EPFO launched a new facility for pensioners

EPFO launched a new facility for pensioners

The retirement fund body, EPFO launched a new facility for pensioners on Saturday. Nidhi Sangathan, the employees’ body, has launched a ‘Face Recognition Facility’ for filing digital life certificates for its 73 lakh pensioners. Pensioners can use this service from anywhere.

EPFO launched a new facility
EPFO launched a new facility

According to the statutory body, face recognition authentication will assist pensioners who are unable to obtain their biometrics (fingerprint and iris) due to their advanced age when filing life certificates.

Face authentication technology for pensioners

Union Labor and Employment Minister Bhupendra Yadav, who also serves as the head of EPFO’s Central Board of Trustees (CBT), unveiled the facial authentication system for pensioners.

Families can check the benefits of a pension

The Labor Minister also unveiled the Pension and Employee Deposit Linked Insurance Scheme Calculator, which allows retirees and family members to assess the advantages of pension and death-linked insurance benefits to which they are entitled.

In-principle approval

In its 231st meeting on Saturday, the CBT gave preliminary approval to centralized pension disbursement in order to improve EPFO services for pensioners.

Impact of budget

According to the training policy, 14,000 personnel will be trained annually for 8 days, with a total budgeted salary of 3% of the total budget.

Regional Offices will be available in virtual mode

They laid the virtual foundation stone for the Regional Office Building in Udupi.

The CBT also approved Citibank’s appointment as EPFO’s custodian of securities for a three-year period. SBI MF and UTI MF’s proposals to extend their tenure as ETF creators were also approved.

EPFO launched a new facility: Vision and mission

The Minister also announced the EPFO Training Policy, which aims to develop EPFO officers and employees into a competent, responsive, and future-ready cadre that will advance EPFO’s vision and mission. EPFO launched a new facility as a world-class social security provider determined to finish it.

The Minister also issued a legal framework document with the goal of transforming EPFO into an efficient and responsible litigant, ensuring litigation is conducted in a coordinated and time-bound manner.

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