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EPS-95 pensioners demand Rs 7,500 minimum pension
Pensioners have been agitating for over 7-8 years for an increase...
Biden signs Social Security measure to expand benefits for some retirees
President Joe Biden "The bill I'm signing today is about a simple...
Virus disaster leaves deep scars on India’s economy
Surging unemployment, coupled with state lockdowns, a large increase in hospitalizations and fatalities amid the second wave and fears of a third wave, are prompting many people to cut spending.
Meanwhile, sales of cars and motorcycles fell 30% in April over March and are expected to slump by over 60% in May as automakers including Maruti Suzuki and Hero MotoCorp halted production for several days amid rising infections. Dealerships remain closed.
Covid-19: Govt announces additional benefits under EPFO, ESIC schemes
“The Ministry of Labour and Employment has announced additional benefits for workers through ESIC and EPFO schemes to address the fear and anxiety of workers about wellbeing of their family members due to increase in incidences of death due to COVID-19 pandemic,” a ministry statement said.
Enhanced social security is sought to be provided to the workers without any additional cost to the employer, it added.
Govt announces scheme to provide pension for dependents of COVID-19 victims
Besides family pensions, insurance benefits under the Employees” Deposit-Linked Insurance (EDLI) scheme have been enhanced and liberalised. Prime Minister Narendra Modi said these steps will help mitigate financial difficulties faced by these families.
To help these families live a life of dignity and maintain a good standard of living, the benefit of the Employee State Insurance Corporation (ESIC) pension scheme for employment-related death cases is being extended to even those who have died due to Covid, the PMO said in a statement.
Phoenix Mills, Canada Pension Plan Investment to form JV to develop retail centre
CPP Investments Managing Director, Real Estate – India, Hari Krishna said, ”With this investment, CPP Investments’ equity commitment to multiple ventures with The Phoenix Mills amounts to over Rs 26.2 billion. India is one of the most important markets for us in the Asia Pacific and a critical part of our long-term strategy”.
CM Thackeray asks officials to devise policy to help COVID-19 orphans
The Pediatric Task Force on COVID-19 set up by the government and the Women and Child Development Ministry should work in co-ordination to safeguard children in the state from coronavirus infection, the chief minister said.
Over 500 children orphaned in India due to second wave of Covid
The central government is constantly monitoring all these orphaned children in coordination with the state governments. For the care and well-being of such orphaned children, Rs 10 lakh has been released to each district across the country, through the Non-Institutional Child Care Fund.
Air India unions seek forensic audit of PF trusts
”It has come as a shock to all of us unions, many of whom were not involved or aware of the day to day functioning of the Provident Fund trusts of Indian Airlines and Air India that huge losses have been incurred by both trusts, due to questionable investments in companies like ILFS and Dewan Housing, among others, which collapsed,” the unions said in the e-mail, accessed by PTI.
The Forum claims representation of over 10,000 Air India staff members comprising pilots, engineers, cabin crew and ground staff.
As China grows old, elder care costs loom large
According to the National Bureau of Statistics (NBS), in about 25 years, one-third of China’s population will be retirees, and their living and health care expenses will take up one-fourth of the country’s Gross domestic product (GDP). Moreover, China’s increasing elderly population will reduce the supply of labor force and increase the burden on families’ elder care and the pressure on the supply of basic public services.
MHA asks states, UTs to strengthen facilities for vulnerable groups, kids orphaned due to COVID-19
The Centre has asked states and union territories to ”immediately review” the existing facilities for such groups, especially for children who have been orphaned, senior citizens who may require timely assistance and support (medical as well as safety and security), and members of the scheduled castes/scheduled tribes who may need guidance to access government-supported facilities.
PFRDA subscriber base jumps over 23% to 42.7 million by April 2021
The assets under management (AUM) of these two schemes jumped by more than 36 per cent to Rs 5.90 lakh crore by the end of first month of the current fiscal year 2021-22. Of this, the AUM of APY scheme moved up by 47.4 per cent to Rs 16,136 crore.