The Employees’ Provident Fund Organisation (EPFO) is planning to elevate its membership status within the International Social Security Association (ISSA) from an associate member to an affiliate member. This upgraded status will provide the EPFO with valuable access to professional guidelines, expert knowledge, and a range of services and support that will benefit its pension subscribers. The affiliation with ISSA will enhance the EPFO’s capabilities and enable it to better serve its members in terms of pensions and social security.
As an affiliate member, EPFO will have full access to ISSA’s resources and services, including
- Training and technical assistance
- Research and development
- Information and knowledge sharing
- Policy dialogue and advocacy
This will help EPFO to improve its services and better protect the interests of its members. It will also help EPFO to stay up-to-date on the latest trends in social security and to share its experiences with other countries.
The move to become an affiliate member of ISSA was approved by the Central Board of Trustees (CBT) of EPFO on March 24, 2023. The CBT is the highest decision-making body of EPFO. The annual membership fee for an affiliate member of ISSA is based on the number of pension subscribers of the member organization. In the case of EPFO, the annual membership fee will be Rs 2.14 crore.
The change in membership status from associate member to affiliate member will take effect from July 1, 2023.
Benefits that EPFO will gain from becoming an Affiliate Member of ISSA
- Improved services for members: EPFO will be able to access ISSA’s resources and services to improve its services for members. This includes training and technical assistance, research and development, information and knowledge sharing, and policy dialogue and advocacy.
- Increased international cooperation: EPFO will be able to cooperate with other social security institutions around the world through ISSA. This will help EPFO to share its experiences and learn from the experiences of others.
- Enhanced global recognition: EPFO will be recognized as a full administrative social security institution by becoming an affiliate member of ISSA. This will boost the image of EPFO and help it to attract more members.
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When was EPFO formed?
When was International Social Security Association (ISSA) formed?
The ISSA’s mission is to promote social security worldwide. It does this by providing a forum for member organizations to share experiences, knowledge, and best practices. The ISSA also provides technical assistance to member organizations, and advocates for social security at the international level.
The ISSA is headquartered in Geneva, Switzerland. It has a staff of over 100 people, and a budget of over $10 million.