Govt to rope in more fund managers for EPFO corpus
The government on Saturday said it is planning to appoint more fund managers for the efficient management of the Employees Provident Fund Organisation corpus.
By PTI |
NEW DELHI: The government on Saturday said it is planning to appoint more fund managers for the efficient management of the Employees Provident Fund Organisation corpus.
"We are looking forward for the appointment of more fund managers. We hope to get more fund managers in the next fiscal," Labour and Employment Secretary, Sudha Pillai said at a seminar organised by Assocham.
There would soon be multiple fund managers to manage the fund of EPFO, which has over 4 crore subscriber, she said.
Currently, the country's largest public sector lender State Bank of India is the sole fund manager.
In line with managers for new pension scheme for government employees, EPFO would also have multiple fund managers for the efficient management of the corpus.
When asked about whether the corpus of the EPFO can be invested in the stock market, Pillai said, no consensus has been arrived at on the issue.
On providing health insurance to unorganised sector worker, she said, the government intends to provide health cover to 1.6 crore workers in the next fiscal.
Workers would be given smart card by various fund managers in public and private sectors, for which the policy holder would have to pay Rs 30 for each smart card for the cover, she said.
"We are looking forward for the appointment of more fund managers. We hope to get more fund managers in the next fiscal," Labour and Employment Secretary, Sudha Pillai said at a seminar organised by Assocham.
There would soon be multiple fund managers to manage the fund of EPFO, which has over 4 crore subscriber, she said.
Currently, the country's largest public sector lender State Bank of India is the sole fund manager.
In line with managers for new pension scheme for government employees, EPFO would also have multiple fund managers for the efficient management of the corpus.
When asked about whether the corpus of the EPFO can be invested in the stock market, Pillai said, no consensus has been arrived at on the issue.
On providing health insurance to unorganised sector worker, she said, the government intends to provide health cover to 1.6 crore workers in the next fiscal.
Workers would be given smart card by various fund managers in public and private sectors, for which the policy holder would have to pay Rs 30 for each smart card for the cover, she said.
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