Several term plans come with the flexibility of being converted...
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Shriram Life Insurance launches affordable annuity plan
Shriram Life Insurance has launched an affordable annuity plan that...
EPFO’s gross new subscribers addition declined by over 4 per cent to 10.9 million in 2023-24
The report also showed that the gross addition of members of...
Modifications in National Pension Scheme financially untenable Finance Ministry
“In fact, the Asset Under Management (AUM) of the central government (Rs 1.45 trillion) and state government (Rs 2.20 trillion) schemes have been invested through pension funds across the government securities (around 50 per cent), corporate bonds (around 36 per cent) and only around 10 per cent is in equities and rest in money market instruments,” it said, adding that the scheme has provided returns of around 9.5 per cent since inception.
SC to decide if divorced daughter has same right to freedom fighter family pension as unmarried one
Is a divorced woman entitled to her freedom fighter father’s family pension like an unmarried or widowed daughter?
A high court said “yes”, while another ruled: “No. It is not a bounty.” The Supreme Court has now agreed to settle the question.
Calm before the storm for Japan suicides as coronavirus ravages economy
Kyoto University’s Resilience Research Unit has predicted 2,400 more suicides for each 1% rise in unemployment. If the virus subsides in a year, unemployment could peak at around 6% by March, lifting annual suicides to around 34,000, it estimated. If pandemic conditions persist for two years, a rise to 8% unemployment by March 2022 would see suicides spike over 39,000
LIC to start selling 7.40% govt’s pension scheme from tomorrow
The policy term is of 10 years and for policies sold during the first financial year i.e. up to 31st March 2021, the Scheme will provide an assured rate of return of 7.40 per cent annually, payable monthly (i.e. equivalent to 7.66 per cent.p.a.) for the entire duration of 10 years .For the policies sold during the next two financial years, the applicable assured rate of interest, at which the pension payment shall be made, will be reviewed and decided at the beginning of each financial year by Ministry of Finance, Government of India.
Over 50% of urban Indians feel COVID-19 situation getting worse
When asked about their concerns regarding the COVID-19 outbreak, a large majority (73 per cent) are very or fairly worried about the pandemic”s long-lasting negative impact on the society and its severe impact on their finances (71 per cent), it added.
Managing Millennial Mindset
To remain relevant, cites the Capgemini and Efma’s World Insurance Report 2020, incumbent insurers must take action, by re-evaluating their portfolios and harnessing partnerships to become ‘Inventive Insurers’. This involves shaping existing products to meet fast-evolving customer needs and preferences.
Germany must stabilise social security system with cash injection: officials
The German economy, Europe’s largest, is facing its deepest recession since World War Two even though a lockdown to contain the spread of the virus is being gradually eased. The plunge in business activity is expected to push down tax revenues and tear a gigantic hole in the public finances.
LIC’s P&GS vertical clocks Rs1,26,749 cr of prm in FY2019–20,settles 2.03cr maturity and money back claims & annuities
The corporation collected single premium of Rs 21,967 crores and non single premium of Rs 29,260 crores , the ratio being 42.88 for single premium and 57.12 for non single premium.
AUM under National Pension Scheme, Atal Pension Yojana touch Rs 4.17 lakh cr: PFRDA data
“The pension assets accumulated under NPS through monthly contributions by central government employees have reached Rs 1.38 lakh crore and state government employees have touched Rs 2.11 lakh crore, respectively,” PFRDA data showed.
IFRS 17 to be implemented from Jan 1st, 2023:IASB
“We encourage companies to continue to press forward at current pace and use this additional time to strengthen their processes and procedures as well as allow for more testing, dry runs and contingencies. We also believe a shared effective implementation date for IFRS 17 and IFRS 9 will avoid temporary earnings mismatches that would otherwise exist and reduce implementation costs,” said Ralph Ovsec, Senior Director at insurance and reinsurance broker Willis Towers Watson.