Cabinet spokesperson Minister Bandura Gunawardene said today that the employee provident fund law will be amended to ensure at least 9% annual interest for EPF members.
At the weekly cabinet press conference, Minister Gunawardene said the amendment would apply an interest rate of at least 9% per annum for the next four years from 2023.
issued a cabinet decision in this regard, stating that the Government must ensure the benefits and benefits of the Employee Provident Fund (EPF) without burdening the pension payments and benefits of employees’ pension fund members; said to be aware of Municipal Bond Idealization Program.
Therefore, taking into account the annual interest rate paid to members of the EPF in the last five years, the Cabinet of Ministers submitted to take the necessary steps to amend the Employee Provident Fund Act No. 15 of 1958. Approved the proposed proposal.
A proposal submitted by the President in his capacity as Minister of Finance proposes a minimum annual interest rate of at least 9% on contributions over the next four years from 2023 to 2026. (newswire)
