The Employees’ Provident Fund Organisation (EPFO) is soon going to hire retired government officers and senior employees on a contractual basis to fill the manpower gaps in its departments.
In a circular dated February 19, 2026, the EPFO said the move was necessary to manage existing vacancies and ensure uninterrupted functioning of the organisation, which oversees retirement savings for millions of subscribers across the country.
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"The Organisation faces the need for engagement of retired Officers and Employees of Government including EPFO in view of the vacancies existing in various cadres in EPFO in order to tackle specialised issues for which the existing personnel may not have the required competency," the circular stated.
Thousands of vacancies across cadres
The EPFO is currently grappling with more than 4,000 vacancies across different divisions, according to internal estimates. Officials said delays in recruitment and the time required to hire specialised consultants from the open market have affected operational efficiency.
"To avoid disruption due to staff shortages, arrangements for fulfilling the requirement will be done by hiring or engaging retired officers and employees on a contract basis," the circular noted.
The appointments are expected to provide immediate expertise while longer-term recruitment processes continue.
Focus on EPFO’s investment division
The first phase of the hiring process will focus on the investment division of the EPFO, which handles a corpus of over ₹28 lakh crores. This division is very important for the EPFO as it helps protect the contributions of the members and provides them with stable returns in the form of debt securities and equity-linked investments.
The retired employees hired in the first phase will work as independent advisors to the investment committee of the EPFO. Their responsibilities will include reviewing investment strategies, monitoring fund managers, assessing risk exposure, and ensuring compliance with approved guidelines.
Who is eligible to apply
According to the circular, the EPFO will consider retired officers who held senior positions in public sector banks and financial institutions.
"Retired officers of the rank of General Manager of SBI or above, or equivalent ranks in public sector financial institutions and regulatory bodies such as RBI, SBI and LIC, may be considered," the organisation said
Candidates with professional qualifications such as Chartered Accountant (CA), Chartered Financial Analyst (CFA), Financial Risk Manager (FRM), or those with prior regulatory experience will be given preference.
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The contractual appointments will initially be for one year and may be extended annually. However, no engagement will continue beyond five years from the officer’s date of retirement.
Strengthening oversight and risk management
Officials said the move would improve oversight of EPFO’s debt portfolio managers and exchange-traded fund providers. Retired officers will also assist with treasury operations, risk controls, default management, and compliance checks.
The EPFO said the engagement of experienced professionals would strengthen decision-making, enhance accountability, and protect the long-term interests of its subscribers.
