The Centre is considering changes to make Employees’ Provident Fund (EPF) withdrawals more flexible, potentially allowing members easier access to their savings for housing, marriage, and education needs, according to a report by Moneycontrol.

Two senior government officials told the publication that the Employees’ Provident Fund Organisation (EPFO) could soon relax existing withdrawal limits, with the changes expected within a year. “We don’t want to put restrictions for the members, it’s their money…they should have the freedom to manage their fund according their needs,” one of the officials said on condition of anonymity.

Currently, EPFO subscribers can withdraw the full amount only upon retirement at age 58 or if they remain unemployed for more than two months. Partial withdrawals are allowed under specific conditions: After seven years of service, up to 50 percent of an employee’s contribution and interest can be used for marriage expenses (for self, children or siblings).

For housing, up to 90 percent of the accumulated corpus can be withdrawn, provided the member has completed at least three years of service. The property must be in the name of the member, spouse, or jointly owned. For education (post-matriculation) of children, employees with at least seven years of service can withdraw up to 50 percent of their contribution plus interest.