As of March 31, 2026, the EPFO and LIC collectively hold over ₹16,600 crore in unclaimed or inoperative funds. The government has launched outreach programs to help rightful beneficiaries recover these deposits. Investors and policyholders can utilize online search portals and official contact channels to check for any dormant accounts or policies.
Detailed Coverage
The Ministry of Finance has disclosed that the Employees' Provident Fund Organisation (EPFO) and the Life Insurance Corporation of India (LIC) are holding a combined total of more than ₹16,600 crore in unclaimed or inoperative funds. Data as of March 31, 2026, indicates that the EPFO alone accounts for ₹9,330.56 crore in inoperative accounts, while LIC reports ₹7,318.50 crore in unclaimed policyholder funds and accrued interest.
Government Outreach and Recovery Measures
Minister of State for Finance, Pankaj Chaudhary, confirmed in the Lok Sabha on July 20, 2026, that the government is focusing on awareness campaigns to reconnect these funds with their rightful owners. For LIC policyholders, the corporation has implemented several tracking mechanisms, including a dedicated search portal on its official website. LIC is also using SMS alerts, direct communication from branch offices, and outreach through its network of agents and Bima Sakhis to identify and contact policyholders.
Regulatory Requirements and Fund Management
For the insurance sector, the Insurance Regulatory and Development Authority of India (IRDAI) mandates specific handling of long-term unclaimed money. According to the IRDAI Master Circular issued on June 19, 2024, funds that remain unclaimed for more than ten years must be transferred to the Senior Citizen Welfare Fund (SCWF). LIC is required to conduct this transfer annually before March 1. Regarding the EPFO, the Ministry of Labour and Employment has stated that there are no plans to divert inoperative account funds for other purposes, ensuring that these remain dedicated to the account holders.
Investor and Policyholder Action
Individuals or their legal heirs who suspect they have forgotten deposits or policies should verify their status through official channels. For EPF accounts, users can access the EPFO member portal to check account status. For LIC policies, the official website provides a search facility to identify unclaimed amounts. Given the regulatory focus on reclaiming these funds, proactive verification is the most effective way for beneficiaries to ensure their money is not transferred to the Senior Citizen Welfare Fund or remains indefinitely inoperative. The government's continued focus on digital transparency and outreach suggests that further simplified processes for fund retrieval may be introduced in the future.