Question : Investment Bankers and Economists in EPFO

(a)whether his Ministry is considering to establish an in-house team of competent investment bankers and economists in the EPFO, which can make strategic investment plans to improve the utilization of pension funds;
(b)whether the Ministry is considering to empower the EPFO with independent statutory powers to enable the organization to develop its own asset allocation policy with minimal interference from the Government;
(c)if so, the details thereof; and
(d)if not, the reasons therefor?

MINISTER OF STATE (IC) FOR LABOUR AND EMPLOYMENT
(SHRI SANTOSH KUMAR GANGWAR)

(a) to (d): The funds of Employees’ Provident Fund Organisation (EPFO) are being invested by professional Portfolio Managers appointed by Central Board of Trustees (CBT), Employees’ Provident Fund (EPF), as per the Pattern of Investment notified by the Central Government. There is no interference of the Government in asset allocation of EPFO for investment of funds.

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