EPFO to hire retired senior officials; investment division focus in new contract recruitment plan
The Employees’ Provident Fund Organisation (EPFO) has announced plans to engage retired senior officers and employees on contract to address staffing shortages and improve specialised operational functions.
The recruitment drive will primarily target professionals for the organisation’s investment division, which manages a corpus exceeding ₹28 lakh crore and plays a crucial role in safeguarding retirement savings and generating stable returns for subscribers.
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According to an internal circular dated February 19, 2026, EPFO faces vacancies across multiple cadres and is exploring contract-based hiring because conventional recruitment processes can be time-consuming. The move is expected to help maintain continuity in specialised technical and financial operations.
The organisation is likely to prioritise retired officials who previously held senior positions such as General Manager or higher in public sector banks and financial institutions, including entities like Reserve Bank of India, State Bank of India, and Life Insurance Corporation of India.
Candidates with professional qualifications such as Chartered Accountant (CA), Chartered Financial Analyst (CFA), or Financial Risk Manager (FRM), along with regulatory experience, will be given preference.
The selected retired professionals will work as independent advisors to EPFO’s investment committee. Their responsibilities may include monitoring portfolio managers, reviewing treasury operations, managing risk exposure, and ensuring compliance with investment guidelines.
Initial appointments are expected to be for one year, with possible extension based on performance. However, the total engagement period will not exceed five years after retirement.
The initiative aims to strengthen oversight mechanisms, improve financial decision-making, and support long-term growth of members’ retirement savings. Officials believe the move will help bridge expertise gaps while maintaining operational efficiency.
Published: 25 Feb 2026, 01:19 pm IST
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