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Pension & Social Security
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NPS assets under management to touch Rs 15 lakh cr by fiscal end: PFRDA Chairman
(L to R)- Rama Mohan Rao Amara, MD of State Bank of India; Deepak...
Pitiable: SC on pension of retired high court judges
The petitioner, who was elevated as a judge of the Allahabad High...
NPS generated good returns for subscribers, says PFRDA Chairman
Supratim Bandyopadhyay,Chairman,PFRDA "Over a period of 12 years, the returns under equity schemes are more than 12 per cent, and in government securities, it was close to 9.9 per cent, and in corporate bonds, despite some credit events that we have seen, we have seen...
income, investments, insurance and institutional credit to drive financial inclusion:PM Modi
Prime Minister Narendra Modi “When income grows, investment becomes possible. Insurance coverage enables greater risk-taking ability and investments. Institutional credit gives wings for expansion. And We have worked on each of these pillars. When all these factors...
Centre introduces unique face recognition technology for pensioners
The Minister said that the Department of Pension has been extensively using technology to achieve this end, be it the introduction of Digital Life Certificate, the introduction of an intelligent common software "Bhavishya" for all Government of India Ministries for...
Joint bank account not mandatory for spouse pension, says govt
All banks disbursing central government pension have been advised that in case the spouse (family pensioner) opts for the existing joint bank account for credit of family pension, banks should not insist on opening a new account, it said New Delhi: Joint bank account...
EPFO empowers advisory body FIAC to take call on investment in new instruments like InvITs
Explaining the rationale behind the decision, Labour Secretary Sunil Barthwal told reporters,''If we want to provide high rate of interest then we have to follow guidelines of finance ministry. There are certain instruments (prescribed in norms) where we were not able...
EPFO net adds 15.41 lakh subscribers in Sept
Age-wise comparison of payroll data shows that the age-group of 22-25 years registered the highest number of net enrolments at 4.12 lakh during September 2021. This was followed by 18-21 years with around 3.18 lakh net enrolments. This indicates that many first-time...
Tatas and Max Life Insurance foray into pension sector, apply for licenses to become pension fund mangers
Axis bank also wants to set up a company as Pension Fund Manager and is waiting for approvals from Reserve Bank of india (RBI) which may be completed in next 15 days.
So far, NPS has seen a 60% jump in NPS onboarding in the first six months of this financial year and our returns (in CAGR) is more than 10% over a period of 12 years. The total corpus has grown to Rs. 6.67 trillion and the total number of subscribers is 4.60 crores as on 25th September, 2021.
Investors with $4 trln assets aim to tackle Asian firms on climate change goals
The six investors include BMO Global Asset Management EMEA, Fidelity International, Dutch pension fund PGGM, Britain-based Local Authority Pension Fund Forum, Aviva Investors and Legal & General Investment Management.
Initial engagement will focus on carbon risk and coal at banks and coal-exposed power companies, the group of investors, facilitated by Singapore-based advisor Asia Research & Engagement (ARE), said in a statement.
The move comes as investors become more active in the field of environmental, social and corporate (ESG) governance, helping to shape firms’ climate commitments to better manage that risk for their clients. ESG-related steps they have taken include backing activist shareholder resolutions and voting on board members and remuneration.
COVID-fuelled child labour crisis spurs call for global social protection fund
The pandemic has pushed many countries – from the United States to Rwanda – to spend trillions of dollars on short-term measures, including payments to businesses and poor families, to cushion their populations from economic shocks. A fraction of this cash could be used to start a fund offering basic income like cash transfers to the poor, pensions for the elderly and disability, unemployment and child benefits, campaigners said at an online event.”Social protection is absolutely fundamental,” said Sharan Burrow, general secretary of the Brussels-based International Trade Union Confederation. “If we have a fund to build those social protection systems for the 55% of the world’s people who have no social protection, and for the 72% who have little or no social protection, then it returns money and jobs to the economy,” she said.
EPFO adds 14.65 lakh members in July, up 31 pc over June
The ministry said of the total 14.65 lakh net subscribers, around 9.02 lakh new members have come under the social security umbrella of EPFO for the first time. Around 5.63 lakh net subscribers exited but rejoined EPFO by changing jobs within the establishments covered by the retirement fund body.