As specifically mentioned in the orders of the apex court, "grant...
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Pension & Social Security
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All high court judges entitled to full pension: SC
Observing that denial would amount to violation of right to...
Liberal approach must be adopted while considering disability pension to army men: SC
"We must appreciate the fact that the provisions for grant of...
Raj CM Gehlot firm on Old Pension Scheme, dismisses Montek’s ‘financial bankruptcy’ remark
Rajasthan Chief Minister Ashok Gehlot Former deputy chairman of the Planning Commission Montek Singh Ahluwalia cautioned state governments that bringing back the Old Pension Scheme could be a regressive step and lead to financial insolvency Shimla: Rajasthan Chief...
Japanese families offered huge cash to move out of Tokyo
According to the Statistics Bureau of Japan, in 2021, 28.9% of Japan’s total population was at least 65 years old, marking a record high for the country. There were 14.78 million 0-14-year-olds in the same year, accounting for 11.8% of the total population, the lowest...
Axis Bank forays into retirement biz with pension fund management, crosses Rs 100 cr in AUM
The third largest private sector lender received a commencement of business certificate from the Pension Fund Regulatory and Development Authority (PFRDA) on September 20, and the AUM has been managed in the first 45 days of the business, as per a company statement...
Old pension scheme will put burden of Rs 1.10 lakh cr on exchequer, Maha govt won’t revert to it: Fadnavis
Devendra Fadnavis,Deputy 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 Mumbai: Maharashtra Deputy Chief Minister Devendra...
Pension liability between J’khand-Bihar to be resolved in Eastern Zonal Council meet
Bihar alleges that Jharkhand is a debtor of more than Rs 4,000 crore while the latter says that Bihar is responsible for the undue and illogical burden on it The Jharkhand government filed a case in the Supreme Court regarding the same which may take time to reach a...
AP Cabinet raises the social pension to Rs 2,750 per month
The Andhra Pradesh Cabinet on Tuesday gave its green signal to increase the social pension to Rs 2,750 per month from the existing Rs 2,500. The increased pension will be distributed from January 1, 2023. According to an official release, an additional expenditure of...
Climate change could cost pension funds billions, EU watchdog says
Only 14% of pension schemes said they were already using environmental stress-testing in their own risk management, a subgroup that performed better than their peers in the test, EIOPA said. Pension funds across the European Union would lose billions of euros from...
No proposal for restoration of old pension scheme Karad
"The state governments of Rajasthan, Chhattisgarh, and Jharkhand, have sent proposals to the central government/PFRDA to return the accumulated corpus of subscribers under NPS to respective state governments. No such proposal has been received from the state...
ICICI Prudential Pension Funds turns profitable; to expand in more cities, tie up with fintech firm
The Rs 8.2-lakh crore pension fund industry, excluding the Atal Pension Yojana funds, is still vastly controlled by government agencies. Over Rs 6 lakh crore of the total pension fund is managed by the EPFO and Rs 90,000 crore, up from Rs 47,000 crore in FY20, from...
Americans spend less after retirement age: Research
"This research provides new insights about spending during traditional retirement years and should help households, policymakers and financial advisors better determine adequate saving rates during the working life and affordable spending levels during retirement,"...