Employees’ Pension Scheme (Amendment) Scheme, 2020

Speed Post News Network

New Delhi : Representations have been received from individual Employees’ Pension Scheme (EPS), 1995, pensioners as well as various pensioners associations raising issue of amendments in EPS, 1995 as well as demands, inter-alia, regarding enhancement of minimum monthly pension and restoration of commuted value of pension.

Considering the demands of EPS, 1995 pensioners, the Government had constituted a High Empowered Monitoring Committee for complete evaluation and review of EPS, 1995. Based on Committee’s recommendation, the Government vide Notification dated February 20, 2020, has notified decision to restore normal pension after completion of fifteen years from the date of such commutation, in respect of those members who availed the benefit of commutation of pension under the erstwhile paragraph 12A of this Scheme, on or before  September 25, 2008.

This information was given by Union Minister of State (I/C) for Labour and Employment Santosh Kumar Gangwar in written reply to a question in Lok Sabha on March 16, 2020, according to a PIB release.