The government is planning a new pension scheme under the EPFO 3.0 framework. This new plan aims to provide retirement benefits to workers in both formal and unorganised sectors. Members will build a retirement corpus through regular contributions invested in government-backed assets.

EPFO is developing a framework to extend provident fund benefits to self-employed individuals, gig workers, and unorganised sector employees under a universal scheme.

Key features— such as the 12% contribution rate for employers and employees as well as the Rs.15,000 statutory wage ceiling—remain unchanged, but the formalisation of revised…