Pension funds Current Affairs, GK & News

Voluntary Provident Fund

Voluntary Provident Fund (VPF) refers to the voluntary contribution that an employee makes towards his Provident Fund Account over and above the mandatory 12% of his basic salary. VPF is fixed at a proportion of the salary and its percentage cannot be reduced or increased midyear. VPF is available only to salaried employees and is ..

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PFRDA eases registration norms for Fund Managers of NPS

With an objective to give impetus to the National Pension System (NPS), the Pension Fund Regulatory and Development Authority (PFRDA) eased norms for registration of pension fund managers. This move will induce greater competition by removing cap on the number of Pension Fund Managers (PFMs). It has notified a revised set of guidelines for registration ..

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Government hikes interest rate on SDS, SPF, GPF to 8.8% for 2012-13

Interest rates have been increased on the following Schemes for the year 2012-13 to 8.8% from 8.6% currently: Special Deposit Scheme (SDS) State Provident Fund (SPF) General Provident Fund (GPF) New rate will be applicable from April, 1, 2012. Rate of interest on GPF is generally fixed after taking into consideration the average secondary market ..

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EPF interest rate hiked to 8.6%

Interest rate on Employees’ Provident Fund will be increased from 8.25% to 8.6% in the current fiscal. The Employees’ Provident Fund Organisation (EPFO) had brought down the rate of interest to 8.25% for 2011-12 from 9.5% provided in 2010-11. The retirement fund body EPFO has parked in excess of Rs 55,000 Crore in the Special ..

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