Pension

Govt to now contribute 14% to National Pension System, no tax on withdrawal

Indian News       Dec 10, 2018

  New Delhi: Finance minister Arun Jaitley Monday said the Centre has decided to increase its contribution to the NPS for the Central government employees to 14% and also made the entire withdrawal amount tax free at the time of retirement.   The decision was taken at...

Kejriwal announces old pension scheme will be restored in Delhi

Indian News       Nov 26, 2018

  New Delhi: Delhi Chief Minister Arvind Kejriwal announced on November 26 that the old pension scheme will be restored by his government and he will write to his counterparts in other states to follow suit.   He said a resolution to restore the old pension scheme...

ESIC data suggest 16 mn new jobs created in 13 months till Sept: Report

Data       Nov 23, 2018

New Delhi: Employees State Insurance Corporation (ESIC) data suggest that 16 million jobs were created during 13 months period till September, according to CSO data.   Meanwhile, new subscribers joining its health insurance scheme (ESI) dipped 5.2 per cent to 1.15 million in September.   As many...

India Inc increasing focus on employees’ emotional and financial wellbeing:Willis Towers Watson

Facts       Nov 21, 2018

  New Delhi: India Inc is beginning to take a more holistic view of employee health and wellness, going beyond physical wellbeing to include emotional and financial, according to the India Health and Wellbeing Study 2018 released by Willis Towers Watson, the leading global advisory, broking...

Central govt staff to get pension payment order on day of retirement: Govt

Indian News       Nov 11, 2018

  New Delhi: A mechanism has been put in place under which central government employees will get pension payment order (PPO) on the day of retirement, Union Minister Jitendra Singh said on Tuesday.   Inaugurating the All India Pension Adalat, he said Prime Minster Narendra Modi has...

IRDA proposes changes in product designs of life and pension products

Indian News       Oct 26, 2018

  Hyderabad: The Insurance Regulatory and Development Authority of India (Irdai)  on Friday has  proposed  a set of significant changes in the current regulations on product guidelines for linked and non-linked life insurance policies that would impact designing term, credit life and micro-insurance products    Apart from...

India ranks 2nd last in pension schemes, Netherlands, Denmark on top: Study

International News       Oct 23, 2018

  Mumbai: India has emerged as the second lowest among 34 countries providing retirement income systems with good benefits according to a study.    The Melbourne Mercer Global Pension Index has revealed that ageing population continued to pose challenges to the governments worldwide with policymakers struggling to...

Reliance Nippon Life Asset Management gets Employees' State Insurance Corp mandate to manage its funds

Indian News       Oct 11, 2018

  New Delhi: Reliance Nippon Life Asset Management (RNAM) on Thursday said it has received mandate from Employees' State Insurance Corporation to manage its funds.   After successfully fulfilling an independent competitive technical and financial bidding process, RNAM, the asset management joint venture of Reliance Capital and...

58 million Indians living without pension: Survey

Indian News       Sep 29, 2018

  New Delhi: Fifty eight million people in India are living without pension or any other form of assistance, civil society organisation Pension Parishad has said.  Citing the State of Pensions in India Report 2018, Economist Prabhat Patnaik said the Central government spends as little as...

Govt announces states' financial inclusion index, easy online MSME loans

Indian News       Sep 25, 2018

  New Delhi: The government on Tuesday announced three initiatives to take banking to the last mile comprising a financial inclusion index, geographical mapping of banking services and hassle-free online loans for MSMEs valuing up to Rs 10 million.     After an annual review meeting of the...

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