EPFO 3.0 platform changes: ATM withdrawals, auto claim settlement, faster processing and more expected

The Employees' Provident Fund Organisation (EPFO) is gearing up to launch an updated platform, EPFO 3.0. It will go live between May and June 2025, the Union Labour and Employment Minister Mansukh Mandaviya said in April.

“EPFO will soon implement Version 3.0 with the help of a robust IT platform to provide seamless and simplified services, including auto-claim settlements, digital corrections, and ATM-based fund withdrawals,” the minister was reported as saying by news agency PTI last month.

One of the major features of the new EPFO platform will be that beneficiaries will be able to withdraw funds directly from ATMs. Here are all the updates you can expect from EPFO 3.0:

EPFO 3.0 expected platform changes

Pension accessibility

EPFO’s reforms include the Centralised Pension Payment System, which enables EPS 1995 pensioners to access their funds from any bank across the country. Offering greater flexibility, beneficiaries can now withdraw their pensions from any bank without the need to visit any specific branch or office for verification. This has led to a faster disbursement of funds, better access and a simplified process for beneficiaries. As of January 2025, nearly ₹1,570 crore was already disbursed to over 68 lakh beneficiaries.

"The full-scale implementation of the Centralized Pension Payments System (CPPS) across all Regional Offices of EPFO is a historic milestone. This transformative initiative empowers pensioners to access their pension seamlessly from any bank, any branch, anywhere in the country. It eliminates the need for physical verification visits and simplifies the pension disbursement process. CPPS is a testament to our commitment to modernizing EPFO services and ensuring convenience, transparency, and efficiency for our pensioners. With this rollout, we are setting a new benchmark in pension service delivery, aligning with the vision of a tech-enabled and member-centric EPFO,” employment minister Mandaviya said on January 3 in a labour ministry release.

The EPFO is also considering integrating other social security schemes like the Atal Pension Yojana and the Pradhan Mantri Jeevan Bima Yojana to further enhance the pension ecosystem in India, making it more accessible for unorganised and informal sector workers.

Grievance portal

Under EPFO 3.0, the provident fund body is expected to improve its grievance redressal mechanism and address the concerns of its members more effectively. The updated version is anticipated to be quicker in issue resolution and offer a user-friendly experience to beneficiaries.

ESIC Services

For healthcare, the Employees’ State Insurance Corporation (ESIC) is working on enhancing its services. ESIC beneficiaries may soon be eligible for free treatment at hospitals aligned under the Ayushman Bharat scheme, ensuring expanded coverage to include private hospitals, as well as charitable hospitals. At present, the ESIC provides medical services to 18 crore Indians through 165 hospitals associated with it.