Economy · 22 Jul 2026

EPFO 3.0 gig workers

Consider the following statements regarding EPFO 3.0:

  1. It introduces a Target Retirement Sum model offering annuity or systematic withdrawal options at retirement.
  2. Under the Code on Social Security, 2020, aggregators must contribute 1-2% of their annual turnover towards gig workers' social security, capped at 5% of the amount payable to workers.
  3. Its "one-to-many" UAN mapping allows a single worker's Universal Account Number to receive contributions from multiple aggregators simultaneously.
  4. The reform is expected to bring around
  5. 5 crore gig and construction workers into coverage within five years.

How many of the above statements are correct?

AOnly one
BOnly two
COnly three
DAll four

Tests retention of multiple precise numerical and mechanical details of a new scheme together, rather than a single isolated fact - requiring the aspirant to evaluate several statements as a coherent set.

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This question is based on: EPFO 3.0: Why Pension Cover for Gig Workers Exposes a Deeper Classification Problem
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About this question

Why in news

EPFO unveiled EPFO 3.0, extending formal pension coverage to gig and platform workers for the first time through a Core Banking Solution-based technology platform.

Why for UPSC

UPSC often tests newly announced welfare scheme mechanics in detail - the exact contribution formula and coverage targets are precisely the kind of granular data points that separate a well-read aspirant from a headline-only reader.

Prelims summary

EPFO 3.0 introduces a Target Retirement Sum model, one-to-many UAN mapping for gig workers and mandates aggregator contributions of 1-2% of turnover (capped at 5% of worker payout), targeting 2.5 crore workers over five years.

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