Pension News: Pensioners’ organization EPS-95 Movement Committee said on Saturday that Union Labor Minister Mansukh Mandaviya has assured quick action on their demands. A statement issued by the pensioners’ organization said that Labor Minister Mansukh Mandaviya has taken a positive stand on the long-pending demands of 78 lakh EPS-95 pensioners across the country.
According to the statement, these demands include increase in minimum pension, provision of free medical facility for pensioners and their spouses and correction of errors in applications for higher pension benefits. It said the minister assured the delegation of quick resolution of these issues.
Disappointment due to no announcement in budget
Commander Ashok Raut, national president of the EPS-95 National Struggle Committee (NAC), which advocates for the rights of pensioners, revealed that in recent discussions with both the Labor Minister and the Finance Minister, an assurance has been given to increase the minimum pension soon. However, there is widespread disappointment among pensioners as there has been no such announcement in the Union Budget 2025-26.
In view of this, an important meeting was held between the Labor Minister and a delegation of the NAC on Friday. During the discussion, Labor Minister Mansukh Mandaviya reaffirmed the government’s commitment to address the concerns of pensioners.
The country’s pension assets will be Rs 118 lakh crore by 2030
India’s pension assets under management (AUM) are expected to grow to Rs 118 lakh crore by 2030 and the share of National Pension System (NPS) in it can be close to 25 percent. This information was given in a report.
NPS private sector AUM has recorded strong annual growth and has grown by 227 per cent in the last five years to Rs 2,78,102 crore from Rs 84,814 crore earlier. DSP Pension Fund Managers report states that India’s elderly population is estimated to increase 2.5 times by 2050. Also, life expectancy rate after retirement will increase by an average of 20 years.
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