EPFO’s apex decision making body the Central Board of Trustee (CBT) will consider a proposal to raise the retirement age of organised sector workers to 60 years for its pension at a meeting scheduled for Wednesday.
Besides, the CBT in this meeting will also deliberate on a proposal to withdraw two years bonus under the pension scheme provided to subscribers after rendering 20 years of pensionable service. These proposals are included in the agenda for the CBT meeting scheduled on February 5 to be chaired by labour Minister Oscar Fernandes.
At present, under the Employees’ Pension Scheme(EPS-95), the subscribers of Employees’ Provident Fund Organisation (EPFO) cease to be a member of the pension scheme and can apply for fixation of his/her pension.