Question : INTERNATIONAL CONSULTING FIRM TO ADVICE P.F. REFORM



(a) whether the Government realises that in an economic environment where interest rates are falling and the Employees Provident Fund (EPF) cannot depend upon guaranteed Government securities to produce the required yield there is no scope for adequate returns;

(b) if so, whether there is any proposal under the consideration of the Government to appoint an international consulting firms to advice on provident fund reforms; and

(c) if so, the details thereof?

Answer given by the minister

MINISTER OF LABOUR AND EMPLOYMENT (SHRI K. CHANDRASEKHAR RAO)

(a) to (c): Central Board of Trustees, Employees Provident Fund had invited open bids through advertisements in the leading news papers, for one time study on various aspects relating to investment management of EPFO funds. Final decision was taken by CBT, EPF after conducting objective comparative analysis of various contenders, to engage M/s. Mercer Human Resources Consulting for the job.