1. Introduction: Persistent Fight for Justice
EPS-95 For over seven years, pensioners under the Employees’ Pension Scheme, 1995 (EPS-95) have been voicing their demands for a fair and sustainable pension system. Thousands of retirees are urging the government to increase the minimum pension from ₹1,000 to ₹7,500, accompanied by dearness allowance (DA) and free medical treatment for pensioners and their spouses. This decades-old issue was brought to the forefront yet again as a delegation of pensioners met with the Finance Minister, advocating for what they describe as their fundamental right to a dignified retirement.
2. Understanding EPS-95: The Framework and its Challenges
The EPS-95 is a social security scheme aimed at providing financial support to employees post-retirement. Managed by the Employees’ Provident Fund Organisation (EPFO), the scheme has millions of subscribers from various sectors, including organized and unorganized workforces.
However, the program has faced criticism for its meager pension provisions. Despite years of service and contributions, many pensioners receive as little as ₹1,000 per month—an amount insufficient to meet even basic living expenses in today’s economy. 
3. The Pensioners’ Demands: Key Issues Highlighted
A. Minimum Pension Increase
The current minimum pension of ₹1,000 is a major concern. Pensioners argue that inflation and the rising cost of living have eroded the purchasing power of this amount, leaving many retirees struggling to cover essential expenses such as food, healthcare, and housing.
The delegation has demanded a hike to ₹7,500, which they believe is necessary to ensure a decent standard of living.
B. Dearness Allowance (DA)
Inflation-adjusted payouts have been another significant demand. Pensioners are asking for DA to be incorporated into their pensions, enabling them to keep up with rising costs over time.
C. Free Medical Treatment for Pensioners and Spouses
Healthcare expenses are a significant burden for retirees, many of whom are in need of regular medical attention. Pensioners have called for free medical treatment to be extended to both them and their spouses as part of their retirement benefits.
4. Voices from the Ground: Stories of Struggle
A. Living Below the Poverty Line
Pensioners across the country have shared heart-wrenching stories of hardship. Many retirees rely solely on their pensions for survival, often sinking into poverty due to the inadequacy of the current payout.
For instance, Ramesh Tiwari, a retired factory worker, lamented, “I served for 35 years and now survive on ₹1,000 per month. It’s impossible to live with dignity at this amount.”
B. Rising Healthcare Costs
Healthcare expenses form a significant portion of retirees’ budgets. With limited medical facilities and rising costs of medicines and treatments, many pensioners are unable to access necessary care.
5. The Delegation’s Meeting with the Finance Minister
A. The Agenda
The pensioners’ delegation presented their case to the Finance Minister in a detailed memorandum. They outlined the economic hardships faced by retirees under EPS-95 and emphasized the need for immediate intervention.
B. Government Response
While the Finance Minister expressed willingness to review their demands, the government has yet to make concrete promises. Officials acknowledged the validity of the concerns but cited fiscal constraints as a potential hurdle in implementing the changes.
6. The Role of Organizations and Protests
A. EPS-95 Pensioners’ Federation
Organizations like the EPS-95 Pensioners’ Federation have played a crucial role in mobilizing retirees and bringing their plight to the public’s attention. Regular protests, demonstrations, and petition drives have kept the issue alive.
B. Nationwide Agitations
From silent marches to hunger strikes, pensioners have employed various means to push for their demands. In several states, protests have drawn significant public and political attention, adding pressure on policymakers.
7. Comparative Analysis: How India Stands Globally
A. Pension Systems Worldwide
In many developed countries, pension systems are designed to provide retirees with adequate financial support, often supplemented by government welfare programs. For instance:
- United States: Social Security provides retirees with an average monthly benefit of $1,827 (approximately ₹1,50,000).
- United Kingdom: State pensions average around £200 per week (approximately ₹20,000 per month).
India’s minimum pension under EPS-95, in stark contrast, remains significantly lower, reflecting the need for urgent reforms.
B. Lessons for India
India can draw lessons from countries with robust social security systems, incorporating mechanisms to account for inflation and healthcare needs into its pension schemes.
8. Economic Implications of Meeting Pensioners’ Demands
A. Fiscal Burden on the Government
Implementing the demands for a minimum pension of ₹7,500 and added healthcare benefits would require significant financial resources. Critics argue that such measures could strain the exchequer, especially given India’s fiscal deficit challenges.
B. Benefits to the Economy
Conversely, proponents argue that increased pensions would enhance retirees’ purchasing power, stimulating economic activity in sectors such as healthcare, retail, and housing.
9. A Policy Perspective: Potential Solutions
A. Diversifying Pension Funds
The government could explore innovative approaches to fund pension increases, such as public-private partnerships and investments in high-yield securities.
B. Implementing Tiered Pension Systems
A tiered system based on retirees’ contributions and income levels could balance fiscal concerns with the need to support the most vulnerable.
C. Technology-Driven Reform
Leveraging technology for efficient disbursement, tracking, EPS-95 and auditing of pension funds could reduce administrative costs and improve transparency. 
10. The Way Forward: Addressing Core Issues
A. Commitment from Policymakers
Political will is crucial to resolving the EPS-95 pension crisis. Pensioners’ demands are not just financial; they represent a plea for recognition and dignity.
B. Building Public Support
As pensioners continue to agitate for change, public awareness and support will play a critical role in influencing government action.
11. Conclusion: A Long-Overdue Reform
The demand for a minimum monthly pension of ₹7,500 under EPS-95 is not merely a matter of financial aid; it is about ensuring that the individuals who dedicated their lives to the workforce can retire with dignity.
As the delegation awaits a concrete response from the government, EPS-95 the ball is now in the policymakers’ court. Addressing the pensioners’ grievances is not only a moral imperative but also a step toward building a more equitable and compassionate society.
The voices of India’s pensioners must not go unheard. They have waited long enough, and the time for action is now. ALSO READ:- Indian Economy Likely to Be ‘A Little Weaker’ in 2025: Insights from IMF MD Kristalina Georgieva 2025