Siddhartha Mohanty, CEO & MD, LIC Siddhartha Mohanty, CEO &...
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Pension & Social Security
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Launch of NPS Vatsalya: Securing financial future of young citizens
"The launch of NPS-Vatsalya, allowing parents and guardians to...
FM says will evolve solution on New Pension Scheme to addresses relevant issues
Deduction of this expenditure up to 14 per cent of salary from the...
LIC’s P&G Scheme achieves a record Rs 1 trillion prm income
The P&G of the corporation manages funds of well over Rs.7 lakh crores managing through approximate 80,000+ Gratuity, Superannuation and Leave Encashment Schemes.
600,000 pensioners to gain as EPFO’s commutation come into play on Jan 1
These 630,000 pensioners had opted for commutation of their pension and got a lump sum amount at the time of retirement from their pension accumulations or fund before 2009. The provision for commutation of pension was withdrawn by the EPFO in 2009.
Govt plans to make PFRDA sole regulator for the pension products
“The proposed amendments will segregate the marketing functions from the PFRDA which will be only be a licensing authority. The Ministry of Finance*MoF) has finalised a few amendments to the existing PFRDA Act and after inter-ministerial consultations, it will go to the Cabinet for its final approval.It may be placed in the parliament during the forthcoming Budget session,” said Supratim Bandyopadhyay, Member (Finance). PFRDA.
Climate change has a significant impact on the liabilities of non-life insurers and reinsurers:EIOPA
Regarding climate risk, insurers and pension funds can play a key role in the transition towards a low carbon economy as major institutional investors, but this transformation carries significant investment risks as well. It is therefore crucial that both insurers and pension funds actively incorporate climate change risks in their own risk management frameworks.
UK pension insurance deals jump to record $50 billion in 2019, more in pipeline – advisers
Industry sources also expect a mammoth 11 billion pound bulk annuity deal from the British Steel Pension Scheme next year. BSPS said in an October consultation it planned to buy a bulk annuity if its funding level reached 103% on a buy-out basis – factoring in the cost of insurance.
Postmen, grameen dak sevaks may soon start selling insurance policies
“These postmen and grameen dak sevaks will be operating largely in un-banked and under-banked geographical areas and can provide the last mile reach to sell insurance products in remote and rural areas,” Irdai said.
U.K. investment firm Centricus forms insurance venture with Ex-Goldman partner
Centricus is targeting for the business to manage about $100 billion of assets under management for the unit and is already scouting for deals in Europe, co-founder Dalinc Ariburnu said in a phone interview Thursday.Centricus is seeking to replicate the model that Apollo Global Management Inc. created with Athene Holding Ltd., Ariburnu said.
RBI keeps rates on hold despite economy fears
The six-member monetary policy committee (MPC) unanimously voted to hold the key repo rate at 5.15% while the reverse repo rate was also held at 4.90%.The RBI reiterated that it would maintain an accommodative stance as long as it is necessary to revive economic growth which slowed to 4.5% in the September quarter from 7% a year ago, to stand at its lowest in more than six years.
Sons-in-law, daughters-in-law too could be arraigned if they neglect senior citizens: Draft Bill
The Maintenance and Welfare of Parents and Senior Citizens (Amendment) Bill, 2019, which has been cleared by the Union Cabinet and is likely to be introduced in Parliament soon, also removes the cap of Rs 10,000 as maximum maintenance.Now those who earn more should pay more to their parents as maintenance.
Cabinet approves a single regulator for all financial services in GIFT City
“The unifed body will be headed by a chairman and each of the regulators like Reserve Banof India, Sebi, PFRDA and IRDAI will have one representaives in the single regulatory body,” said Sitharamn after th Cabinet meeting,