Poser
on premium interest rates for TB investing EPF members
The
proposal by the Government to offer EPF and other provident
fund beneficiaries premium interest rates if they are
investing in Treasury Bills whilst welcomed has drawn
lot of questions with financial circles.
The Minister of Labour announced that in collaboration
with the Central Bank of Sri Lanka, a novel scheme has
been introduced which allows Provident Fund Beneficiaries
(including private sector employees) to invest in Government
Treasury Bills at a 10% premium over the current market
rates and receive interest monthly/quarterly or annually.
It was also reported that investors in the scheme would
at a future date have the option of converting to a
pension scheme.Former Ceylon Chamber of Commerce Chairman
and Managing Director of Eagle Insurance though welcoming
the move has raised several questions. He has urged
the Government to announce clear details in order that
public become aware of the proposed scheme.
