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Monday, March 19, 2012

Pension Fund for Investment

The funds of the Employees’ Provident Fund Organisation are invested as per the Pattern of Investment notified by the Ministry of Labour and Employment, Government of India, vide S.O. 2126 dated 09.07.2003.
The Foreign Direct Investment is outside the purview of the said Investment Pattern. Though investment in Bonds of National Highway Authority of India (NHAI) is covered under the notified Investment Pattern, the Employees’ Provident Fund Organisation has not made any investment in Bonds of NHAI till date.
The funds of the Employees’ Provident Fund Organisation are invested according to the Pattern of Investment prescribed by the Government of India. The pattern allows investments in specified categories of securities only so as to minimise risks. The investments of the Employees Provident Fund are also periodically reviewed by the Finance & Investment Committee of the Central Board of Trustees, Employees’ Provident Fund.
This information was given by Minister of Labour and Employment Shri Mallikarjun Kharge in reply in reply to a written question the Government has decided to use the employees pension fund on foreign direct investment and National Highway projects; if so, whether the consent of the representatives of employees/labourers has been taken in this regard; the details thereof and the benefits likely to accrue to the pensioners there from and whether the Government has set up any regulatory to safeguard the employees funds or the pensioners in the events of loss in the investments.
Source : PIB Release, March 19, 2012

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