The decision to provide the entitlement under EPS-95 run by the Employees' Provident Fund Organisation (EPFO) was taken by the Union Cabinet in its meeting held on February 28.
After the Cabinet approval, the decision to provide this entitlement was to be notified by the Labour Ministry, but for the model of code of conduct.
This will immediately benefit about 28 lakh pensioners, including 5 lakh widows.
In all, there are 44 lakh pensioners under the EPFO scheme.
The EPFO's apex decision making body the Central Board of Trustees (CBT) met on February 5 and decided to amend the EPS-95 scheme for the purpose.
