"Customer expectations in financial services are changing, with a...
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Pension & Social Security
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SC fastens liability of paying penalty on employer for delay in depositing compensation
"The perusal of the statement of objects of the said legislation...
Weight-Loss Drugs: Are new weight-loss drugs key to solving the obesity epidemic
Obesity is a serious medical problem as it is associated with...
EPFO retains 8.25 pc interest rate on employees’ provident fund deposits for 2024-25
The retirement body had paid 50.8 million claims worth Rs 2.05 lakh crore in 2024-25, up from 44.5 million claims totaling Rs1.82 lakh crore in the previous year. The 8.25 per cent interest rate in 2023-24 was based on EPFO’s record investment income of Rs 1.07 lakh...
Demographic reality – a growing elderly population with fewer working-age people
Jad Ariss, managing director of the Geneva Association, said: “The longevity revolution is one of the defining challenges – and opportunities – of our time. Insurers are uniquely positioned to help people navigate longer lives. This will require bold innovation and...
DFS Secy launches LIC’s new Pension plan
M.P. Tangirala, additional secretary, M. Nagaraju, secretary, financial services, Ministry of Finance, M Jagannath, managing director, LIC at launching ceremony of LIC's new Pension plan LIC’s smart pension plan is a non-par, non linked, Individual/Group, savings, and...
Finmin notifies assured pension scheme for govt employees, to be effective from April 1
The notification will give the option to 23 lakh government employees to choose between UPS and NPS, which came into effect on January 1, 2004.The notification added that the rate of full assured payout will be 50% of 12 monthly average basic pay, immediately prior to...
Mandaviya directs EPFO officials to improve claim settlement, grievance redressal
NEW DELHI: Union Labour Minister Mansukh Mandaviya on Friday directed retirement fund body EPFO officials to further streamline claim settlement process, ensure timely grievance redressal, and adopt a public-friendly approach during a review meeting. Mandaviya...
Karnataka High Court rules employer can’t forfeit gratuity without recovery proceedings
The judgment clarified that dismissal is a punitive action taken against an employee following due process but does not automatically entitle the employer to retain dues Bengaluru: The Karnataka High Court has ruled that an employer cannot withhold or forfeit the...
EPS-95 pensioners demand Rs 7,500 minimum pension
Pensioners have been agitating for over 7-8 years for an increase in the minimum pension from Rs 1,000 to Rs 7,500, along with DA and free medical treatment for both the pensioner and their spouse New Delhi: A delegation of EPS-95 pensioners met Finance Minister...
Biden signs Social Security measure to expand benefits for some retirees
President Joe Biden "The bill I'm signing today is about a simple proposition: Americans who have worked hard all their lives … should be able to retire with economic security and dignity," Biden said. "That's the entire purpose of the Social Security system crafted...
Bandhan Life partners with Policybazaar to launch Pension plan
Bandhan Life Insurance has partnered with Policybazaar.com to launch Bandhan Life Invest Pension - a ULIP pension plan designed to help customers build a corpus for their retirement years. Satishwar B., MD & CEO of Bandhan Life Insurance, commented, “By offering...
EPFO launches centralised pension system, benefitting 6.8 mn members
The Centralized Pension Payments System (CPPS) is a paradigm shift from the existing pension disbursement system that is decentralised, with each zonal/regional office of EPFO maintaining separate agreements with only 3-4 banks, the ministry explained in a statement...