July 28, 2017 8:05 PM

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Centre to set up high-power committee to review Employees' Pension Scheme-1995

The Centre will set up a high-power committee to review the Employees' Pension Scheme-1995. Labour and Employment Minister Bandaru Dattatreya said this in the Lok Sabha in reply to a debate on private motion on steps to ensure welfare of employees' provident fund pensioners. Mr Dattatryea said, the committee will look into all the aspects of the scheme and accordingly the government will revamp it.<br/><br/>He said, the NDA government is very sensitive and pro-active for the workers.He said, the government has also decided to extend the coverage of medical benefit scheme to all the pensioners through Employees State Insurance Corporation. To fulfill the Housing needs of the pensioners, Mr Dattatreya said, the government has introduced a credit linked subsidy scheme under which members can avail interest subsidy up to 2.20 lakh rupees.<br/><br/>He said, the pension of the pensioners are being credited into their accounst on first working day of the month. He said, the government is also implementing new Pradhan Mantri Rojgar Protsahan Yojana with the objective of promoting employment generation and one thousand crore rupees have been allocated for this scheme.an allocation of 1000 crore rupees have been made.<br/><br/>Under the scheme employers would be provided an incentive for enhancing employment by reimbursement of the 8.33 per centa EPS contribution made by the employer in respect of new employment. The Minister also said,the government has raised the minimum pension to one thousand rupees. Later, N K Premachandran of RSP who had moved the motion withdrew it.

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