EPFO cuts interest rate to 8.55 pct for 2017-18

ANI | Updated: Feb 21, 2018 21:30 IST

New Delhi [India], Feb 21 (ANI): Retirement fund body, Employees' Provident Fund Organisation (EPFO) on Wednesday declared a cut in its interest rate to 8.55 percent for 2017-18 from 8.65 percent for 2016-17.

This was decided during the meeting of Central Board of Trustees of EPFO in Delhi today.

For 2016-17 the rate was 8.65 percent and in 2015-16 the rate was 8.8 percent.

In order to maintain the interest this fiscal, the organisation had sold a portion of its investment in the Exchange Traded Funds, ETF.

The body has approximately five crore members. (ANI)