She said as the number of individuals, aged 60 and above, is...
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Pension & Social Security
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Household savings are choosing mutual funds, insurance and pension funds over banks to invest savings: RBI Governor
``While bank deposits continue to remain dominant as a percentage...
Term Insurance: Multiple features with flexible options
Several term plans come with the flexibility of being converted...
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.
Govt allows one more pension option for left over employees of PSU insurance cos
“Government approves one more pension option for left over employees of public sector insurance companies who joined on or before 28 June, 1995. It would benefit 42,720 employees including 10,720 senior citizens,’’ Jaitley tweeted on Saturday.
Minimum assured return scheme for NPS subscribers soon
EOI has been invited from actuarial firms to design, develop and recommend minimum assured return scheme (MARS) under the National Pension System that can be implemented under NPS architecture