Bengaluru, Oct. 29 -- In a reform that could transform India's social security landscape, the Employees' Provident Fund Organisation (EPFO) proposed retaining pension fund accounts for three years after an employee exits service, ensuring that if the member dies within this period, their spouse and children will be entitled to pension benefits.
The proposal, revealed by EPFO Commissioner Salil Sankar, marks a major shift from the existing rule under which non-pensionable members - those with less than ten years of service - lose all future pension rights immediately upon withdrawal of their funds.
"This move is meant to provide continuing social protection to families even after the member has left employment," Sankar said.
"In several c...