22 Dec, 2014 9:40p.m.

EPFO set for major overhaul, flexible investments proposed

The Employees’ Provident Fund Organisation (EPFO) is set for a major overhaul in the way it manages the provident fund deposits of its over five crore subscribers.

While it went through an image makeover and took many steps to improve the quality of services it offers during circa 2014, the EPFO has lined up a number of initiatives for implementation during 2015.

EPFO could not do much about expanding its investment options to maximise the returns for providing higher interest rate to its subscribers during 2014, and fresh attempts can be made in the new year in this regard.

The proposal to invest in the equity was shelved in its trustees meet held in August as well as in December. The trustees are still not in favour of the proposal to invest in equities and Exchange Traded Funds (ETFs).

However, the trustees have recommended making the investment pattern more flexible to further increase the percentage of investment in government securities.

Read more @ http://www.financialexpress.com/article/personal-finance/epfo-set-for-major-overhaul-in-new-year/21915/

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