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EPF, ETF will be merged, so its easy to manage: Ravi
Nov 25, 201510:32 AM
The Government decided to merge the Employees Provident Fund (EPF) and the Employees’ Trust Fund (ETF) so it is easy to manage them in the future, Finance Minister Ravi Karunanayake says.
The observation was made at the Derana 360 programme held last evening.
He also denied allegations that the funds will be misused by the government.
Earlier, the government clarifying its stance on the new move announced that the EPF and ETF will not be privatized as well. “For the new national pension scheme, a Board of Directors will be appointed through the Constitutional Council,” Deputy Minister Ajith P. Perera pointed out. He also added the fund will be monitored by the Public Wealth Trust.
