Good News for Employees: EPFO May Raise Minimum Pension and Launch ATM Card

Bhubaneswar : The Central Board of Trustees (CBT) of the Employees’ Provident Fund Organisation (EPFO) is scheduled to meet on October 10–11 under the chairmanship of Union Labour Minister Mansukh Mandaviya. Several crucial issues will be taken up, with the biggest being the long-pending demand to increase the minimum pension.

According to sources, the proposal to hike the pension from the current Rs 1,000 to either Rs 1,500 or Rs 2,500 will be discussed. If approved, millions of pensioners across India will benefit. The government is keen to deliver financial relief to EPFO’s eight crore members before Diwali by increasing pension payouts.

Trade unions have been pressing for a revision, arguing that Rs 1,000 is far too little in the present cost-of-living scenario. Many beneficiaries under various government schemes already receive allowances higher than this, making the demand more urgent.

Apart from the pension hike, EPFO is preparing to roll out the third phase of its digital services. The new system will include facilities such as ATM-based withdrawals, faster claim processing, and account updates via digital platforms. Members will be issued a dedicated EPFO ATM card linked to their PF accounts, and withdrawals through UPI are also under consideration.

As per PF withdrawal rules, members who lose their jobs can currently withdraw 75% of their balance after one month, while the remaining amount can be accessed after two months. A pension hike, if cleared, will help senior citizens meet essential expenses like healthcare and medicines more comfortably.