Central trade unions have demanded to increase the minimum pension to Rs 6,000. The Central Board of Trustees (CBT) may consider raising it to Rs 3,000. The issue of investing EPFO money in private corporate bonds will also be discussed in the CBT meeting.
New Delhi. The Narendra Modi government at the Center is now preparing to give good news to the subscribers of the Employees’ Provident Fund Organization (EPFO). Actually, the Modi government can soon increase the amount of minimum pension of PF account holders (Pension Hike). The meeting of the Central Board of Trustees (CBT) of EPFO is going to be held soon. In this, a decision can be taken after discussing many big issues. The main agenda of this meeting is to take a decision on increasing the minimum amount of pension.
According to media reports, the central trade unions have demanded to increase the minimum pension from Rs 1,000 to Rs 6,000. It is believed that the Central Board of Trustees can do this up to Rs 3,000. The controversial issue of investing EPFO money in private corporate bonds will also be discussed in the meeting. Along with this, a decision can also be taken on the interest rate of the pension fund for the financial year 2021-22.
The issues and agenda of the CBT meeting are being prepared
The Central Board of Trustees can decide to increase the minimum pension. It is believed that the current interest rate of 8.5 percent on the amount deposited in EPF can continue. There is little chance of any change in the current interest rate. The CBT meeting was earlier to be held on November 16, but later it was postponed. The issues and agenda of the meeting are yet to be prepared.
Recommendation to increase interest was made in the last meeting
The last meeting of CBT was held in March 2021 in Srinagar. The CBT had recommended an interest rate of 8.5 per cent per annum on EPF deposits in the accounts of members for 2020-21. It has been approved by the Finance Ministry recently.
