Central trade unions have been pressing for Rs3,000 minimum monthly pension and have also demanded its indexing, linking it with inflation. “It is not that they have rejected our proposal (of 8.55% rate of interest on EPF deposits for 2017-18). There is no disagreement on the proposed interest rate. The 8.55% rate of interest would be lowest rate in last five year for subscribers. Government then (in 2014-15) paid around Rs 800 crore for minimum monthly pension of Rs 1,000 under the scheme.”Central trade unions have been pressing for Rs3,000 minimum monthly pension and have also demanded its indexing, linking it with inflation.

Source: Mint April 15, 2018 08:37 UTC