Retirement age: Will the retirement age increase in the future?Such discussions have once again given birth to an EPFO report. According to the Economic Times report, there is talk of increasing the retirement age in the EPFO’s Vision 2047 document.Let us tell you that at present the average age of retirement is 60 years.
According to the provisional data of EPFO published on 20 August 2022, 18.36 lakh people had become members of Employees’ Provident Fund Organization till June this year.There has been an increase of 9.21 percent in the number of EPFO members as compared to May 2022.On a year-on-year basis, 5.53 lakh more people became EPFO members in June 2022 as compared to June 2021.
In June 2022, a total of 18.36 lakh people had become members.Out of which 10.54 lakh people were new.The good thing is that from June 2022, new members are joining EPFO very fast.At the same time, this year there are 7.82 lakh people who had exited from EPFO but then they have joined.Or have you transferred your old fund to the new one.
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In June 2022, 4.72 lakh people in the age group of 22 years to 25 years had become EPFO members.These figures are indicating that the condition of the Indian economy is getting better with time.These are signs of improvement in the service sector.
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