Deduction of this expenditure up to 14 per cent of salary from the...
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Union Budget offers income tax sops for 4 crore salaried individuals
The standard deduction for salaried employees is proposed to be...
Govt to launch three employment-linked schemes: FM
While presenting the Union Budget for 2024-25, Finance Minister...
Johnson & Johnson plans to test its COVID-19 vaccine in ages 12-18 soon
“We plan to go into children as soon as we possibly can, but very carefully in terms of safety,” J&J’s Dr. Jerry Sadoff told a virtual meeting of the U.S. Centers for Disease Control and Prevention’s (CDC) Advisory Committee on Immunization Practices on Friday.
AIG to separate Life & Retirement business
”Peter S. Zaffino, AIG’s President & Global Chief Operating Officer, and CEO-elect, stated, “Across AIG, we have made significant progress executing on our strategy to deliver value for our clients, distribution partners, shareholders and other stakeholders. Our businesses can be further strengthened by separating Life & Retirement from AIG, which we believe will enable each entity to achieve a more appropriate and sustainable valuation.”
Changing global retirement planning
Global life expectancy went up by five years between 2010 and 2015, the fastest increase since the 1960s. A post-pandemic boost to healthcare investment may make us all live longer, on average.
Asians naturally don’t want to die working, and many societies have some form of non-family safety net. Japan has a public long-term care insurance. In South Korea, Taiwan, Singapore, Hong Kong, and Malaysia, retirees expect the government to play a role in ensuring income security.
Indians have an even keener wish. Given the country’s youthful demographics, constrained state finances and underdeveloped pension markets, even limited financial assistance for the elderly may have to be “purchased” by them from the next generation.
India to fall below Bangladesh in terms of per capita GDP in 2020
Going by the latest IMF estimate, India would be the third poorest nation in South Asia, with only Pakistan and Nepal reporting lower per capita GDP, whereas Bhutan, Bangladesh, Maldives, and Sri Lanka would outpace India.
However, India, Asia’s third-largest economy, is likely to bounce back with an impressive 8.8 per cent growth rate in 2021, thus regaining the position of the fastest growing emerging economy, surpassing China’s projected growth rate of 8.2 per cent, the IMF said.
Govt scraps requirement of min 7 year continuous service for enhanced family pension
Further, the family of armed forces personnel who died within 10 years before October 1, 2019, without completing continuous service of seven years, would be getting the enhanced ordinary family pension,
U.S. pension funds sue Allianz after $4 bln in coronavirus losses
Market panic around the virus that resulted in billions in losses earlier this year scarred many investors, but no other top-tier asset manager is facing such a large number of lawsuits in the United States connected to the turbulence.
In March, Allianz ALVG.DE was forced to shutter two private hedge funds after severe losses, prompting the wave of litigation the company says is “legally and factually flawed”.
Together, the various suits filed in the U.S. Southern District of New York claim investors lost a total of around $4 billion.
EPFO records 8.45 lakh new enrolments in July
Latest data released on Sunday showed that net new enrolments in April were in the negative zone at (-) 61,807 against the figure of 20,164 released in August. This means that the number of members who exited the EPFO subscription was more than the number of people who joined or rejoined the scheme.
PFRDA wants more players and higher cost structure for NPS fund managers: Chairman
“Hopefully, we will not be restricting the numbers but there will be some entry barriers to see that only very serious players should come,” said Bandyopadhyay on Friday while addressing an virtual Insurance and Pensions Summit hosted by the CII .
EPFO decides to credit part of 8.5% interest for FY20: Report
The decision to provide 8.15 per cent interest on EPF has been taken at the Employees’ Provident Fund Organisation’s (EPFO) trustees meet held on Wednesday, a source told PTI.
The remaining 0.35 per cent rate of interest on EPF for 2019-20 would be credited into the subscribers account in December this year, the source further said.
Cabinet discusses labour reforms, to push remaining 3 Codes in Monsoon session
Earlier this month, Labour Minister Santosh Gangwar had indicated that remaining three labour codes on industrial relations, social security and occupational safety and health would be tabled in the ensuing Monsoon session of Parliament.