EPFO Board Meets in Delhi on 19 November: Will the EPS Minimum Pension Rise From ₹1,000?

The Employees' Provident Fund Organisation (EPFO) board, the Central Board of Trustees, meets for the 240th time on 19 November 2026. The meeting was first planned for Gir in Gujarat. It will now be held at EPFO's head office in East Kidwai Nagar, New Delhi, according to The Economic Times and Mint.

Media reports say the board may take up a long-pending proposal to raise the minimum monthly pension under the Employees' Pension Scheme (EPS), 1995. Several reports, including The Economic Times and Mint, mention a possible rise from ₹1,000 to ₹3,000 a month.

Nothing has been decided. As of 13 November, the government has not confirmed the proposal or its amount, and the detailed agenda had not been made public, according to Tribune India and Mint.

The minimum pension in short

• Current floor: ₹1,000 a month. It was set in 2014 and has not changed since. The government gives budget support to keep it at that level.
• What is reported: a possible rise to ₹3,000 a month.
• What pensioner groups want: ₹7,500 a month plus dearness allowance, according to Tribune India.

How EPS works, in plain words

• Where the money comes from: out of your employer's 12% PF contribution, 8.33% goes to EPS. This is worked out on pay up to the wage ceiling.
• The wage ceiling: it is being raised from ₹15,000 to ₹25,000 a month, effective 17 September 2026, according to Tribune India.
• How the pension is worked out: monthly pension = (pensionable salary × years of pensionable service) ÷ 70. Pensionable salary is the average monthly pay of your last 60 months.
• Why a minimum matters: people with short service or low pay often get a formula result below ₹1,000. The floor lifts them to the minimum.

Why this matters to people who work in banks, NBFCs and insurers

EPS is not only a retirement topic. For many people in finance, it is part of their pay today.

Most entry-level jobs in lending are client-facing roles with modest fixed pay. Finploy's job data (February 2025 to October 2026) shows a median fixed pay of about ₹3.5 lakh a year for front-line lending sales and about ₹2.6 lakh a year for collections roles. That is roughly ₹29,000 and ₹22,000 a month in total fixed pay. Basic pay is only a part of that. So for many front-line staff, basic pay sits below the new ₹25,000 ceiling, and EPS is worked out on their full basic pay.

Three practical points:

• Check your payslip. See how much of your PF goes to EPS and on what pay it is worked out.
• Keep your service continuous. When you change jobs, transfer your PF account instead of withdrawing. EPS pension depends on years of service.
• Do not plan on a reported number. Wait for an official EPFO or Labour Ministry notification before you change any savings plan.

For HR and payroll teams

If the board approves a change, it will still need a government notification before it takes effect. Payroll teams in banks and NBFCs should watch for that notification, and be ready to answer staff questions on EPS, the wage ceiling and service transfers.

Frequently asked questions

When and where is the 240th EPFO CBT meeting?

On 19 November 2026 at EPFO's head office in East Kidwai Nagar, New Delhi. It was earlier planned for Gir, Gujarat.

Will the EPS minimum pension rise to ₹3,000?

Reports say the board may consider a rise from ₹1,000, possibly to ₹3,000. The government has not confirmed it, and nothing is decided.

How is EPS pension calculated?

Monthly pension = (pensionable salary × years of pensionable service) ÷ 70. Pensionable salary is the average monthly pay of the last 60 months.