The Government has recognized the requirement of ensuring the payments and benefits of the Employees’ Provident Fund without any burden to the pension payments and benefits of the members of that fund due to the local treasury bonds idealizing programme.

Therefore, considering the annual interest benefit percentages paid for the members of the Employees Provident Fund during the past five years period, the Cabinet of Ministers has approved the resolution submitted by the President in his capacity as the Minister of Finance, Economic Stabilization and National Policies for taking necessary measures to amend the Employees’ Provident Fund Act No. 15 of 1958 ordering that the minimum annual interest rate on the contribution within the next four (04) years from 2023 -2026 should at least be 9%.