Some analysts believe that the Employee Pension Scheme will go bankrupt in a few years raising fears and aspersions among salaried individuals whose savings are locked with the EPFO. Many salaried individuals are unaware that they are eligible for pension after the age of 58. Almost 59% of the respondents to an online survey conducted last week by economictimes. com were unaware that private-sector employees covered by the Employees' Provident Fund are also eligible for lifelong pension.
Read the Economic Times news report here.