Pension

Outgo on pension to exceed salary payment this fiscal: Finance Ministry

Indian News       Aug 07, 2018

  New Delhi: The government's outgo on pension will exceed the expenditure on salaries by nearly Rs 10,000 crore in the current financial year, and the trend will continue for two more years till March 2021, a Finance Ministry document said today.   As per the Medium...

Assam govt employees to face pay cut for neglecting parents, differently-abled siblings

Indian News       Jul 30, 2018

  Gawahati: The Assam government is set to roll out a law from October 2 making it mandatory for state government employees to look after their aged and dependent parents and differently-abled siblings who do not have a source of income. Last year, the state assembly...

Govt mulls raising pension limit to up to Rs 10,000/month under APY

Indian News       Jun 12, 2018

  New Delhi: The government is considering a proposal to raise the pension limit under Atal Pension Yojana (APY) to up to Rs 10,000 per month from the existing slab of up to Rs 5,000, a top official said today.   There is a need to increase...

Aadhaar only an add-on, not mandatory for getting pension: Govt

Indian News       May 17, 2018

  New Delhi: Aadhaar card is not mandatory for central government employees to get their pension, Minister of State for Personnel Jitendra Singh has said.   In 30th meeting of the Standing Committee of Voluntary Agencies here recently, he said Aadhaar is an additional facility to enable...

Govt mulling six-month jail term for those abandoning elderly parents

Indian News       May 12, 2018

  New Delhi: The Narendra Modi government is planning to increase the jail term for those who abandon or abuse their elderly parents, to six months from the existing three months, according to a senior official. The Ministry of Social Justice and Empowerment, which is reviewing...

Prudential and PIC reach sixth longevity reinsurance agreement amid surging demand for pension de-risking

International News       May 09, 2018

  NEWARK, N.J: Prudential Retirement, a unit of Prudential Financial, Inc. (NYSE: PRU), and Pension Insurance Corporation plc (PIC), have struck their sixth longevity reinsurance transaction since 2015. The Prudential Insurance Company of America (PICA) assumes the longevity risk for £900 million (about $1.2 billion) in...

Hemant Contractor, chairman,PFRDA

AUM of pension fund industry grows by 38 pc to Rs 2.40 trn in 2017-18:PFRDA Chief

Indian News       Apr 18, 2018

Mumbai: Showing a substantial pick-up, the total assets under management(AUM) of the pension fund players - operating in   the National Pension System (NPS ) and as regulated by the the Pension Fund Regulatory and Development Authority (PFRDA)- have gone up by 38 per cent to...

No proposal to replace National Pension System: Govt

Indian News       Mar 28, 2018

New Delhi: There is no proposal to replace the National Pension System (NPS) with the old pension scheme, the Lok Sabha was informed today. The NPS gives the utmost importance to the welfare of subscribers, Minister of State for Personnel Jitendra Singh said in a...

Cheer for employees as tax-free gratuity cap doubled to Rs 2 million

Data       Mar 22, 2018

New Delhi: Parliament on Thursday passed a key bill that will empower the government to fix the amount of tax free gratuity and the period of maternity leave with an executive order.   The Rajya Sabha, which has failed to transact any significant business over the...

Revise meagre Rs 1,000 minimum pension in EPF Scheme:Parliamentary panel

Indian News       Mar 15, 2018

New Delhi: A Parliamentary panel today asked the government to assess Employees Pension Scheme 1995 and consider revision of minimum monthly pension of Rs 1,000 under that, saying the social security benefit is too meagre to fulfil even basic needs.   The Parliamentary Standing Committee on...

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