How can higher pension be achieved for EPFO members

1. The Employee Provident Fund Organization (EPFO) is considering options to increase pension benefits for its members. 2. A panel meeting is scheduled to deliberate on various strategies, including increasing the pension amount, revising the interest rate, and enhancing the insurance scheme. 3. One way to achieve higher pension benefits is by revising the formula used to calculate pension amounts, taking into account factors like average salary and years of service. 4. Another approach could be to increase the contributions made by both employers and employees, which would result in a higher pension payout upon retirement. 5. Additionally, the panel may explore investment opportunities to maximize returns on EPFO's funds, thereby increasing the overall pension fund pool for members. 6. The outcome of the panel meeting could potentially lead to significant improvements in pension benefits for EPFO members, providing them with a more secure and comfortable retirement.