Source | The Financial Express : By Navneet Dubey
Right from making investments in ETFs to introducing a single page and composite PF claim form for pensioners and helping people to buy their dream homes, retirement fund body EPFO has taken many steps recently. In fact, EPFO does not only want to increase its funds/wealth under management by increasing investments in the equity market, but it is also trying to encourage the use Aadhaar and PAN card among the citizens.
Here are the 7 recent changes and proposals made by EPFO:
EPFO plans to invest in equity market
The Employees Provident Fund Organisation plans to invest up to 15 percent of their investable amount in the equity markets during the next fiscal. EPFO also wants to increase its investment from 5 per cent to 15 per cent of the investable income of the organization every year.
EPF investment in ETFs
Till the last month, that is February 2017, EPFO has invested in ETFs in the following categories:
(i) The total amount of Rs 17105 crore in Nifty and Sensex Index based ETF’s.
(ii) The total amount of Rs 1504 crore in CPSE Index based ETF.