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EPF refund proposal by Cabraal

+10
ColomboCSE
anges
npgslnawa
ChooBoy
Kipling
Yahapalanaya
kasun_gimhana
MoneyLover
God Father
Teller
14 posters

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1EPF refund proposal by Cabraal Empty EPF refund proposal by Cabraal Sun Mar 29, 2020 2:43 pm

Teller

Teller
Moderator
Moderator

Sevaral time Nivad Cabraal tried to robe EPF money. This is his new suggestion . EPF holders be in alert .

"Sri Lanka should return about 20 percent of Employees Provident Fund balance to holders after the Coronavirus pandemic ends as the island no longer had fiscal space to boost the economy after recent tax cuts, a top official said.

Sri Lanka had already given a ‘stimulus’ in the form of a tax cut in January and a debt moratorium after the new administration came to power.

The island did have the fiscal space to give the tax refunds and grants announced by advanced nations, Senior Advisor to the Finance Minister Mahinda Rajapaksa, Nivard Cabraal said. He was also a former central bank governor.

He suggests that 20 percent of each members EPF balances be returned, which will be 500 billion out of a total of 2500 billion in assets.

“This simple and uncomplicated return of capital could be a useful and viable alternative that could achieve the same outcome of serving as an economic stimulus, without any fiscal burden being placed on the Government,” Cabraal said.

“In addition, this newly created “equity” in the hands of around 2,500,000 individuals would expand further and perhaps even double, as many recipients are likely to leverage such funds with borrowings from lending institutions, which would provide a further boost to the economy.”

“By “unlocking” this vast pool of funds at the present time, and through the release of such finances which would be circulating amongst millions of people, many other “knock-on” benefits would also accrue to the people and the economy.”

Cabraal says the benefit would be as follows:

Among such benefits would be:

(1) enhanced economic growth being recorded in the economy due to the higher investment and consumption as a result of the funds infusion.

(2) many persons being able to settle their high interest debt which is presently crippling them.

(3) new business ventures being created as a result of persons with entrepreneurial ideas and abilities being able to embark on new business ventures.

(4) more opportunities opening out for the financial sector to lend, since persons who are embarking on new economic activity are likely to leverage their new equity with debt.

(5) business confidence being enhanced and optimism rekindled due to the higher level of economic activity as a result of investment of the newly released “locked” savings, in the wider economy.

(6) an upturn being recorded in the small-scale construction activity in all parts of the country, which is now at a standstill.

(7) enhanced employment opportunities arising in the Small and Medium Enterprises sector of the country, leading to lower social tensions.

(Cool Government tax revenues improving due to the rise of the level of economic activity throughout the economy.

The funds of the EPF are now held mostly in Sri Lanka government bonds. It is not clear what the effect will be if attempts were made to liquidate bonds.

Meanwhile Sri Lanka’s soft-peg with the rupee had come under severe pressure after a large liquidity injections were made by the Central Bank were made and premiums in the swap markets have disappeared. (Colombo/Mar29/2020)

2EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Sun Mar 29, 2020 2:51 pm

Teller

Teller
Moderator
Moderator

EPF is a retirement saving . Slowly slowly if they vanished the fund , private sector employees have to go home with out having nothing. Now government has forced EPF to invest in government bonds. Thats not fair at all. Earlier Cabraal has vanished EPF by investing sevaral hanky pankys such as sri Lankan catering ,etc.. several time they tried to manipulate EPF fund . Members be on alert for your hard earning money

3EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Sun Mar 29, 2020 2:56 pm

God Father


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

This will give an opportunity for members to withdraw money before they are 55. This is a payment to members and not an investment. How can there be hanky panky. Dont be biased, this is one of the best proposals.

4EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Sun Mar 29, 2020 4:18 pm

Teller

Teller
Moderator
Moderator

Objective of this fund , especially makes a better retirement for members . Most of the members are having less than 20 lakh earnings . Just calculate 20 lkh to 20% , its just 4 lkh. Imagine what you can do from 4 lakh . People simply spends those money for consumption. This will hit the EPF return on investments too. In current world, its difficult to do the saving especially ordinary people. At least EPF saving gives an appropriate solution for the retirement . Old population is rising in asia , even sri lanka. some saved money should be At the time of your retirement.

5EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Sun Mar 29, 2020 4:32 pm

God Father


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

By paying 20% to member EPF annual interest cost will reduce. Further circulation of the money with the people will increase the economic activity of the country. With this saving government will be able to pay higher yield for the balance 80%. EPF also will be able to build the fund back to current level within 5 years.
This is a no brainer!

6EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Sun Mar 29, 2020 4:45 pm

MoneyLover

MoneyLover
Manager - Equity Analytics
Manager - Equity Analytics

God Father wrote:By paying 20% to member EPF annual interest cost will reduce. Further circulation of the money with the people will increase the economic activity of the country. With this saving government will be able to pay higher yield for the balance 80%. EPF also will be able to build the fund back to current level within 5 years.
This is a no brainer!

@God Father 
Could you please explain to us how could EPF reduces interest cost??

As we were aware, EPF payers return to members out of their earning by investing funds in fixed income securities and equities. To pay 20% to members EPF may need to sell nearly 20% of investment so income also will be lower!

7EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Sun Mar 29, 2020 5:08 pm

God Father


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Eg
EPF Fund Before Refund - Rs 1000
Refund 20% - 1000 x 20% = Rs 200
Balance Fund after refund  - Rs 800

Annual EPF yield payable to member- 10%
Annual cost to EPF before refund- Rs 1000 x 10% = Rs 100
Annual cost to EPF after refund - Rs 800 x 10% = Rs 80
Annual saving to EPF - Rs 20
Total paid to members - Rs 100
Recovery period - 100/20  = 5 years



Last edited by God Father on Sun Mar 29, 2020 5:11 pm; edited 1 time in total

8EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Sun Mar 29, 2020 5:10 pm

God Father


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

MoneyLover wrote:
God Father wrote:By paying 20% to member EPF annual interest cost will reduce. Further circulation of the money with the people will increase the economic activity of the country. With this saving government will be able to pay higher yield for the balance 80%. EPF also will be able to build the fund back to current level within 5 years.
This is a no brainer!

@God Father 
Could you please explain to us how could EPF reduces interest cost??

As we were aware, EPF payers return to members out of their earning by investing funds in fixed income securities and equities. To pay 20% to members EPF may need to sell nearly 20% of investment so income also will be lower!

Eg
EPF Fund Before Refund - Rs 1000
Refund 20% - 1000 x 20% = Rs 200
Balance Fund after refund  - Rs 800

Annual EPF yield payable to member- 10%
Annual cost to EPF before refund- Rs 1000 x 10% = Rs 100
Annual cost to EPF after refund - Rs 800 x 10% = Rs 80
Annual saving to EPF - Rs 20
Total paid to members - Rs 100
Recovery period - 100/20  = 5 years

9EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Sun Mar 29, 2020 5:55 pm

kasun_gimhana

kasun_gimhana
Manager - Equity Analytics
Manager - Equity Analytics

It is better releasing 20% EPF fund, instead  of money printing

10EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Sun Mar 29, 2020 6:06 pm

Teller

Teller
Moderator
Moderator

This is a well plan game from Cabraal. Currently they have forced to EPF to subscribe government bonds which is having a very less return. As per the current situation , there is no guarantee Employers can contribute their contribution . Even Employees side its a doubt. As EPF has been invested in more money with less liquidity, so they have to liquidate the investment , any fool can understand , this is not the time for encashing investment, this is the time for keep cash and get into investment . We knew cabraal tried sevaral time to touch the EPF but due to members protest they couldnt do so. So many politicians greedy eye sight directly to this fund as it holds trillions.Cabraal tries use this as an opportunity based on the situation.

11EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Sun Mar 29, 2020 6:18 pm

God Father


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Teller wrote:This is a well plan game from Cabraal.  Currently they have forced to EPF to subscribe government bonds which is having a very less return.  As per the current situation , there is no guarantee Employers can contribute their contribution . Even Employees side its a doubt.  As EPF has been invested in more money with less liquidity,  so they have to liquidate the investment , any fool can understand , this is not the time for encashing  investment, this is the time for keep cash and get into investment . We knew cabraal tried sevaral time to touch the EPF but due to members protest they couldnt do so. So many politicians greedy eye sight directly to this fund as it holds trillions.Cabraal tries use this as an opportunity based on the situation.

EPF biggest investment is Government Bonds. Government Bonds won't fluctuate in price like other investments. It has a fixed return and selling the bond back to the government will not incur any losses to EPF. Your argument is wrong.

This has nothing to do be Cabraal. Benefit comes directly to Contributing Employees.

This is discretionary. You dont won't, you can wait without taking it.

This is a benefit for the poor and not for the rich.

12EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Sun Mar 29, 2020 6:33 pm

Yahapalanaya

Yahapalanaya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Why 20% give all 100%.Let 69Million get lessons.Now all trade unions become govt stooges. Crying or Very sad Crying or Very sad Crying or Very sad

13EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Sun Mar 29, 2020 6:38 pm

Kipling


Expert
Expert

Mastermind of attack on Zion Church arrested.

14EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Sun Mar 29, 2020 6:42 pm

Yahapalanaya

Yahapalanaya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Kipling wrote:Mastermind of attack on Zion Church arrested.
Ohhh again Mental back...... Shocked Shocked Shocked

15EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Sun Mar 29, 2020 6:56 pm

MoneyLover

MoneyLover
Manager - Equity Analytics
Manager - Equity Analytics

God Father wrote:
MoneyLover wrote:
God Father wrote:By paying 20% to member EPF annual interest cost will reduce. Further circulation of the money with the people will increase the economic activity of the country. With this saving government will be able to pay higher yield for the balance 80%. EPF also will be able to build the fund back to current level within 5 years.
This is a no brainer!

@God Father 
Could you please explain to us how could EPF reduces interest cost??

As we were aware, EPF payers return to members out of their earning by investing funds in fixed income securities and equities. To pay 20% to members EPF may need to sell nearly 20% of investment so income also will be lower!

Eg
EPF Fund Before Refund - Rs 1000
Refund 20% - 1000 x 20% = Rs 200
Balance Fund after refund  - Rs 800

Annual EPF yield payable to member- 10%
Annual cost to EPF before refund- Rs 1000 x 10% = Rs 100
Annual cost to EPF after refund - Rs 800 x 10% = Rs 80
Annual saving to EPF - Rs 20
Total paid to members - Rs 100
Recovery period - 100/20  = 5 years


Very very interesting calculation ........  Shocked Shocked

16EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Sun Mar 29, 2020 7:17 pm

ChooBoy


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Master plan from the Magician! Smile

Nivard on Siyatha tomorrow morning 7 or 30.For a situation like this Nivard is the best to lead Finance.

17EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Sun Mar 29, 2020 8:12 pm

npgslnawa


Manager - Equity Analytics
Manager - Equity Analytics

God Father wrote:Eg
EPF Fund Before Refund - Rs 1000
Refund 20% - 1000 x 20% = Rs 200
Balance Fund after refund  - Rs 800

Annual EPF yield payable to member- 10%
Annual cost to EPF before refund- Rs 1000 x 10% = Rs 100
Annual cost to EPF after refund - Rs 800 x 10% = Rs 80
Annual saving to EPF - Rs 20
Total paid to members - Rs 100
Recovery period - 100/20  = 5 years

ඈ.........???????  scratch  scratch  

ඔබගේ ගණන් හැදීමේ  හැකියාවේ විශ්මිත බව ගැන මට ඇත්තේ විශ්මිත බවක්.....  affraid

ආඩම්බරයි........ lol!

18EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Sun Mar 29, 2020 8:50 pm

MoneyLover

MoneyLover
Manager - Equity Analytics
Manager - Equity Analytics

npgslnawa wrote:
God Father wrote:Eg
EPF Fund Before Refund - Rs 1000
Refund 20% - 1000 x 20% = Rs 200
Balance Fund after refund  - Rs 800

Annual EPF yield payable to member- 10%
Annual cost to EPF before refund- Rs 1000 x 10% = Rs 100
Annual cost to EPF after refund - Rs 800 x 10% = Rs 80
Annual saving to EPF - Rs 20
Total paid to members - Rs 100
Recovery period - 100/20  = 5 years

ඈ.........???????  scratch  scratch  

ඔබගේ ගණන් හැදීමේ  හැකියාවේ විශ්මිත බව ගැන මට ඇත්තේ විශ්මිත බවක්.....  affraid

ආඩම්බරයි........ lol!
flower

19EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Mon Mar 30, 2020 4:41 pm

anges


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

ali baba in action ................other 39 thieves silently  behind the scene

20EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Mon Mar 30, 2020 10:22 pm

ColomboCSE


Manager - Equity Analytics
Manager - Equity Analytics

This is very good opportunity for members! If I can, i'll take all. 
I'm not mistaken now it will give 9% after age 55 we can not do much with current SL economic situation. 

21EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Tue Mar 31, 2020 10:16 am

lakymahesh


Senior Equity Analytic
Senior Equity Analytic

God Father wrote:This will give an opportunity for members to withdraw money before they are 55. This is a payment to members and not an investment. How can there be hanky panky. Dont be biased, this is one of the best proposals.
 
Even now you are able to get 30% of ur EPF Balance, so wahts news here ?

22EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Tue Mar 31, 2020 1:28 pm

Teller

Teller
Moderator
Moderator

Government is trying to rob the EPF money. EPF has been forced to invest low yeild gov bonds

23EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Tue Mar 31, 2020 1:49 pm

Teller

Teller
Moderator
Moderator

EPF refund proposal by Cabraal Screen39

24EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Tue Mar 31, 2020 2:20 pm

npgslnawa


Manager - Equity Analytics
Manager - Equity Analytics

@Teller

What Mr.Wasantha Samarasinghe said was 100% true.

But, He was the mastermind behind the disruption of the quarantine process and the evacuation of people in the Katunayaka trade zone to their homes.
As a result, the number of patients in cities and towns has increased.

Everything they say has a narrow political purpose.  Protecting the public is not their main objective.  Therefore, the truthfulness of what they say should be considered twice.

25EPF refund proposal by Cabraal Empty Re: EPF refund proposal by Cabraal Tue Mar 31, 2020 2:26 pm

Teller

Teller
Moderator
Moderator

I dont know more things , what i know only , Cabraal tried sevaral time to attack EPF. What ever previous attempt delivered a significant losses to EPF. What i believe this gives a huge threat to fund. Previous governments tried sevaral times to attack the fund.


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