Retirement fund body EPFO has not taken up the proposal to hike the investment limit in equities to 20 per cent from the existing 15 per cent, following demand for more deliberation from employees’ representatives in its trustees’ meet earlier this week.
“The proposal to enhance investment in equity or equity-related instruments was not taken up in the Central Board of Trustees 231st meeting on July 29 and 30,” EPFO trustee Harbhajan Singh Sidhu told PTI.
He believed that there should be more detailed deliberation on the proposal before going ahead to amend the EPFO’s pattern of investment to increase the allocation of investible funds in equity-related instruments to 20 per cent from the existing 15 per cent given the volatile nature of the stock markets.
The revised agenda of the 231st CBT meeting did not have the proposal to hike investment in equity.
Digital life certificate
EPFO on Saturday introduced a facility to allow its over 73 lakh pensioners to submit digital life certificate using face authentication technology from anywhere.
This face recognition authentication will aid aged pensioners who face difficulties in getting their bio-metrics captured due to old age for filing the life certificate.
Union minister of labour and employment Bhupender Yadav, who also chairs EPFO’s Central Board of Trustees, launched the face authentication technology for pensioners, a labour ministry statement said.
