To keep EPFO viable, officials give House panel radical idea

Sources said officials told the panel that EPFO had over 23 lakh pensioners drawing Rs 1,000 per month even when their contributions to the fund corpus had been less than a fourth of the benefits they were drawing. They also said this would be unviable for the government to support in the long run, unless a system of “defined contributions” was put in place.

from Personal Finance News-Wealth-Economic Times https://ift.tt/3npFyY7