Ashwini Vaishnaw, Union Information and Broadcasting Minister While...
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Indian port workers call for strike over pay and pension demands
Around 20,000 workers are part of the group of port workers'...
Nagaraju Maddirala appointed as new DFS Secy
Nagaraju Maddirala, Secretary-Designate, Department of Financial...
Tribunal cancels property gift deed as son fails to look after ailing mother
The senior citizen had earlier lodged a complaint with the Deputy Collector stating that her son was not offering her basic amenities after she gifted her property to him.
M Adharsh, Deputy Collector-cum-head, Karaikal District Social Welfare Tribunal, passed orders declaring the transfer of property to the son void and restoredit to the mother under sections 4(2) and 23(1) of the Maintenance and Welfare of the Parents and Senior Citizens Act, 2007.
Global investors including insurers urge Brazil to stop deforestation
The 25 European signatories include Norway’s Nordea Asset Management and the Church of England, which has a 2.8 billion pound ($3.5 billion) pension fund. The UK’s Legal & General Investment Management (LGIM) is among the largest investors with 1.2 trillion pounds under management.
The letter does not spell out consequences if Brazil’s government does not take action, but seven European financial firms told Reuters last week they could divest from Brazil-linked holdings if environmental destruction continues. Many of those firms also signed the letter to embassies.
Insurers need to be flexible with customers following unemployment spikes,says GlobalData
“Insurers need to be flexible with their customers in order to reduce the impact of rising unemployment. Payment holidays can help for a limited time period. Insurers should also be flexible and allow their customers to adjust their level of cover to one that is more affordable for them. The development of usage-based policies and short-term, on-demand policies with lower premiums will also help insurers retain some of their customers during difficult times, said Yasha Kuruvilla, Insurance Analyst at GlobalData
Pension insurance deals boost UK company shares by up to 3%,says report
Two-thirds of Britain’s company pension schemes are in deficit, following years of low interest rates which have slashed their investment income.
So-called bulk annuity deals enable companies to rid their balance sheets of the pension funds, which can be a deterrent to merger activity, but many companies cannot afford them.
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.