The government's stance on a universal minimum pension scheme is clear: no such proposal exists. This clarification comes as a response to recent demands and questions raised by Rajya Sabha MP R. Girirajan, who sought to understand the government's position on providing financial support to elderly citizens, including aged and destitute women. The Ministry of Labour and Employment, through a written reply, firmly stated that there is no proposal to launch a "minimum pension scheme for all."
Instead, the government is focusing on expanding social security coverage through existing legislative frameworks, particularly the Code on Social Security, 2020. This code aims to extend social security benefits to workers in the unorganised sector, including gig and platform workers, by providing for the creation of a Social Security Fund. Section 113 of the Code specifically addresses the registration of unorganised workers, gig workers, and platform workers, bringing them under the social security framework.
The Employees' Pension Scheme (EPS), 2026, is another critical component of the government's strategy. It is a pooled pension fund that receives contributions from employers and the Central government, offering pension benefits to members and their eligible family members when they qualify. Importantly, there is no deadline for filing claims under the EPS, allowing eligible members to submit claims whenever they become due, with pension or withdrawal benefits released along with applicable arrears after processing.
The clarification is timely, as the government is actively implementing the new EPS and expanding social security coverage. However, it is essential to note that the government is not ruling out future considerations for a universal minimum pension scheme. While no immediate proposal exists, the government's focus on existing social security provisions and the expansion of coverage through the Code on Social Security, 2020, suggests a commitment to enhancing the financial security of elderly and economically vulnerable citizens.
In my opinion, this approach is a practical and phased strategy. By building upon existing frameworks and gradually expanding coverage, the government can ensure a more robust social security system. However, the question remains: what future developments will shape the government's stance on a universal minimum pension scheme? Will the government consider such a proposal in the coming years, and what implications would it have for the country's social security landscape?
