Date:5-3-2021
Sub: Press release by CBT on 4-3-2021 on Financial performance for FY 2020-21
Dear all pensioners friends and office bearers of various REWA
I request & suggest all to go through press release, study & analyse EPFO's Financial performance
Following are my views & observations
1) Sound & Healthy Finacial position. Since 2014, EPFO has Consistently generated returns not less than 8.50 percent
2) Followed a conservative approach towards towards in investment
3) Since EPFO invests poor man's retirement savings, emphasis is on safety and preservation of principal first approach.
4) Risk Appetite is very low
5) EPFO over the years has been able to distribute higher income to it's members
6) EPFO prudently started investing in equity through ETF both in NSE & BSE
7) Prudent investment strategy & policy enabled EPFO to provide higher return to subscribers & allowing EPFO healthy surplus to act as cushion for providing higher returns in future also. There is no over-drawal on EPFO corpus due to this income distribution
The assured fixed return approach of EPFO,announced by CBT every year along with tax exemptions makes it an attractive choice for investors, providing them with strong social security in the form of provident fund,pension & insurance schemes
Above information shared along with year wise financial data provided,shared by Shri Praveen Kohli to be used for countrring claims by EPFO such as
A) pension fund faces net acturial deficit of Rs 15,28,519.47 crores
B) Caused or will cause a drastic run on the pension fund
In short press release highlights financial performance since 2014 & splells out sound,prudent investment strategy followed over past few years
This aspect can be suitably incorporated in CA to filed in SC
This may be shared, discussed with UR AOR in SC for urgent ACTION
Sudhindra( Sudhir) Nanjangud
Ex- ONGC Mumbai
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