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Minimum monthly pension under EPS set for a hike; Labour Ministry awaits panel report

The Finance Ministry has sought Labour Ministry’s help to fund the proposed hike in minimum pension under Employee’s Pension Scheme (EPS) from its own funds rather than seeking money from the Centre. This comes after Finance Minister Piyush Goyal had in Interim Budget proposed guaranteed pension of ₹3,000 per month. The move is expected to benefit 10 crore unorganised workers.