The Retirement fund body EPFO introduces a facility allowing over 73 lakh pensioners submitting their digital life certificate using face authentication technology. This face recognition authentication aids the aged pensioners facing difficulties while getting their biometrics captured due to old age in case of filing the life certificate.
Union Minister of Labour and Employment also chairing in EPFO’s apex decision making body the Central Board of TrusteesBhupender Yadav, is credited for launching the face authentication technology for pensioners.
The CBT in its 231st meeting approves centralized disbursal of pensions improving the EPFO services for pensioners.
The rolling out of stages and modalities are going to get evolved further by providing a pension and employees deposit linked insurance scheme calculator with online facility to pensioner and family members.
It is quite beneficial to calculate the Pension and Death Linked Insurance under their eligibility criteria.
The minister also releases the training policy of EPF aiming at the development of the officers and staff of EPFO into a competent, which is quite responsive and future-ready cadre commiting the fulfillment of the vision and mission of EPF as a world class social security provider.
Under the training policy, 14,000 personnel are going to get training annually for 8 days and its total budget will be 3 percent of the salary budget.
The minister also released the Legal Framework Document objectifying a transformation of EPFO into an efficient and responsible Litigant ensuring the conduct of litigation in a coordinated and time bound manner.
Laying a foundation stone of Regional Office building in virtual mode, by K Raghupathi Bhat, MLA Udupi Assembly conducts the Bhoomi Poojan.
The CBT also approved appointment of CITI Bank only as Custodian of securities of EPFO for three years because of the proposal for the extension of the tenure of present custodian Standard Chartered Bank until the new custodian takes over.
The manufacturer of SBI MF and UTI MF was also ratified due to the proposal for the extension of Tenure of the ETF.