A noticeable aspect of the data is the dominance of the 18-25 age...
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PFRDA inaugurates app for financial inclusion, boost NPS
PFRDA Chairperson Deepak Mohanty on Thursday launched a web...
8 lakh bank employees to get 17% annual wage hike, 5-day work week awaits govt approval
For the retired employees, it was agreed that the monthly ex-gratia...
Govt mulling six-month jail term for those abandoning elderly parents
The draft Act also proposes doing away with an upper limit of Rs 10,000 per month as maintenance amount, thus making it variable.
Prudential and PIC reach sixth longevity reinsurance agreement amid surging demand for pension de-risking
This agreement signals strong demand for longevity reinsurance in the U.K., especially as a result of the growing desire among companies to de-risk their pensions. This desire has become more achievable due to the improved funding levels of U.K. schemes, many of which have spent several years progressively de-risking their liabilities.
AUM of pension fund industry grows by 38 pc to Rs 2.40 trn in 2017-18:PFRDA Chief
“We are still discussing about a guaranteed annuity product as there is a provision for the same in the Act. We will definitely come out with a product under this category,A guaranteed product would have lower returns than the normal product,’’ PFRDA chief said.
No proposal to replace National Pension System: Govt
“Representations have been received regarding the implementation of NPS which, inter alia, include the demand that the NPS may be scrapped and the government may re-introduce the old defined benefit pension system,” the minister added.
Cheer for employees as tax-free gratuity cap doubled to Rs 2 million
The legislation will enable the government to enhance the ceiling of tax free gratuity to Rs 2 million from the existing Rs 1 million for employees falling under the Payment of Gratuity Act.
New Tata Steel UK pension scheme to be set up after meeting minimum criteria
This is very good news for the 83,000 members who wanted to receive their benefits from the New Scheme and chose to switch to it,” said Alan Johnston, who will now act as chairman to the trustee of the New BSPS.
Revise meagre Rs 1,000 minimum pension in EPF Scheme:Parliamentary panel
The committee recommended that government undertake an assessment of the pension scheme with particular reference to the right of sustenance of the pensioners and based on the result, consider revision of the amount accordingly
Government working on national policy for domestic workers: Labour ministry
The policy has been hanging fire for nearly three years as it was to be presented before the Cabinet in 2015.
Among others, the policy envisages to make a provision for a minimum salary of Rs 9,000 per month, compulsory paid leave of 15 days in an year and maternity leave benefits to full-time domestic helps.
Working millenials not saving enough for their retirement
“While it could be assumed that millennials have plenty of time to save for retirement, they have to shoulder more responsibility than their parents and grandparents to do so, Compared to older generations, millennials are less likely to have employer-provided pension or defined benefit retirement plans. Additionally, millennials are likely to live longer,” said Rui Yao, associate professor at University of Missouri.
India needs to evolve into a pensioned and insured society: Arun Jaitley
PFRDA Chairman Hemant G Contractor said that his office is considering an auto enrolment system under the National Pension System (NPS) with an element of soft compulsion, in which all the employees working in government identified sector/industries in unorganised sector would be automatically covered unless they choose to opt out.