The Employee Provident Fund Organisation (EPFO) has proposed to hike the interest rate to 8.65% for FY 2018-19, as against 8.55% in the previous year, benefitting over six crore Employees’ Provident Fund (EPF) subscribers from this move. The proposal will now be approved by the finance ministry. The EFPO decides the rate based on the surplus it generates through its investments.

For salaried employees, especially those in the private sector, EPF is an avenue for retirement savings, since it is mandatory. The other option is the National Pension System (NPS) which is voluntary. Employees contribute 10-12% of their salary towards EPF.

The EPFO invests its corpus largely in government securities, which are sovereign in nature. But a part of the corpus is also invested in equities through Exchange Traded Funds.  

The advantage of…

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