EPS 95 PENSIONERS LATESR UPDATE | EPFO Reply on Amount lying in In-operative Accounts to be used for the Pensioners of EPS’95 as stated by MoL&E

EPS 95 HIGHER PENSION | EPFO CIRCULAR |  EPS 95 MINIMUM PENSION HIKE 

As you might be aware, in reply to Question no. 240 in Lok Sabha on 18.12.2017, MoL&E had stated that the amount lying in In-operative Accounts will be used for the Pensioners of EPS’95. In RTI application EPFOG/R/E/20/10338/2 dt. 9.8.2020 in Point Nos 5 & 6, the information sought was as under:

5. How much yearly amount has been transferred in the Senior Citizens Welfare Fund during the years 2016-17 to till date in compliance of Senior Citizens Welfare Fund Rules 2016 notified by the Ministry of Finance and by EPFO vide circular dt. 13.10.2017

(a) By EPFO

(b) BY PF TRUSTS of various establishments exempted by EPFO

6. In reply to unstarred question no. 240 in Lok Sabah, on 18.12.2017, MoL&E had informed that the corpus in the inoperative account as identified in the Finance Act 2015 to be transferred to Senior Citizens Welfare Fund WILL BE USED FOR THE PENSIONERS OF EPS 1995. Please intimate the year wise amount spent on the Welfare of EPS 1995 pensioners during 2016-17 to till date.

Reply received on 15.9.2020 is as under

Reply :- Point 5 and 6.

(a) No amount has beentransferred or spent on any welfare Scheme by EPFO so far.

(b) No information available for PF TRUSTS of establishments exempted by EPFO 

Since no information has been provided by EPFO in r/o Point no. 6, I am filing 1st appeal.
AMOUNT IN UNCLAIMED DEPOSIT ACCOUNTS (now called INOPERATIVE ACCOUNTS)
(The words UNCLAIMED DEPOSIT ACCOUNTS have been substituted with the words INOPERATIVE ACCOUNTS vide GSR 228(E) dt. 22.3.2007)

As per the information obtained from time to time, the closing balance of Inoperative Accounts was as under (see further details in the attachments):

• As on 31.3.2011: Rs. 14,914 Crores
• As on 31.3.2012: Rs. 22,636 Crores
• As on 31.3.2013: Rs. 26,496 Crores
• As on 31.3.2014: Rs. 27,448 Crores
• As on 31.3.2015: Rs. 35,531 Crores
• As on 31.3.2016: Rs. 40,865 Crores
• As on 31.3.2017: Rs. 45,093 Crores
• As on 31.3.2018: Rs. 54,658 Crores
• As on 31.3.2019: Rs. 1,638 Crores (Rs. 52,920 Crores transferred from Inoperative to Operative Accounts)

Instead of spending this amount for the welfare of EPS ’95 pensioners (as stated in Lok Sabha by MoL&E on 18.12.2017), EPFO transferred a sum of Rs. 52,920 Crores in 2018-19 to the Operative account. That shows that EPFO doesn’t care even for the commitment made by MoL&E on the floor of the Lok Sabha. 

THIS INFORMATION BASED ON RTI REPLY FROM EPFO 

Categories: 7500+da, EPS 95 LATEST NEWS, Minimum Pension Hike 7500+DA