The Department of Pension & Pensioners’ Welfare on Friday...
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PFRDA plans to raise max entry age for NPS to 70 yrs, logs 23 pc growth in subscriber base in FY 2020-21
For those, will be are joining the NPS beyond 60 years of age, will now be allowed to be there until the age of 75 years,
PFRDA is planning to increase the withdrawal limit for which an investor doesn’t have to by any annuities from Rs 2 lakh to 5 lakh
PFRDA has decided to go for on-tap licensing where new players fulfilling the eligibility criteria can apply for licenses any time of the year.
2 more players including Axis bank with partnership of Axis Mutual Fund will start their operations soon,
Govt may hike pension sector FDI limit to 74%; Bill likely in next session
The powers, functions and duties of the NPS Trust, which are currently laid down under the PFRDA (National Pension System Trust) Regulations 2015, may come under a charitable trust or the Companies Act, they said.
The intent behind this is to keep NPS Trust separate from the pension regulator and managed competent board of 15 members. Out of this, the majority of members are likely to be from the government as they, including states, are the biggest contributor to the corpus.
Desist from exploiting COVID-19 situation: HC to IMA members
”In the time of the current crisis faced by the country following the second wave of COVID-19, their (associations’) members should desist from exploiting the situation by overcharging the affected persons,” the court said.
Nabard staff observe strike; seek pension updation
The Forum in a statement said it is demanding benefits including full pension after 20 years of qualifying service, calculation of pension based on last pay drawn or the average emoluments for the last 10 months, whichever is more, and updation of pension with each wage revision, at par with RBI employees.
PFRDA set to revise fee structure for pension fund managers from Apr
Bandyopadhyay said as as now the fund managers are charging only one basis point for every Rs 100 that they manage.
According to these slabs, for AUMs up to Rs 10,000 crore, the maximum investment management fee will be 0.09 per cent. From Rs 10,001-Rs 50,000 crore, the fee has been capped at 0.06 per cent; Rs 50,001-1,50,000 crore at 0.05 per cent and for AUMs crossing Rs 1,50,000 crore, the management fee will be 0.04 per cent.
One year since lockdown: India still recovering from unemployment blow
The data showed that the unemployment rate had peaked to 23.5 per cent in April and remained at 21.7 per cent in May. It started tapering off from June onward when it was recorded at 10.2 per cent in the month and further improved to 7.4 per cent in July.
However, the unemployment rate again rose slightly to 8.3 in August and improved to 6.7 per cent in September last year, as per CMIE data.
Govt raises PF threshold limit to ₹ 5 Lakh for availing Tax-Free Interest
In her Budget presented to Parliament on February 1, Finance Minister Nirmala Sitharaman had provided that interest on employee contributions to provident fund over ₹ 2.5 lakh per annum would be taxed from April 1, 2021.
Hike in monthly pension under EPS-95 scheme not possible without budgetary support: Govt
The trade unions have been pressing for higher minimum monthly pension under the EPS-95. Initially, they had proposed to provide at least Rs 3,000 per month to pensioners under the scheme. Later factoring in rise on cost of living index, some of them also demanded a minimum monthly pension of Rs 5,000 and even higher amounts under the scheme.
EPFO’s net new enrolments up 28% to 1.3 million in January 2021: Data
Among top 10 industry classification, Computer and IT services category along with Electrical, Mechanical or General Engineering Products category registered highest month-on-month growth of around 40 per cent as compared to previous month with 42,205 and 77,392 net additions for January 2021, respectively.
This was followed by Trading & Commercial establishments category with 82,238 net payroll additions registering 27 per cent growth as compared to previous month.
Subscribers under NPS, APY schemes rise 22 pc to 4.15 crore at Feb-end
As of February 28, 2021, total pension assets under management stood at Rs 5,59,594 crore, showing a year-on-year growth of 33.09 per cent, PFRDA said.