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EPFO gets govt nod to invest 5% corpus in stock markets

"We will invest 5 per cent of the investible funds of EPFO into the ETF. The new investment pattern has been notified about two-three days ago," Labour Secretary Shankar Aggarwal said.

 
 
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.
Wide-ranging changes are in the offing in the National Pension System, says Pension Fund Regulatory and Development Authority (PFRDA) Chairman Hemant G Contractor.
 
 
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.
"We may take the step within a couple of months," a senior EPFO official said on the condition of anonymity.
Account holders can now apply for withdrawal online from 1 April.
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