Sri Lanka set to increase EPF interest rates to 13%

EPF - Employees' Provident Fund Sri Lanka

The Sri Lankan government plans to increase the interest rate of the Employee’s Provident Fund (EPF) from the existing 9 percent to 13 percent, effective from 2013.

Accordingly, the payment of a 13% interest rate for the EPF will be ensured for the year 2023 due to the good investment performance of the fund, as stated by Sri Lanka’s Minister of Finance, Ranjith Siyambalapitiya.

The Minister made these comments in response to a question raised by a journalist while attending a meeting held in the Yatiyantota area of the Kegalle district on Sunday (April 29).

He further stated that the EPF is the largest fund in the country with 2.7 million members.