Sumita Dawra, Secretary, Ministry of Labour and Employment and...
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Pension & Social Security
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Ex-judge Ganediwala who gave controversial verdicts to get pension on par with HC judge
Ganediwala had sought for pension as HC's additional judge,...
Employees Provident Fund Organisation (EPFO) will soon launch the “EPFO 3.0 version,”with ATM withdrawal
"In the coming days, EPFO 3.0 version will come. This means EPFO...
Govt raises premium for flagship insurance schemes PMJJBY, PMSBY
The premium rate of PMJJBY has been revised upward to Rs 1.25 per day, translating into an increase from Rs 330 to Rs 436 annually The annual premium for PMSBY has been hiked from Rs 12 to Rs 20, an official statement said New Delhi: The government on Tuesday raised...
Income of 94.11% registered informal workers at Rs 10,000 or below,74pc belong to SC, ST, OBC
e-Shram portal is aimed at building a comprehensive National Database of Unorganized Workers (NDUW) in the country The data showed that 94.11 per cent of the registered informal workers have a monthly income of Rs 10,000 or below, while 4.36 per cent have a monthly...
UK’s Sunak extends one-off $46.6 bn y to ease a cost-of-living crisis for public
British finance minister Rishi Sunak A new, one-off GBP 650 payment will be offered to more than 8 million low-income households on Universal Credit, Tax Credits, Pension Credit and other benefits, with separate one-off payments of GBP 300 to pensioner households and...
Chhattisgarh govt asks PFRDA to return Rs 17,240 crore for old pension scheme rollout
In a letter to the Chairman of PFRDA, New Delhi on Friday, state’s Finance Secretary Alarmelmangai D said the Chhattisgarh government has decided to reinstate the old pension scheme (OPS) and therefore, the demand is being made to implement the decision Raipur: The...
EAC-PM recommends a guaranteed employment scheme and universal basic income to reduce inequality in India
The report also noted that raising minimum income and introducing universal basic income are some of the recommendations that can reduce the income gap and equal distribution of earnings in the labour market "Most importantly, the government must allocate more...
Private sector to drive growth of National Pension Scheme: Study paper
"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...
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...