Isn't the EPF the largest pyramid scheme in Sri Lanka?

aj

aj

Assistant Vice President - Equity Analytics

Posts : 766
Equity Stars : 5635
Reputation : 45
Join date : 2011-11-25

Because,
1. EPF money is not used for the best interests of the investors but the money is used by outside parties for their own objectives.
2. New money is always coming in to pay the few outgoing investors so there's a constant flow of money coming in even though the money in use could be making something like 4% even.

manula

manula

Vice President - Equity Analytics

Posts : 1171
Equity Stars : 6221
Reputation : 55
Join date : 2011-04-18
Location : Qatar

truly...agreed.. good comment .. only the outside parties making the deal are winners

greedy

greedy

Manager - Equity Analytics

Posts : 280
Equity Stars : 5197
Reputation : 28
Join date : 2011-07-21

I think EPF should be managed/monitored by a high level governing body representing Government, Representatives from Employees, and some intelligent people having extensive knowledge in fund management. And also employees should be given an opportunity select in which instruments they want to invest.

illuminati

illuminati

Senior Manager - Equity Analytics

Posts : 336
Equity Stars : 5132
Reputation : 12
Join date : 2011-12-05

Absolute crime commited against employees. All the decision makers should be prosecuted for criminal breach of trust.

econ

econ

Global Moderator

Posts : 1479
Equity Stars : 8621
Reputation : 94
Join date : 2011-01-27

yes under the Kabral regime, EPF is become number one scam..

WildBear

WildBear

Assistant Vice President - Equity Analytics

Posts : 723
Equity Stars : 5749
Reputation : 65
Join date : 2011-07-02

illuminati wrote:Absolute crime commited against employees. All the decision makers should be prosecuted for criminal breach of trust.

There is no room for prosecution as CBSL has set rules to allow certain percentage(Around 5 % ) to be invested in Stock market. current fund managers can argue that they take decisions according to their Knowledge and Competence. The prudent way is as greedy suggested to make a governing body to the EPF fund with wider interest including representatives from Employees and independent fund managers in addition to Central Bank.Unfortunately the employees who contribute their hard earned money has only a faint and weak voice in this regard.

RIO

RIO

Senior Manager - Equity Analytics

Posts : 452
Equity Stars : 5564
Reputation : 84
Join date : 2011-06-01

The ghost of Qi [Quest International] is re emerging in a legalized form & the gang who were behind the Qi is on the Top seats of SL Monetary system.... Evil or Very Mad

wonder of Asia....!

aj

aj

Assistant Vice President - Equity Analytics

Posts : 766
Equity Stars : 5635
Reputation : 45
Join date : 2011-11-25

RIO wrote:The ghost of Qi [Quest International] is re emerging in a legalized form & the gang who were behind the Qi is on the Top seats of SL Monetary system.... wonder of Asia....!

I guess you mean this.

Our story said the investigation was halted soon after Nivard Cabraal was appointed Central Bank governor. Cabraal’s name had figured in some dealings relating to GoldQuest.
source http://sundaytimes.lk/070513/FinancialTimes/ft306.html

Truly wonder of africa

This one is very interesting.
http://www.lankabusinessonline.com/fullstory.php?nid=2066258034

Sponsored content

Name*:
Phone number:
Email address*:
Comments*:
* - required fields	Learn

Name*:
Phone number:
Email address*:
Comments*:
* - required fields	Learn

Latest topics

Isn't the EPF the largest pyramid scheme in Sri Lanka?

1 Isn't the EPF the largest pyramid scheme in Sri Lanka? Tue Apr 03, 2012 9:33 am

aj

2 Re: Isn't the EPF the largest pyramid scheme in Sri Lanka? Tue Apr 03, 2012 10:05 am

manula

3 Re: Isn't the EPF the largest pyramid scheme in Sri Lanka? Tue Apr 03, 2012 12:30 pm

greedy

4 Re: Isn't the EPF the largest pyramid scheme in Sri Lanka? Tue Apr 03, 2012 8:21 pm

illuminati

5 Re: Isn't the EPF the largest pyramid scheme in Sri Lanka? Tue Apr 03, 2012 8:37 pm

econ

6 Re: Isn't the EPF the largest pyramid scheme in Sri Lanka? Tue Apr 03, 2012 8:38 pm

WildBear

7 Re: Isn't the EPF the largest pyramid scheme in Sri Lanka? Wed Apr 04, 2012 3:14 pm

RIO

8 Re: Isn't the EPF the largest pyramid scheme in Sri Lanka? Wed Apr 04, 2012 3:24 pm

aj

9 Re: Isn't the EPF the largest pyramid scheme in Sri Lanka?

Sponsored content

New topics