Private Pension

Hundreds of Employees Trust Fund (ETF) members come to its offices at Narahenpita to collect their dues. And the queue is always long. They are however easy customers to please.rn

rnUnlike bank customers, they can
quote t shift their money even if they are unhappy about the returns or level of service. rn

rnAnd in fact, the two pension funds have found it tough to beat savings deposit interest rates over the last few years. rn

rnHowever the State-managed EPF and ETF have a long-term outlook and most of their funds are invested in government securities. rn

rnThe larger EPF has more than 98 percent of its investments in government-backed paper. While the private sector friendly ETF also has over two thirds of its portfolio in gilt.rn

rnCritics say that successive government used the two state pension funds to go on a borrowing binge.rn

rnldblquote Basically these funds are not managed as funds as that could be viably run. Rather they are made to perform as easy financial avenues for the state,