Relief for Senior Citizens: Retirement Pension Raised under EPS95-The Government has issued a further increase in death and retirement pension for EPS-95 pensioners. Pensioners would get Rs. 8,000 per month and an increase in DA so that they are better supported financially in their life.
Monthly Pension Increase
The new decision has revised the minimum pension payable toward EPS-95 pensioners from the earlier amount to Rs. 8,000. Lakhs of retired employees ought to get their wishes fulfilled who have long been demanding a hike in such payment. It ensures grafting the living expenses on the pensioners-well up against the rising cost of living.
Increase In Dearness Allowance For Pensioners
Besides pension increase, DA has also been hiked to compensate for inflation. This DA will be calculated on the basis of the revised pension amount, thus increasing a pensioner’s monthly income. This would also provide relief to pensioners who struggle while disbursing medical or grocery bills and other daily expenses.
Who Is Going To Gain From This Update?
The revised pension and DA rise are all set to benefit EPS-95 pensioners all across India, especially those EPS-95 pensioners who retired from the Employees’ Provident Fund Organisation (EPFO) and other covered establishments. Pensioners receiving fewer amounts now have a chance to substantially get a salary raise.
Why Was This Hike Needed?
For over 10 years, EPS-95 pensioners have been protesting for a pension hike. A huge number of pensioners were receiving even as little as ₹1,000–₹3,000 per month, therefore not being able to make their ends meet. Inflation became high, as well as expensive medical bills and the looming cost of living; these had become an eminent necessity for pensioners all to demand an increase.
When Did Pensioners Begin To Receive The Increased Amount?
Per official statements, these revised pension amounts and increased DA are effective from the forthcoming payment cycle, with pensioners expecting to get this increased amount credited to their bank accounts during the next month.
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