N Chandrababu Naidu,Chief Minister,Andhra Pradesh Over 65 lakh...
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Pension & Social Security
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IOA planning medical insurance and pension for former Olympians
"The IOA is committed to taking athlete-centric steps, and one of...
EPFO adds highest-ever members in April since 2018
The share of women in the new members stood around 2.49 lakh out of...
FM provides relief for NPS subscribers
However, Sandip Shrikhande, CEO, Kotak Mahindra Pension Fund , said “From a NPS point of view, the budget has proved to be a bit of a dampener. 14% limit is applicable only to the Central Government’s contributions to its employee’s account. Similarly, 80C exemption on Tier II contributions is available only to Central Government employees. The good thing is that the withdrawal is now completely tax-free.”
Retirement age set to rise due to higher life expectancy: Eco Survey
“Since an increase in the retirement age is perhaps inevitable, it may be worthwhile signalling this change well in advance perhaps a decade before the anticipated shift so that the workforce can be prepared for it,” the Economic Survey for 2018-19, tabled in Parliament by Finance Minister Nirmala Sitharaman Thursday, said.
New scheme to provide social security pension to farmers
“The scheme provides for payment of a minimum fixed pension of Rs 3,000 per month to eligible farmers on attaining the age of 60 years. It is a voluntary and contributory pension scheme, with entry age of 18 to 40 years.
UK’s Legal & General Partners with Amazon to Create Blockchain System for Pensions
Blockchain suits “the long-term nature of annuities business as it allows data and transactions to be signed, recorded and maintained in a permanent and secure nature over the lifetime of these contracts, which can span over 50 years,” Thomas Olunloyo, CEO of Legal & General Reinsurance said.
In historic first, G20 weighs aging as global risk
Longer life-expectancy and sliding birth rates, particularly among wealthy nations, have resulted in a rapid expansion of the elderly population in places like Spain, Italy and South Korea, according to the Organization for Economic Co-operation and Development.
Foreign insurers eye China’s $1.6 trillion private pension business
China’s pensions assets, including those managed by the state, grew by 20 percent in 2017 to 11 trillion yuan ($1.64 trillion) and are expected to more than quadruple by 2025, consultancy KPMG said in a report this year.Underlining the potential, consultant Willis Towers Watson said China has one of the lowest ratios of private-employee annuity pension assets to GDP among major economies at 1.5 percent. That compares with 120.5 percent of GDP in the United States and more than 130 percent in Australia.
CPI announces assured pension of Rs 9k per month
It also announced that it was for the implementation of the one rank one pension to all the retired defense personnel, universalisation of the PDS system, ensuring allocation of six per cent of GDP to health sector and the functional autonomy of the EC, CAG, RBI, CBI, CVC and other institutions of oversight.
PMSYM scheme: Government eyes over 1 crore enrolments by April-end
“We have already enrolled 25.36 lakh unorganised sector workers under the PMSYM scheme so far. We are enroling about one lakh subscribers every day. We are hopeful that we would be able to enrol a total of one crore subscribers by end of April, 2019,” Dinesh Tyagi, CEO, CSC e-Governance Services India Ltd (CSC SPV) told PTI.
Govt to soon start selection process for new PFRDA chairman
Contactor is the first Chairman to head the regulatory body. He had joined PFRDA on October 7, 2014.As per the Act, the chairman will have a tenure of 5 years or till age of 65 years, whichever is earlier.
Government expects 1 crore enrollment for new pension scheme by end March
The scheme, launched by Prime Minister Narendra Modi on March 5 in Ahmedabad, aims to provide pension to 42 crore workers in the unorganised sectors. Under this scheme, unorganised workers will get a pension of Rs 3000.