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Sunday, Nov 10, 2002
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EPF rates to stay

For investors who are witnessing declining interest rates across most investment options, their provident fund investments may earn 9.5 per cent in 2002-03 as they did in 2001-02.

Despite the Finance Ministry's preference to cut this to 9 per cent, the Government (the Labour Minister) has stated that the rate would be maintained at 9.5 per cent. It has also added that such a rate can be paid out next year too (though this is only an indication). The Government is also examining ways to optimise earnings on the monies contributed by PF subscribers.

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