Vision For EPFO@ 2047

By: Group 6
Anish Girish Joshi
Nitish Kumar
Shubham Mahore
To mark the centenary of India’s
Independence and to meet following
aspirations:

Attaining new heights of prosperity

Building world’s most modern infrastructure
Making the best facilities available both in
the villages and cities
Eliminating unnecessary interference by the
government in the lives of citizens
 5 Years Roadmap @ 2027
 Institutional Framework: Smart and Smaller office pan India
Governance Structure: Tripartite governing Board to be assisted by
domain experts
 Governance Structure: Quadripartite governing board having world
renowned domain specialists
 Coverage: 25% coverage of informal workers
 Technology: Any-device-anywhere-anytime access to services
Regulation: Reducing regulation to a minimum and encouraging self
declarations
 Capacity Building: Developong training outfit of EPFO into a centre of
excellence in social Security
 Investments: Smarter, separate investment for PF and Pension
 Focus Areas: Increasing number and types of Social Assistance Products
 10 Years Roadmap @ 2032
 Institutional Framework: Manned by staff having global expertise
 Governance Structure: Quadripartite governing board having world
renowned domain specialists
 Coverage: 75% coverage of informal workers
 Technology: Use of AI in customer interface
 Regulation: AI driven system enabling early detection of evasion
and auto-triggering of enforcement actions
 Capacity Building: Emerging as global leader in publishing peer
reviewed journals
 Investments: Differentiating investments by age and risk-profile,
investing more in equity for younger members
 Focus Areas: Strong pillar ‘0’ pension provider
 15 Years Roadmap @ 2037
 Institutional Framework: Strong point of presence and service centres in Asia and
Pacific
 Governance Structure: Governing board to have domain experts within the
organization on temporary Co-Option Basis
 Coverage:100% coverage of informal workers
 Technology: Emerge as global leader with state of the art technology on single
back end data hub
 Regulation: Focussed inspection and exemplary punitive action in rare cases
 Capacity Building: Developing EPFO as a leading research HUB on Social
Security
 Investments: Investing pension funds in longer term infra and real estate
 Focus Areas: Increasing number and types of social security products
 20 Years Roadmap @ 2042
 Institutional Framework: Positioning among the top Social Security providers in
the world
 Governance Structure: Domain experts as permanent board members with full
voting rights
 Coverage: Adequacy of benefits benchmarked to international standards for
informal workers
 Technology: Instant real time settlement of benefits
 Regulation: Doing away with inspections completely
 Capacity Building: EPFO to emerge among top 10 training and research centres
in the world
 Investment: Develop investment team specializing in global assets and fund
investments
 Focus Areas: Positioning EPFO as a lead pillar 3 &4 pension provider in India
 25 Years Roadmap @ 2047
 Institutional Framework: Positioned among the top 5 organization globally
 Governance Structure: Invite best global expertise available for specific task
based advise
 Coverage: Sustainability and high level of benefits which are more than adequate
for formal and informal workers
 Technology: Use of DNA based technology for ensuring accurate client
identification
 Regulation: Use of global best cutting edge technologies of the time to reduce
regulation
 Capacity Building: EPFO to emerge among top 5 training and research centres in
the world
 Investments: Expand investments into global infrastructure and equity
 Focus Areas: Increase the social protection floor benefits to a level which would
place in top 5 globally
 CHALLENGES TO EPFO

 Lower Coverage
 New Players in the Market
 Changing nature of work eg Gig Workers, Platform workers
 Adoption of Technology
 Weakness in Software Performance
 Irregular Headwinds in the Economy having adverse impact
on investments eg COVID- 19
 Inadequacy in comprehensive Rules & Regulations
STEPS BEING TAKEN BY EPFO TO
REALISE VISION 2047
 Awareness through Social Media eg SOCIALEPFO
Channel,Twitter Handles, Whatsapp etc
 More coverage through initiatives like NAN2.0 on every 27th of
month
 Member can check exact service history on Member Portal
 Online passbook facility to check Balance through missed
call(9966044425) and text message EPFOHO UAN to
7738299899
 E-office for transparent and seamless interaction inter and intra
offices
 Member can avail online service through a CLICK
 Timely Grievance Redressal through EPFiGMS, CPGRAMS etc
 EPFO CELEBRATING
AMRITKAL

202 203 204 204

2037
7 2 2 7

100% 75% 100% Adequacy of Among

coverage in coverage of coverage of benefits at Top 5
formal informal informal par with Training
sector sector sector Internationa &
l Standards Research
hubs
globally
THANK YOU