EPFO launches a new facility for pensioners today. Check details here
- Union Minister of Labour and Employment Bhupender Yadav also launched a pension and employees deposit linked insurance scheme calculator
Retirement fund body EPFO on Saturday introduced a new facility for pensioners. The Employees' Body Fund Organisation launched a 'face recognition facility' for its 73 lakh pensioners for filing a digital life certificate. The pensioners can avail of this facility from anywhere.
The statutory body said the face recognition authentication will help pensioners who face difficulties in getting their bio-metrics (Fingerprint & Iris) captured due to old age for filing the life certificate.
Union Minister of Labour and Employment Bhupender Yadav who also chairs EPFO's apex decision-making body the Central Board of Trustees (CBT), launched the face authentication technology for pensioners.
The CBT in its 231st meeting on Saturday gave in-principal approval for centralized disbursal of pensions for further improving the EPFO services for pensioners.
The labour minister also launched a pension and employees deposit linked insurance scheme calculator providing an online facility to pensioners and family members to calculate the benefits of Pension and Death Linked Insurance Benefit for which they are eligible.
The minister also released the training policy of EPFO which aims at developing the officers and staff of EPFO into a competent, responsive, and future-ready cadre committed to fulfilling the vision and mission of EPFO as a world-class social security provider.
Under the training policy, 14,000 personnel will be trained annually for 8 days and the total budget will be 3% of the salary budget.
The minister also released the Legal Framework Document with the objective to transform EPFO into an efficient and responsible Litigant to ensure the conduct of litigation in a coordinated and time-bound manner.
He also laid the foundation stone of the Regional Office building, Udupi in virtual mode.
The CBT also approved the appointment of CITI Bank as Custodian of securities of EPFO for three years. The proposal for the extension of the Tenure of ETF manufacturer of SBI MF and UTI MF was also ratified.