28 Feb, 2014 09:48 AM

Today's Cabinet agenda : 7th CPC ToR, Retirement age hike, EPFO minimum pension

The Cabinet meeting scheduled for today is likely to take up hiking dearness allowance to 100%, ensuring Rs 1,000 as minimum monthly pension under the pension scheme run by retirement fund body EPFO, raising the retirement age from 60 to 62 years, ToR of the 7th Pay Commission etc. along with other welfare measures.

The cabinet will also decide on hiking dearness allowance to 100 per cent from existing 90 per cent, benefiting 50 lakh employees and 30 lakh pensioners. The hike in DA would be effective from January 1 this year.

The ministerial panel, which has more than 30 items on its agenda, is likely to take up the proposal to raising the retirement age of government employees from 60 to 62 years. The raising of superannuation age was originally a part of the Terms of Reference of the Seventh Pay Commission. Since the Commission report is expected not before 2017, a decision on raising the retirement age cannot happen before that. So, the reference to retirement age has been removed from the ToR of the 7th Pay Commission and it is speculated that the same may be brought as a supplementary agenda.

Another proposal which will bring cheers to pensioners is to ensure Rs 1,000 minimum monthly pension under the pension scheme run by retirement fund body EPFO, which would immediately benefit 28 lakh pensioners.

The Cabinet meeting is likely to take up ordinances on grievance redress and timely delivery of services bill, amendment to Prevention of Corruption Act bill, disability rights bill, SC/ST atrocities bill and Sebi amendment bill.

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A proposal on increasing dearness allowance by 10% for central government employees is also on the list. It is also expected to consider re-promulgating an ordinance to empower the Securities and Exchange Board of India to act against pyramid schemes.