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EPFO 3.0 to allow employees to increase contribution, ATM Card, Revamped Pension Scheme

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If they issue ATM card, it may make ease of withdrawal. I don't think it is going to allow withdrawal without any constraints. And I think it should be that way. Retirement fund should be saved for retirement. It is so good to see size of my EPF. And I am glad I never removed it. Risk is that it is little more than 1/4 rd of my total saving and if government screws the fund someway, I will need to postpone my planned retirement.
 
tachniki said:
If they issue ATM card, it may make ease of withdrawal. I don't think it is going to allow withdrawal without any constraints. And I think it should be that way. Retirement fund should be saved for retirement. It is so good to see size of my EPF. And I am glad I never removed it. Risk is that it is little more than 1/4 rd of my total saving and if government screws the fund someway, I will need to postpone my planned retirement.
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Even with limitations it would be way better than as is process. Right now withdrawals will test the limits of your patience
 
Axelblaze said:
I read somewhere that we cannot withdraw more than 50% of our EPFO corpus at any given point of time … Hard to believe they will allow 50% withdrawals 🧐
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No, there isn't anything like this you can't withdraw the whole amount. but there are certain rules as this is meant for the retirement so government had made few stringent withdrawal before the retirement that employee can take benefit of!
like unemployment for more than 2 months can withdraw the whole amount
 
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