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EPFO to invest in equity and related instruments

The Central Board of Trustees of the EPF, at a meeting on March 31, deliberated the new pattern of investment notified by Finance Ministry and recommended it for the EPFO, Labour and Employment Minister Bandaru Dattatreya said during Question Hour in Rajya Sabha.

The scheme was launched with effect from September 2014, hiking the pension amount to a flat Rs 1,000 per month for those who were getting lower amount earlier.
The body has a corpus of over Rs 6.5 lakh crore and it is expected to get an incremental deposit of Rs 80,000 crore during this fiscal.
The National Pension System, launched on January 1, 2004, aims to overcome moderate contributions towards retirement planning by offering higher returns and tax benefits.
Studies have shown that as many as 70% people who get a windfall lose it within a few years. It is, therefore, important to create a regular income stream.
Under this service, a member will send an SMS in predefined format from her mobile number registered with the EPFO at the time UAN activation.