EPFO seeks surety on equity plan

Oct 25, 2010 |

Correspondent

Terming equity investments “unsafe”, the EPFO has asked for a government guarantee if the retirement fund manager is mandated to comply with the finance ministry demand for investing up to 15 per cent of its funds in stocks. “Our Board of Trustees felt investments in the capital market are unsafe and do not serve well,” Central Provident Fund Commissioner, Mr Samirendra Chatterjee, said. Citing revised
regulations, the ministry
of finance has been asserting that it has the right to prescribe investment patterns for retirement funds and has been asking for 15 per cent of the EPFO
corpus to be invested in equities.

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