EPS-95 New Update: The EPS-95 Movement Committee, a pensioners’ organization, said on Saturday that the Union Minister of Labour, Mansukh Mandaviya, has assured an immediate response regarding their demands. An official statement from the pensioners’ organization added that Labor Minister Mansukh Mandaviya has taken a positive view of long-pending demands of 78 lakh EPS-95 pensioners in the country.
These demands include augmentation of minimum pension, provision for free medical treatment for pensioners and their spouses and rectification of errors in applications for getting higher pension benefits. The minister also assured the delegation of prompt action in dealing with the issues.
Disappointment Over No Announcement In The Budget
Commander Ashok Raut, National President of EP95 National Struggle Committee (NAC), who are for the rights of pensioners, stated that in the very recent discussions with both the Labor Minister and the Finance Minister, assurance has been given soon regarding increment in the minimum pension.
However, there is a general disappointment among pensioners regarding such announcement in the Union Budget 2025-26. An important meeting was held, therefore, between the Minister of Labor as well as the NAC delegation on Friday. During this meeting discussion, Labor Minister Mansukh Mandaviya reaffirmed the government’s effort in the direction of the concern of the pensioners.
By 2030, The Pension Assets Of The Country Will Be Rs 118 Lakh Crore
It is estimated that India’s pension assets under management (AUM) will stand at Rs 118 lakh crore in 2030, while NPS may contribute almost 25 percent to this total. This comes from a report.
NPS private sector AUM has registered phenomenal yearly growth and has leaped from Rs 84,814 crore to Rs 2,78,102 crore, a 227 percent growth over the last five years. As projected out by the DSP Pension Fund Managers’ report, the old-age population of India is probably going to increase 2.5 times by 2050. Besides, the life expectancy rate after retirement is expected to increase on average by around 20 years.
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