"Our demographic structure, with a greater proportion of younger people, favors a phase of accumulation. Since longevity is inching up, so also the need for a steady stream of income is increasing to mitigate old-age poverty. Further, as the traditional family support...
Pension & Social Security
Largest public pension fund CalPERS wants Buffet’s replacement as Chairman of Berkshire Hathaway
Warren Buffett, chairman, Berkshire Hathaway Inc. CalPERS said it invests more than $450 billion, including more than $2.3 billion in Berkshire shares. Berkshire plans for Buffett’s son Howard Buffett to become non-executive chairman after his father’s departure,...
China delays retirement of employees as population ages, exchequer runs dry
"The delayed retirement policy reflects that social welfare expenditures related to retirement and old age have become a heavy burden on the central government's financial expenditure, so it delays retirement to minimize this, its pay pressure," said Wu Jialong, a...
EPFO interest rate better than other schemes, reflects today’s realities: FM in RS
Finance Minister Nirmala Sitharaman cited the comparative prevailing interest rates of other schemes saying Sukanya Samriddhi Yojana offers 7.6 per cent, Senior Citizen saving scheme (7.4 per cent) and PPF (7.1 per cent), while SBI's 5-10 year fixed deposits attracted...
EPFO interest rate reduced to 4 decade low at 8.1% for 2021-22
Now, after the CBT decision, the interest rate on EPF deposits for 2021-22 will be sent to the Ministry of Finance for concurrence. EPFO provides the rate of interest only after it is ratified by the government through the finance ministry New Delhi: Retirement fund...
Sitharaman invites Canadian pension funds to invest in infra projects
"FM @nsitharaman complimented Canada for housing some of the largest and most successful pension funds globally and welcomed the investments from Canada into India, including in National Monetization Pipeline #NMP and National Infrastructure Pipeline #NIP," the...
Subscribers under PFRDA schemes increase 22% to 5.07 crore in February
The total assets under management (AUM) of the two schemes -- NPS and the Atal Pension Yojana (APY) rose 28.21 per cent to Rs 7,17,467 crore New Delhi: The number of subscribers under two flagship pension schemes by PFRDA jumped 22 per cent year-on-year to more than...
Swiss Re partners with NTUC Income to shield against future variation in Income’s annuity book
This partnership will help shield Income from future variations in its annuity book, by sharing with Swiss Re any future payments to annuitants who live beyond their age expectancy "In this instance, Swiss Re leveraged its global longevity reinsurance expertise,...
Max Life incorporates pension fund subsidiary, to infuse Rs 55 cr
Max Life Insurance Company Ltd has incorporated a wholly-owned subsidiary Max Life Pension Fund Management Ltd and will infuse Rs 55 crore into the firm by subscribing to 5.5 crore shares. The wholly-owned subsidiary company of Max Life Insurance Company Ltd (Max...
Rising incomes more harmful to environment than population growth
The Global Population Growth and Sustainable Development report, launched on Wednesday, is the latest in a series on major demographic trends The number of people on the planet more than tripled since 1950 and could reach nearly 11 billion by the end of the century,...