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EPFO may park 5% annual deposits in infra investment trusts, alternative funds

Only government-backed alternative funds will be considered for investment. The board also decided to set up four sub-committees including two on employees pension scheme and social security provisions.

November 21, 2021 / 07:10 AM IST
Representative image

Representative image

The central board of the Employees’ Provident Fund Organisation (EPFO) on November 20 approved investing up to 5 percent of the annual deposits in alternative investment funds (AIFs) including infrastructure investment trusts (InvITs).

The central board also approved setting up four subcommittees on employee pension, social security and augmentation of digital capacity to make EPFO a better user-friendly organisation.

"The board today gave it a go-ahead. We shall only focus on government-backed alternatives, which are category one funds like public sector InvITs," said Sunil Barthwal, secretary, labour and employment.

Barthwal said the finance and audit committee of the EPFO has been entrusted with the task to take up these funds on a “case-to-case basis”.