Observing that denial would amount to violation of right to...
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Pension & Social Security
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Liberal approach must be adopted while considering disability pension to army men: SC
"We must appreciate the fact that the provisions for grant of...
India secures 3-year exemption from social security contribution for domestic workers in UK
Presently, Indian professionals working for a limited period in...
Himachal Pradesh to implement Old Pension Scheme from April 1, to bear a burden of ₹ 1,000-crore during 2023-24
The employees under the New Pension Scheme (NPS), who have retired after May 15, 2003, will be given OPS from the prospective date. The decision would put a burden of ₹ 1,000-crore on the state exchequer during 2023-24 financial year, Shimla: The Himachal Pradesh...
IRDAI simplifies norms for senior citizens availing Immediate Annuity products from NPS proceeds
The exit form of NPS will be treated as proposal form for purchasing annuity, thereby reducing the time and efforts of senior citizens as well as insurers. Hyderabad: In order to bring ease of living for senior citizens, the insurance regulator IRDAI has relaxed the...
Eligible EPFO members can now apply for higher pension benefits till May 3, 2023
In November 2022, the Supreme Court had upheld Employees' Pension (Amendment) Scheme 2014. The EPS amendment of August 22, 2014 had raised the pensionable salary cap to Rs 15,000 a month from Rs 6,500 a month, and allowed members along with their employers to...
National Pension System: Investing for Retirement
An impending challenge employees or workers may face in India, is the risk of inadequate pension arrangements after retirement from work. As a fallout, individuals may either be required to put severe curbs on their post-retiral expenses or continue working beyond the...
Sebi proposes to allow pension funds to participate as anchor investors in public issues
In its consultation paper, the regulator has proposed that rules should be amended to allow pension funds of entities which are associates of the lead managers, to participate as an anchor investor in a public issue Mumbai: Sebi on Wednesday proposed to allow pension...
World Day of Social Justice: Deeper dialogue across ‘real economy’ can drive progress
Poverty and inequalities within and among countries are on the rise in many parts of the world. Inequality remains very high, with annual gross domestic product per capita ranging from about $600 at purchasing power parity in the poorest country to more than $115,000...
5 states inform Centre about reverting to old pension scheme
''The state governments of Rajasthan, Chhattisgarh, Jharkhand, Punjab, and Himachal Pradesh have informed the central government/Pension Fund Regulatory and Development Authority (PFRDA) about their decision to restart Old Pension Scheme (OPS) for their state...
FACTBOX-Later retirement, income guarantees: What’s in France’s pension reform?
From 2027, workers will have to make social security contributions over 43 years rather than 42 years in order to draw a full pension. The additional year was already foreseen in a 2014 reform but Macron is accelerating the pace of transition. Guaranteed minimum...
Atal Pension Yojana has now more than 5cr subscribers
The scheme has done very well in the calendar year 2022 by enrolling more than 1.25 crore new subscribers in comparison to 92 lakh new subscriber’s enrolment in the calendar year 2021 Mumbai: Atal Pension Yojana(APY), the flagship social security scheme of the...
Maha govt positive about old pension scheme for teachers and govt employees: CM Shinde
Eknath Shinde, Chief Minister,Maharashtra Under the old pension scheme, employees get a defined pension. Under this, an employee is entitled for a 50 per cent amount of the last salary drawn as pension However, the pension amount is contributory under the National...