The Employees' Provident Fund Organisation (EPFO) board in today's meeting is likely to decide on interest rates on deposits and may hike the minimum pension for subscribers.
It will be the most important decision for EPFO to decide on the interest rate which will be provided to its 6 crore subscribers. As per the sources, there is a very strong possibility that EPFO might retain its interest rate of 8.55 percent for FY19.
EPFO board might also consider hiking the minimum pension paid to its 4 crore subscribers. The hike could go up to Rs 2,000 per month from the current Rs 1,000 per month. However, as suggested by a few members, EPFO could also hike it to Rs 3,000 per month. This decision by the board would lead to an increase in outflow from EPFO to about Rs 2,000 crore from the current Rs 1,000 crore.
Also, the board's agenda would be an assessment of the financial performance of equity fund managers of EPFO. Lastly, the trustee would also review the performance of investments made by the body in stock markets.