The issue of increase in minimum pension will be considered in the meeting of EPFO CBT. The issue of increase in minimum pension will be considered in the meeting of EPFO CBT.
Modi Government is now going to have good news for the subscribers of the Employees’ Provident Fund Organization (EPFO). Actually, the Modi government can announce an early increase in the amount of minimum pension of PF account holders (Pension Hike). A meeting of the Central Board of Trustees (CBT) of EPFO is going to be held soon.
Many big topics will be discussed in this. After which a decision can be taken on increasing the pension. The main agenda of this meeting is to take a decision on increasing the minimum amount of pension.
Know what the trade unions demanded?
According to media reports, ‘Central trade unions have demanded to increase the minimum pension from Rs 1,000 to Rs 6,000. It is being told that the Central Board of Trustees can do this up to Rs 3,000. In this meeting, the controversial issue of investing EPFO money in private corporate bonds will also be discussed. Along with this, a decision can also be taken on the interest rate of the pension fund for the financial year 2021-22.Agenda being prepared
Significantly, the Central Board of Trustees can also decide to increase the minimum pension. Along with this, let us tell you that the current interest rate of 8.5 percent (Interest on EPF) can continue on the amount deposited in EPF. However, there is little chance of any change in the current interest rate. This meeting was earlier to be held on November 16, but later it was postponed. Apart from this, the issues and agenda of this meeting are also being prepared.
Recommendation to increase interest was made in the meeting
In the last meeting of the CBT which was held in Srinagar in March 2021, it was recommended to give 8.5 percent annual interest rate on the EPF deposits in the accounts of the members for 2020-21. It has also been approved by the Finance Ministry recently.
