Trustees of retirement fund body EPFO approved a proposal to provide a monthly pension of minimum Rs1,000, a decision that will immediately benefit about its 28 lakh pensioners, reports PTI.

The Central Board of Trustees (CBT), the apex decision making body of EPFO also decided to raise the monthly wage ceiling to Rs15,000 from Rs6,500 by amending the EPF scheme, 1952, so that more workers can be brought under its various social security programmes.

"The board has decided to approve the proposed amendments in the schemes to ensure that Rs1,000 minimum monthly pension under EPS-95 and also increased the wage ceiling to Rs15,000 per month," Labour Minister Oscar Fernandes, who chaired the CBT meeting, told PTI.