Piyush Goyal,Union Commerce and Industry Minister "I urge you to...
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In 10 yrs National Pension Scheme has 1.86 cr subscribers with an AUM of Rs 13 trillion: Sitharaman
Nirmala Sitharaman,Finance Minister NPS has generated 14 per cent,...
Centre invites platform aggregators to register gig workers on e-Shram portal
Mansukh Mandaviya,Union Minister of Labour and Employment Earlier...
IRDAI unveils `Standard Individual Immediate Annuity Product”, to be mandatorily offered by life insurers from Apr 1
The entry age for a customer to buy an annuity product is 40 years and maximum age is 80 years.The minium annuity amount under the proposed policy will be Rs. 1000 per month, Rs. 3000 per quarter, Rs. 6000 per half year and Rs. 12000 per annum.
Though pricing is left to the insurers, annuity rates should be derived based on actuarial principles and ensure that such annuity rates are fair and reasonable to customers.
Soon customers, needing pension products, could get an opportunity to buy guaranteed return products from the National Pension System (NPS) for building their retirement corpus. So far, the NPS has remained a market-linked pension scheme.
EPFO settles 56.79 lakh COVID-19 advance claims, releases over Rs 14,000 cr till Dec
According to the source, the EPFO has settled 197.91 lakh claims related to final settlement, death, insurance, advance claims and disbursed Rs 73,288 crore till December 31, 2020.
The amount of disbursals under COVID-19 claims to subscribers is a sizable amount of over one fifth of the total disbursement during the period by the EPFO.
Over 60% of seniors want to work post-retirement, spend on leisure travel: Survey
‘Seniors in India have traditionally been a dependent demographic, post investing their life’s earnings on their kids, a stable home, etc. They often depend on the Indian joint family milieu to support them. According to the survey findings, this trend is changing,” Antara said.
Committed to protect interest of NPS subscribers: Govt
“It is stated that the introduction of National Pension System (NPS) was a policy decision of the government of India in view of the increasing pension liability of the government,” said the letter issued to Patel by the department, which comes under the Finance Ministry.
Post Office Savings Bank likely to be interconnected with other banks by April
“Besides making services digitally accessible to people, we are focussing on doorstep delivery of services. This year we remitted Rs 900 crore money through around 85 lakh transactions and verified 3 lakh pensioners on their doorstep,” Department of Posts Secretary Pradipta Kumar Bisoi said.
AXA to sell its Greece operations for €165 million
Paris: AXA announced today that it has entered into an agreement with Generali to sell its insurance operations in Greece. Under the terms of the agreement, AXA will sell its Life & Savings and Property & Casualty businesses in Greece for a total cash...
EPFO settles 52 lakh Covid-19 claims, disburses Rs 13,300 cr: Gangwar
On the implementation of labour codes, he asked the industry representatives to provide their feedback on the draft rules of three labour codes on industrial relations, social security and occupational health safety & working conditions.
The ministry has circulated the draft rules on these labour codes to seek feedback of stakeholders. These three codes were passed in monsoon session of Parliament this year.
EPFO likely to credit 8.5% interest for 2019-20 by December in one go
“It (8.5 per cent interest) would comprise of 8.15 per cent from debt income and balance 0.35 per cent (capital gain) from the sale of ETFs (exchange traded funds) subject to their redemption by 31st December, 2020,” it had said.
EPFO extends deadline to submit life certificate by pensioners till Feb 28
Presently, a pensioner can submit JPP anytime during the year up to 30th November, which is valid for a period of one year from the date of issue. All such pensioners can submit life certificates till February 28, 2021.
Asset base, subscribers under NPS rising: PFRDA
So far, nearly 8,200 corporations have registered with the NPS, while many CPSUs are also migrating to this system, the PFRDA chairman added.