EPFO 3.0: A New Era for Retirement Savings

Union Labour Minister Mansukh Mandaviya has announced the imminent launch of the "EPFO 3.0 version," a groundbreaking update that promises to revolutionize how subscribers interact with their provident funds. This enhanced version will introduce the convenience of withdrawing provident funds directly from ATMs, among other innovative features.

Empowering Subscribers with Enhanced Accessibility

Speaking at the inauguration of EPFO's Telangana zonal office and regional office in Hyderabad, Mandaviya emphasized that the upcoming version would elevate EPFO to the standards of banking systems. "With the universal account number (UAN), subscribers will enjoy seamless transactions akin to those in banks, eliminating the need for physical visits to EPFO offices or reliance on employers for fund withdrawals," he stated.

Commitment to Efficiency and Modernization

Mandaviya also highlighted the significant reforms EPFO is undergoing under Prime Minister Narendra Modi's leadership, aimed at enhancing service efficiency and accessibility. These reforms include streamlined fund transfers, faster claim processing, and the ability to withdraw pensions from any bank, all designed to modernize the organization and provide seamless services to its beneficiaries.