EPFO may hike wage cap to Rs 15,000, increase retirement age

Feb 03 2014, 08:42 IST
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Govt is expected to announce a slew of pre-poll goodies including a minimum monthly pension of Rs 1,000 and a hike in the wage limit to Rs 15,000. (Thinkstock) Govt is expected to announce a slew of pre-poll goodies including a minimum monthly pension of Rs 1,000 and a hike in the wage limit to Rs 15,000. (Thinkstock)
SummaryA higher wage cap is expected to provide social security benefits to at least 50 lakh more workers.

lakh pensioners under the related EPS

* The CBT is also expected to discuss a proposal to increase the retirement age for workers eligible for the Employeesí Pension Scheme to 60 years

* After clearance from the CBT, the labour ministry is expected to take these proposals to the Union Cabinet for final approval

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