New Delhi, Oct. 23 -- For many who watch the pension space in India, 2016 was a watershed year. The government decided to split provident fund (PF) settlements into two: one payment at the time of leaving service and the rest to be paid upon turning 58 years old. Feeling deprived, employees protested, and some of the protests turned violent. Watching people take to the streets on an EPF matter was a first.

Last week, memories of 2016 flooded back, and a sense of deja vu overcame me when the Employees' Provident Fund Organisation (EPFO) announced changes to the guidelines governing partial and final PF withdrawals. The internet erupted in anger over the changes, and many raised concerns about the deprivation these changes would mean for e...