South Goa Member of Parliament, Captain Viriato Fernandes, has written to the Minister for Labour & Employment, urging immediate intervention to address transparency issues surrounding the Higher Pension Scheme under the Employees’ Provident Fund Organisation (EPFO) in Goa.
In his letter, Fernandes outlined several critical challenges faced by citizens, particularly senior citizens, who are being deprived of the full benefits of the revised pension scheme. These issues include lack of transparency in pension amount and interest calculations, non-disclosure of the actual higher pension amount and its start date, and the failure to clarify arrears and payment timelines.
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Fernandes highlighted the following grievances:
Lack of Transparency in Due Amount and Interest Calculation
EPFO’s Demand Note does not include a detailed breakdown of how the due amount and interest are calculated. Without this crucial information, members are unable to verify the accuracy of the figures with their records, such as salary slips and contribution statements.Non-Disclosure of Revised Pension Amount and Start Date
Employees who opted for the higher pension scheme have not been informed of the exact revised pension amount or when they will begin receiving it. This lack of communication has left many retirees uncertain about whether opting for the higher pension was financially beneficial.Non-Disclosure of Arrears and Payment Timeline
EPFO has failed to provide clarity regarding the arrears owed to pensioners or the timeline for their disbursement. This uncertainty is causing significant difficulties for retired employees, who are struggling to arrange funds to pay the amount referred to in the demand note.
