mumbai; Films Division Cameramen; Indian Naval Armament Service Association; Directorate of Marketing and Inspection Employees’ Association, Forest Survey of India
||At Mumbai: All India Defence Pharmacist Association; Orthotics and Prosthetics Association of India; All India CGHS Employees’ Association; All India Association of Statistical Investigators; National Railway Mazdoor Union; All India Naval Technical Supervisory Staff Association; Ordnance Factories Group B Gazetted Officers; National Defence Non-Gazetted Staff Association; All India Association of Non-Gazetted Officers; The Naval Employees’ Union, National Defence Group ‘B’ Gazetted Officers Association
||At Mumbai: ISRO Pensioners’ Association; Directorate of Purchase and Stores Employees’ Association; Atomic Energy Workers and Staff Union; National Federation of Atomic Energy Employees; Atomic Energy Workers and Staff Union; BARC Employees’ Association, Tarapur; All India Association of Inspectors and Assistant Superintendents; All India Savings Bank Control Employees’ Union; All India Central Labour Welfare Organization Staff Association; Central Government Pensioners’ Welfare Association
||At Mumbai: Central Railway Promotee Officers’ Association; Central Railway Mazdoor Sangh; All India Train Controllers’ Association; Central Railway Engineers’ Association; Bhartiya Pratiraksha Mazdoor Sangh; All India Loco Running Staff Association; Western Railway Motormen’s Association; Indian Railways Radiographers’ Association; All India Loco Inspectors’ Welfare Association; Rashtriya Bhartiya Khani Vibhag Karmchari Sangh; Indian Bureau of Mines Employees’ Association; Central Water and Power Research Station; Indian Forest Service Association, Maharashtra
||S30 Retired Pensioners’ Association; PFRDA
||Director General and Other officers of Defence Estate
||At Leh: Personnel of Indian Army, Indian Air Force, Defence Institute of High Altitude Research, DRDO, BRO, ITBP, MES, All Ladakh Central Government Employees Association
||At Dehradun: Non-Gazetted Officers’ Association, LBSNAA; National Institute for the Visually Handicapped Employees’ Union; Ministerial Staff Association, Survey of India; Topographical Staff Association, Survey of India; Class III Service Association, Survey of India; Central Government Library Association; Faculty, Indira Gandhi National Forest Academy; Indira Gandhi National Forest Academy Staff Association; Faculty, Indian Council of Forestry Research and Education
||At Dehradun: National Defence Medical Laboratory Technical Staff Association; All India Association of Clerical Employees of Ordnance Factories; Employees Union Ordnance Factory, Dehradun; All India Association of Non-Gazetted Officers of Ordnance & Equipment Factories and Quality Assurance Organization; Staff Association, Rashtriya Indian Military College; All India DGQA Engineers Association; Wildlife Institute of India
||Indian Ex-servicemen Movement
||BSF Officers; Forum of retired CAPF officers
||Aviation Research Centre
||RPF Group ‘A’ Officers, IIM Bangalore
||Disabled War Veterans (DISWAVE) Association, DG Bureau of Police Research and Development
||At Bangalore: IAS Officers’ Association, IPS Officers’ Association, IFS Officers’ Association
||At Bangalore: IIM Bangalore, ISRO
||At Bangalore: Army Base Workshop (EME) Diploma Holders Association, Bangalore, Air Force Store Keepers Association, All India NCC Defence Civilian Employees Association, Confederation of Central Government Employees and Workers – Karnataka State, Atomic Energy Employees Federation, All India Central Excise Inspectors Association, The Indian Hospital Pharmacist Association, Indian Railway Loco Runningmen Organisation, South Western Railways Engineers Association, Railway Wheel Factory, South Western Railway Employees Sangh, All India DRDO Personal Staff Association, DoS Pensioners Forum, Central Government Pensioners Association, Indian Institute of Horticulture Research Employees’ Association, NIMHANS, Veterans Association, All India Loco Running Staff Association
||Physiotherapy Forum; Indian Ordnance Factories Group’B’ Gazetted Officers Association
||Commissioner, Kendriya Vidyalaya Sangathan; Commissioner, Navodaya Vidyalaya Sangathan
||Confederation of Central Government Gazetted Officers Association; National Ex-Servicemen Co-ordination Committee; Indian Ex-Services League
||Bharat Central Pensioners Federation; Bharat Pensioners Samaj; Group ‘B’ Indian Information Service Association; Indian Postal Service Officers Association; DANICS Officers Association; Group ‘B’ Indian Ordnance Gazetted Officers Association
||Police Commissioner, Delhi; DG Coast Guard; IOFS Officers Association
||Director, IB; Director, CBI; Director, RAW
||Indian Economic Service Officers Association; Indian Statistical Service Officers Association; IFS Officers Association; DGs of CAPFs (BSF+ITBP+Assam Rifles+Sashastra Seema Suraksha Bal); DGs of CAPFs (CISF+CRPF+NSC)
||IFS Officers Association; PFRDA; Officers of Department of Financial Services, MOF; Officers of Department of Pension & Pensioners Welfare; P&T Finance Accounts Gr.A Officers Association; IRAS Officers Association; Central Health Service Association
||IAS Officers’ Association; Central Engineering Services Officers’ Association (Water+Power+Architecture); Central Engineering Services Officers’ Association (Civil+Electrical+Mechanical+Road Transport+Telecom); Income Tax Officers’ Association; Custom Officers Association; Central Excise Officers Association
||IPS Officers’ Association; Representative of Pay Commission cells of Army, Navy and Airforce; Indian Audit and Accounts Service Association; Cost Accounts Association; Civil Accounts Association; Federation of Railway Officers
7CPC, Employees News, General news, Latest News Tags:
7CPC, 7th Central Pay Commission, 7th CPC Latest News, 7th CPC News, 7th CPC Pay Scale, 7th Pay Commission Meetings, 7th Pay Commission News, Meetings held by 7th Pay Commission
Railways: Indigenous system of medicine-Homeopathic/Ayurvedic dispensaries-revised policy reg.
New Delhi dated 18.05.2015.
The General Managers (Personnel)
All Indian Railways including
Sub: Indigenous system of medicine-Homeopathic/Ayurvedic dispensaries-revised policy reg.
Kindly refer to Board’s guidelines on the issue of Indigenous system of medicine issued under Board’s letter dated 23.7.2014 in the subject matter.
2. Pursuant to the requests received from the federations and zonal railways, Board have reconsidered the matter and have decided as follows:
(i) The ceiling limit of the number of Homeopathic and Ayurvedic dispensaries fixed vide Board’s instructions dated 23.7.2014 stands withdrawn. As such there will be no ceiling limit on the number of dispensaries in each zone/PU etc till further decision is taken in the matter.
(ii) The existing consultants working in 8 hourly Homeopathic and Ayurvedic dispensaries may be allowed to continue, with the approval of respective SBF Committee. fresh engagement in these dispensaries should be done on 4 hourly basis.
(iii) The facilities extended to the practitioners (in 8 hourly dispensaries) prior to issue of aforesaid instructions dated 23.7.2014 may continue till such time they remained engaged with the approval of SBF Committee.
(iv) Monthly honorarium for Ayurvedic Dispenser working in 8 hourly and 4 hourly basis stands revised to Rs.9000/- and Rs.7100/-.
(v) Monthly subsidy on medicines for Ayurvedic Dispensaries stands revised to Rs.9800/-.
3. Other terms and conditions as stipulated vide Board’s letter dated 23.7.2014 would continue to be the same.
4. These orders are applicable from the date of issue of Board’s letter dated 23.7.2014 excluding-items at (iv) and (v) above which will be effective from the date of issue of this letter.
5. This issues with the concurrence of the Finance Directorate of Ministry of Railways.
Please acknowledge receipt.
MINISTRY OF LABOUR AND EMPLOYMENT
QUESTION NO 1966
Measures for pension beneficiaries under EPF
1966 Dr. Satyanarayan Jatiya
Will the Minister of LABOUR AND EMPLOYMENT be pleased to state the measures taken by Government to meet the demands of pension beneficiaries under the Employees’ Provident Fund Pension Scheme, 1995 for increasing minimum pension to a respectable level of Rs. 3000 for better standard of living and provision for Dearness Allowance as per price index and fixation of pension on the basis of total length of service?
MINISTER OF STATE (IC) FOR LABOUR AND EMPLOYMENT (SHRI BANDARU DATTATREYA)
As per the provisions contained in the Employees’ Pension Scheme (EPS), 1995, pension to employees who joined on or after 16.11.1995 is calculated on the basis of pensionable service and pensionable salary. EPS, 1995 is a largely self-funded scheme with combined features of “Defined Benefit” and “Defined Contribution.” Accordingly, the Scheme describes the rate of contribution payable as well as the scale of benefits admissible. Para 32 of the EPS, 1995 provides for annual valuation of Employees’ Pension Fund by a Valuer appointed by the Central Government. Based on the results of such valuations and health of Employees’ Pension Fund and to ensure the sustainability and viability of EPS, 1995, actuarial impact on the Scheme due to any increase in benefit is required to be kept in view. Therefore, providing a minimum pension of Rs. 3,000/- to lakhs of existing pensioners and crores of prospective pensioners has very huge financial implications and could jeopardize the existence of the Pension Fund itself.
However, Government vide notification No. GSR 593 (E) dated 19.08.2014 implemented the provision of minimum pension of Rs.1,000/- per month with effect from 01.09.2014 for the financial year 2014-15 by providing budgetary support keeping in view the interest of the most vulnerable sections. The Union Cabinet in its meeting held on 29.04.2015 has approved the continuation of minimum pension of Rs. 1,000/- per month in perpetuity under EPS, 1995 beyond 2014-15 with certain conditionalities.
Further, index-linking of pension, i.e., increase in pension to fully neutralize inflation was considered by the Expert Committee constituted by the Government to review EPS, 1995, and the same was found not feasible through a funded scheme like EPS, 1995 wherein the contribution of employer and Government is at a fixed rate of 8.33 per cent and 1.16 per cent.
Source: ENGLISH VERSION HINDI_VERSION