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  5. ₹16,649 crore lying in LIC unclaimed funds and inactive EPF accounts; government shares latest data

Personal Finance News

₹16,649 crore lying in LIC unclaimed funds and inactive EPF accounts; government shares latest data

Upstox
By Upstox News Desk

3 min read | Updated on July 22, 2026, 11:50 IST

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SUMMARY

In a written reply to the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said LIC had ₹7,318.50 crore in unclaimed funds as on March 31, 2026. The amount includes ₹5,564.55 crore belonging to policyholders and ₹1,753.95 crore as income accrued on these unclaimed funds.

₹16,649 crore lying in LIC unclaimed funds and inactive EPF accounts

On EPFO, the minister clarified that there are no unclaimed PF accounts. Instead, the money is lying in inoperative accounts. | Image: Shutterstock.

Thousands of crores belonging to insurance policyholders and provident fund members are yet to be claimed. The government on Monday informed Parliament that ₹7,318.50 crore is lying as unclaimed money with LIC, while ₹9,330.56 crore is parked in inoperative EPF accounts. It also shared the steps being taken to help people get their money back.

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₹7,318 crore unclaimed with LIC

In a written reply to the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said LIC had ₹7,318.50 crore in unclaimed funds as on March 31, 2026.

The amount includes ₹5,564.55 crore belonging to policyholders and ₹1,753.95 crore as income accrued on these unclaimed funds.

The minister said LIC is carrying out outreach and awareness activities to identify eligible policyholders, nominees and legal heirs so that the money can be returned to them.

No unclaimed EPF accounts, but ₹9,330 crore in inactive accounts

On EPFO, the minister clarified that there are no unclaimed PF accounts. Instead, the money is lying in inoperative accounts.
"As informed by the Ministry of Labour and Employment, Government of India, there are no unclaimed accounts. However, certain accounts are classified as inoperative accounts. The total amount lying in the inoperative EPF accounts... as on 31.03.2026 is ₹9,330.56 crores," Chaudhary said in the reply.

EPFO starts auto-credit for small balances

The government said EPFO has begun taking steps to make it easier for members to receive their dues.

Awareness drives underway

According to the minister, EPFO has identified and categorised inoperative accounts based on KYC details and is running awareness campaigns through social media and Nidhi Aapke Nikat (NAN) 2.0 camps to encourage members to claim their dues.

What happens to unclaimed LIC money?

The minister also said that under IRDAI's Master Circular dated June 19, 2024, unclaimed LIC amounts that remain unclaimed for more than 10 years are transferred to the Senior Citizen Welfare Fund (SCWF). LIC transfers the eligible amount every year on or before March 1.

However, there is currently no proposal to use EPFO's inoperative account balances for any other purpose, the government told Parliament.

Could some of this money be yours? Here's how to check

Thousands of crores are lying unclaimed across banks, insurance companies and other financial institutions. If you've ever forgotten about an old bank account, let an insurance policy lapse or lost track of a mutual fund investment, you could be among those with unclaimed money. Here's how you can check if any money is waiting to be claimed and the steps to recover it. Read our detailed guide here.
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About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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