UAN - Universal Account Number.

UAN - Universal Account Number.

The Employees Provident Fund Organisation (EPFO) has introduced the Universal Account Number (UAN) for members. The number allows portability of PF accounts from one employer to another without depending on any employer for withdrawal of EPF balance. The number allows a member to view all his or her EPF accounts with current and former employers. With the number, a member can initiate the process of closing old accounts and transferring balances. The number, which has to be allotted by an employer, needs to be activated.

The Service of Pension Portability Account Number or UAN should be extended to cover all types of pension schemes.  It should be extended to cover or include across border benefits to include or port benefits across international borders as well. 

The UAN or the universal account number is nothing but to link your Pension contributions with one Single Account Number enabling for portability of pension benefits across employers in your career and to link multiple pension schemes that an individual might open, employer provided, super annuation, ppf, NPS, pension mutual funds, pension insurance schemes and so on. 

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.epfindia.gov.in/site_docs/PDFs/UAN_PDFs/UAN_ForEmployers/FAQ-Employer-July2015.pdf&ved=2ahUKEwiQkIvCs87qAhUHwzgGHc3ODJsQFjAbegQIAhAH&usg=AOvVaw3HJTx7ebRF94M4MNnnYhZe

https://m.economictimes.com/investments-markets/5-steps-to-activate-universal-account-number/slideshow/47847883.cms#:~:text=The%20Employees%20Provident%20Fund%20Organisation,for%20withdrawal%20of%20EPF%20balance.

In my view it would be appropriate to name it as Pension Account Number or as Pension Portability Account Number (PPAN)  or Pension Schemes or Benefits and Portability Account Number (PSPAN or PBPAN) than as Universal account number to convey the correct meaning and for ease of understanding.

This would mean PAN should be renamed as well instead of calling it as Permanent Account Number rather call it as Tax Submission Number (TSN) or Tax Identity Number (TIN).   Similarly,  the TAN could or should be renamed as Tax Deductors Account Number(TDAN).