Pension

LIC to start selling 7.40% govt's pension scheme from tomorrow

Indian News       May 25, 2020

  Mumbai: The Life Insurance Corporation (LIC) will launch the modified Pradhan Mantri Vaya Vandana Yojana on Tuesday. The plan offering an assured rate of return of 7.40 per cent will be available for sale for three financial years i.e. upto 31st March, 2023. This scheme...

Over 50% of urban Indians feel COVID-19 situation getting worse

Facts       May 21, 2020

  Mumbai: More than half of Indians think that the coronavirus pandemic in the country is getting worse as the country has entered the fourth phase of lockdown to contain the spread, a survey has revealed.   According to market research and data company YouGov''s ''global COVID-19...

Germany must stabilise social security system with cash injection: officials

International News       May 14, 2020

  BERLIN: Germany will have to stabilise its social security system with cash injections to cushion the effect of coronavirus on health, the labour market and pensions, officials said on Thursday, an effort experts estimate could cost many billions of euros.   The German economy, Europe’s largest,...

Managing Millennial Mindset

Articles       May 14, 2020

  Capgemini and Efma’s World Insurance Report 2020, published today, reveals that consumers of all ages are adopting a ‘millennial mindset’, and increasingly trusting their own research through various channels to source information and purchase insurance products themselves. Consumers are turning to non-traditional players such as...

LIC's P&GS vertical clocks Rs1,26,749 cr of prm in FY2019–20,settles 2.03cr maturity and money back claims & annuities

Indian News       Apr 27, 2020

  Mumbai: The IPO bound Life Insurance Corporation, India’s largest life insurer, has achieved its highest number of policies for the last six years in 2019-20. Individual New Business performance of the corporation as at March 2020 has shown impressive figures of 2.19 crores in number...

AUM under National Pension Scheme, Atal Pension Yojana touch Rs 4.17 lakh cr: PFRDA data

Indian News       Apr 13, 2020

  New Delhi: The total assets under management of National Pension Scheme (NPS) and Atal Pension Yojana (APY) touched Rs 4.17 lakh crore with a subscriber base of 3.45 crore as of March 31, 2020, according to data released by Pension Fund Regulatory and Development Authority...

IFRS 17 to be implemented from Jan 1st, 2023:IASB

International News       Mar 17, 2020

  London: Finally,the International Accounting Standards Board (Board) on Tuesday has decided that the effective date of the Standard will be deferred to annual reporting periods beginning on or after January 1st,2023. The Board also decided to extend the exemption currently in place for some insurers...

EPFO loweres interest rate on employee provident fund to 8.5%

Indian News       Mar 05, 2020

  New Delhi: Employees Provident Fund Organisation (EPFO) on Thursday lowered the interest rate on deposits to 8.50 per cent for the current financial year (FY20) from 8.65 per cent in 2018-19.   The lowering of interest rate would mean that salaried employees would earn lower returns...

Use of non-derivative financial instruments to insurance contracts with direct participation features now allowed:IASB

International News       Mar 02, 2020

  Singapore: The International Accounting Standards Board (or Board) met in London on 25th February to further discuss items related to the Exposure Draft (“ED”) Amendments to IFRS 17, published in June 2019.   The Board confirmed there would be no change to the level of aggregation...

Andhra Pradesh govt disburses pensions to 59 lakh people at their doorsteps

Indian News       Mar 01, 2020

  Amaravati: The Andhra Pradesh government on Sunday claimed to have set a new record by door-delivery of social security pension to 58.99 lakh poor people in the state.   As part of the YSR Pension Kanuka programme, the YSR Congress Party (YSRCP) government undertook the massive...