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East India better insured to take on retired life than other regions: Max Life Study
Notably, East India also led in National Pension System (NPS)...
Successful completion of pilot run of new Centralized Pension Payments System under EPS Scheme
Mansukh Mandaviya, Minister of Labour & Employment In CPPS,...
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.
Dubai dusts off a two-year-old plan to lure wealthy retirees as expats begin to move out
Dubai could be a pricey destination for pensioners and is likely to face stiff competition from countries like Spain, Costa Rica and Malaysia, which tend to have a lower cost of living and cheaper medical expenses.
LIC launches new Annuity Plan
he policyholders have an option to choose a type of annuity from 10 available options on payment of a lump sum amount.
The annuity rates are guaranteed at the inception of the policy and annuities are payable throughout the life time of annuitants.
India’s IFSCA gets members from 4 regulators,to regulate financial markets in IFSCs
The centre has notified the names of T.L.Alamelu,member, IRDAI, Indrani Banerjee,executive director,Reserve Bank of India(RBI), Sujit Prasad,executive director,Securities and Exchange Board of India(Sebi),Ananta Gopal Das,executive director,Pension Fund Regulatory and Development Authority(PFRDA), as members of IFSCA)
Chile’s Congress passes pensions bill,president agrees to sign it
Chile’s lower chamber erupted in cheers and clapping after the bill was passed on Thursday, with some chanting “no more AFP” – a reference to the long-running campaign to tear up Chile’s much-mimicked defined contribution Pension Funds Administrators (AFP) system that was introduced during the Augusto Pinochet dictatorship.
Atal Pension Yojana subscribers can change contribution amount anytime during year
The PFRDA further said from July 1, 2020 auto-debit of APY contributions has also started, which was stopped till June 30 in the wake of COVID-19 outbreak.
As per current arrangements, if all the pending APY contributions due between April-August, 2020 get auto-debited from savings account of the subscribers, latest by September 30, then no penal interest would be charged to them.
IRDA likely to implement new Indian Accounting Standard in the insurance sector soon
In its recent board meeting the IRDA discussed, the status of implementation of the Ind AS in the insurance sector in India and had taken the following decisions on the matter of Ind AS.
-approval of implementation of Ind AS 109 and IFRS 17 equivalent in India simultaneously,along with other applicable Ind AS,
– re-visit existing regulations on preparation of financial statements,
– direct the insurers to discontinue submission of proforma Ind AS financial statements being filed effective quarter ending 31st December, 2016 and
-to decide on the date for implementation of all applicable Ind ASs after the finalization of IFRS 17 by IASB which is expected during mid 2020.
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.