As per the Maharashtra cabinet’s decision, UPS will be effective...
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Unified Pension Scheme provides benefit of both old and new pension schemes: Govt
Government says the Unified pension scheme has the advantages of...
Cabinet approves 50% of salary as pension for 23 lakh central govt employees, to be effective from Apr 1, 2025
Ashwini Vaishnaw, Union Information and Broadcasting Minister While...
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.
Reinsurers’ pandemic losses have started to fade:Fitch
All four major reinsurers have remained well capitalised so far in 2020, which was partially achieved by the issuance of subordinated debt. This allowed for strong premium growth in reinsurance, driven by higher prices, rising demand in Asia, and an increased risk appetite.
Labour Ministry seeks feedback on draft rules under Code on Social Security
The draft rules provide for operationalization of provisions in the Code on Social Security, 2020 relating to Employees’ Provident Fund Organisation (EPFO), Employees’ State Insurance Corporation (ESIC), gratuity, maternity benefit, social security and cess in respect of building and other construction workers, social security for unorganised workers, gig workers and platform workers.
The draft rules also provide for Aadhaar-based registration including self-registration by unorganised workers, gig workers and platform workers on the portal of the Central government, the statement said.
Will ask govt to make employers’ contribution tax-free in Budget:PFRDA
“We may propose things like 14 per cent contribution by employers to be made tax free to all. Currently, it is given only to the central government employers.So we are requesting the government to give it to all the employers, whether it is state governments or other corporate entities, so that subscribers across the board can get this benefit,” Supratim Bandyopadhyay, chairman, PFRDA said
HelpAge India receives the 2020 UN Population Award’ for its outstanding service
There are an estimated 106 million elderly in India. HelpAge India provides relief through various agecare, healthcare & livelihood interventions such as – it runs one of the largest network of Mobile Healthcare Units in India, provides agecare services through care homes. It has pioneered Elder-Self-Help-Groups in rural India, for providing livelihood opportunities. It operates a national Elder Helpline service and empowers seniors through Digital Literacy workshops, so they are not excluded from the social fabric and can lead active & independent lives.
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.