In a recent decision, the federal government has announced a reduction in the interest rate on the General Provident Fund (GPF) for government employees, along with other related loans.
As per a notification issued by the Finance Division, the annual profit rate for the fiscal year 2022-23 was previously set at 14.22 percent. However, the government has now revised this rate to 13.97 percent, effective immediately.
This new profit rate applies to both the General Provident Fund (GPF) and the Contributory Provident Fund (CPF), impacting the financial benefits for government employees and the terms of related loans.
