Minister of State for Labour and Employment Rameswar Teli today said under the EPFO promoted Employment Pension Scheme (EPS) there is no proposal for providing Dearness Allowance (D.A) in the monthly pension.
In a written reply to a question in the Lok Sabha the minister said in view of demand of pensioner’s of Employees’s Pension Scheme (EPS), the Government had constituted a High Empowered Monitoring Committee (HEMC) with terms of reference of complete evaluation and review of EPS 1995.
He said the Committee did not recommend provision of linkage of cost of living index with the monthly pension as D.A. relief will severely affect the financial health of the EPFO pension fund.
The EPS was introduced in the year of 1995 with the aim of helping employees in the organized sectors.