Interest rate on EPF to be increased to 13%: Siyambalapitiya

Yatiyantota, April 28 (Daily Mirror)- Steps would be taken to increase the interest rate of the Employee’s Provident Fund (EPF) from the existing 9 percent to 13 percent with effect from 2023, State Minister of Finance Ranjith Siyambalapitiya said.

He told reporters in Yatiyantota that the EPF is the largest fund in the country with 2.7 million members.

The interest paid to the EPF was reduced from 13 percent to 9 percent under the domestic debt restructuring process.