Retirement Fund Body EPFO Cuts Interest Rates To Lowest In Over 40 Years: 10 Points

The reduction marks the lowest interest rate since 1977-78 when the figure stood at 8 per cent. EPFO is the top decision making body Central Board of Trustees (CBT). The Finance Ministry will now vet the interest rate recommended by the CBT and issue notification. The decision will impact around five crore PF subscribers. The rate was kept unchanged in 2020-21. In 2019-20, EPFO had cut the rate on PF deposits to a seven-year low...