EPFO to consider raising retirement age to 60 yrs in Feb 5 meet

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The proposal, if approved, would immediately benefit 27 lakh pensioners. At present, there are about 44 lakh pensioners. (AP) The proposal, if approved, would immediately benefit 27 lakh pensioners. At present, there are about 44 lakh pensioners. (AP)
SummaryOf this 27 lakh, including 5 lakh widows, get less than Rs 1,000 a month.

trustees will also consider the proposal for computing the pensionable salary. It is proposed to calculate pensionable salary on the basis of average of salary last 60 months instead of 12 months presently.

The pensionable salary is used for fixing pension of the EPFO subscribers after attaining the age of 58 years.

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