How much unclaimed money is lying with LIC and EPFO? Centre reveals latest figures
3 min readJul 20, 2026 05:03 PM IST
Unclaimed money with LIC and EPFO has reached significant levels, according to the latest figures shared by the Centre. (Image generated using AI)
LIC, EPFO unclaimed money: The Central government has released the latest data on unclaimed money lying with the Life Insurance Corporation of India (LIC) and the Employees’ Provident Fund Organisation (EPFO). LIC was established on September 1, 1956, after the Life Insurance Corporation Act was passed on June 19, 1956, while EPFO was set up in 1952.
LIC was created to make life insurance accessible to people across the country, especially in rural areas, by providing financial protection at an affordable cost. EPFO, meanwhile, was established to manage provident fund, pension and insurance schemes for workers employed in the organised sector.
During the ongoing Monsoon Session of Parliament, Lok Sabha MP Dr MK Vishnu Prasad asked the government to provide details of the total amount of unclaimed money and deposits lying with the LIC and the EPFO. He also sought information on the steps taken by LIC and EPFO to identify and return such unclaimed funds to account holders, nominees or legal heirs.
The MP further asked whether the government has any proposal to utilise these unclaimed funds after they remain unclaimed for a specified period of time.
Responding to the query, Union Minister of State (MoS) for Finance Pankaj Chaudhary said that, under the Insurance Regulatory and Development Authority of India (IRDAI) Master Circular on Operations and Allied Matters of Insurers dated June 19, 2024, any amount that remains unclaimed for more than 10 years must be transferred to the Senior Citizens’ Welfare Fund (SCWF), which is managed by the Ministry of Social Justice and Empowerment.
“Every year, LIC is transferring the eligible amount on or before 1st March. As informed by Ministry of Labour and Employment, at present there is no proposal for utilisation of these funds for any other purposes,” Chaudhary said.
LIC unclaimed amount: Steps taken to identify and return money to policyholders
According to the minister’s written reply in Lok Sabha on July 20, the total amount of unclaimed money with LIC stood at Rs 7,318.50 crore as of March 31, 2026. This includes Rs 5,564.55 crore belonging to policyholders and Rs 1,753.95 crore as income accrued on these unclaimed amounts.
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Unclaimed Money with LIC: ₹7,318.50 Crore as of March 31, 2026
₹7,318.50 Cr
Total unclaimed amount with LIC (as at 31st March 2026)
Break-up of Unclaimed Amount
Unclaimed amount of Policyholders₹5,564.55 Cr
Income accrued on unclaimed amount₹1,753.95 Cr
Total₹7,318.50 Cr
How LIC is Tracing & Returning Unclaimed Money
1
Policyholders can search unclaimed amounts on LIC's website (licindia.in) using DOB and name/PAN.
2
Branches/Divisional Offices send letters and SMS reminders to registered mobile numbers.
3
For amounts outstanding over 10 years, offices follow up for claim requirements and NEFT details.
4
Pin-code wise addresses shared with LIC agents for local follow-up, including visits to neighbours, contacts and shops.
5
Agents/Development Officers and Bima Sakhi trace policyholders using their local network.
6
A Credit Bureau Agency has been engaged to trace addresses and mobile numbers of policyholders/beneficiaries.
7
Participated in Ministry of Finance's "Your Money-Your Right" campaign (Oct-Dec 2025); 2,048 LIC branches took part in district-level camps.
8
Pan-India awareness ads published in English, Hindi and 13 regional languages.
Source: Lok Sabha
EPFO unclaimed amount: Steps taken to identify and return money
On the EPFO unclaimed amount, the Union Minister said that, according to the Ministry of Labour and Employment, there are no unclaimed EPFO accounts. However, some accounts are classified as inoperative accounts.
“The total amount lying in the inoperative EPF accounts, under para 72(6) of EPF Scheme, 1952 (now replaced by para 55 of EPF Scheme, 2026), as on 31.03.2026 is ₹ 9330.56 crores,” he added.
EPFO's 4-Point Action Plan for Inoperative Accounts
₹1,000
Auto-settlement threshold for unclaimed balances in Aadhaar-verified inoperative accounts (pilot)
Actions Taken by EPFO
1
Identification & Categorization
Inoperative EPF accounts identified and categorized based on availability and status of KYC details.
2
Pilot for Auto-Settlement
Central Board of Trustees approved a pilot for auto-initiation of claim settlement in Aadhaar-verified inoperative accounts with unclaimed balances of ₹1,000 or less.
3
Direct Credit, No Fresh Claims
Amounts credited directly to Aadhaar-seeded bank accounts without fresh claims or documentation. Likely to be replicated for other balance slabs after due diligence.
4
Outreach & Awareness
Social media campaigns and Nidhi Aapke Nikat (NAN) 2.0 camps to inform employers and employees about EPF services and unclaimed deposits.
Pilot project underway; may be extended to higher unclaimed-balance slabs after due diligence.
Source: Lok Sabha
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Anish Mondal is a journalist with over nine years of experience covering the railways and roadways. Currently a member of the Indianexpress.com editorial team, Anish specializes in high-impact sectors. Professional Journey Anish began his career at the public broadcaster Rajya Sabha Television (now Sansad TV), where he developed a foundational understanding of legislative processes and national governance. In 2018, he transitioned to digital financial journalism at FinancialExpress.com, spending nearly six years refining his expertise in market trends and corporate reporting. Before joining The Indian Express in 2025, he served as a key contributor at ETNowNews.com. Education & Expertise Anish’s reporting is backed by a rigorous academic background in communication and the humanities: Master of Journalism and Mass Communication (MJMC) – Apeejay Stya University Post Graduate Diploma in Journalism and Production (PGTVRJP) – Apeejay Institute of Mass Communication Bachelor of Arts (English Honours) – University of Calcutta Areas of Coverage Connectivity: Detailed reporting on the expansion of Indian Railways and National Highway networks. ... Read More
Source: Indian Express
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