The retired armed forces personnel's long-pending demand for "one rank, one pension" got backing of a Rajya Sabha committee on petitions in a report tabled early this week, asserting that the financial liability of Rs 1,300 crores is not very big amount to deny the parity in pension.
Ask your HR department for details about the fund, trustees and returns
24 hours before campaigning ends in Thiruvanathapuram, Archana Masih/Rediff.com discovers Shashi Tharoor and his BJP rival Rajeev Chandrasekhar are busy getting their message across to voters.
Ex-servicemen are unhappy with the pension hike announced by government saying it amounted to "wrong and deceitful" treatment of their long-pending 'One Rank One Pension' demand and vowed to continue struggle for their rights.
CPPIB, which started investing in the country in 2009, has invested in Kotak Mahindra Bank, L&T Infrastructure Development Projects, online education firm Byju's, energy company ReNew Power, logistics firm Delhivery, among others.
NPS still has critics despite being in business for a decade and mopping Rs 24,000 crore as of 2013-14.
Signalling both change and continuity, India's new government, headed by Prime Minister Narendra Modi for a third consecutive term, got into work gear on Tuesday with cabinet ministers and ministers of state filing into their respective offices to assume charge.
Most mutual fund players and life insurance companies are planning to bid for appointment as pension fund managers for all citizens after the Pension Fund Regulatory and Development Authority (PFRDA) today decided to seek expression of interest from prospective fund managers.
The pension bill is listed in the name of Finance Minister Pranab Mukherjee in the agenda papers of the Lok Sabha for Wednesday.
The decision, likely to benefit around three million defence pensioners, will come into effect from 2014-2015.
Short-term government bonds fell behind longer-dated securities in demand this month so far due to a liquidity crunch in the banking system and expectations of a delay in a rate cut, said market participants. Investors have favoured longer-tenure government bonds, or g-secs, with insurance companies and pension funds leading the charge by stocking up on those with maturities of 30 years and more. Preference for longer-term securities was strengthened by the conclusion of the borrowing programme, which compelled institutional investors to fulfil their requirements in the secondary market.
Positive return guarantee but with conservative bias; rider to check insurer hopping by customers.
An increase in the farmer income support scheme PM Kisan Nidhi, the introduction of a 'robot tax' to fund reskilling of people who lose their jobs to artificial intelligence (AI), and a reduced income-tax (I-T) to bring relief to the middle classes - these are some of the items in the Budget wish list submitted by Sangh Parivar affiliates to Finance Minister (FM) Nirmala Sitharaman. Representatives of the affiliates of the Rashtriya Swayamsevak Sangh (RSS), such as the farmer organisation Bharatiya Kisan Sangh (BKS); trade union Bharatiya Mazdoor Sangh (BMS); Laghu Udyog Bharati, which works for micro and small industries; and Swadeshi Jagran Manch (SJM), which works on economic and policy issues, met the FM and other officials over the last couple of weeks as part of the pre-Budget consultations.
Jannayak Janta Party chief Ajay Singh Chautala on Wednesday said his party worked with full honesty to fulfil the 'gathbandhan dharma' over the last four and half years of the alliance and his party was never power hungry.
A formal sector worker can contribute towards pension scheme till the age of 58.
Defence Minister Manohar Parrikar adds that the matter will be resolved within two months.
The government on Wednesday announced that dearness allowance for govt employees has been hiked to 6 per cent.
With a large number of Indian youth aspiring to work in the railways, delays in filling up railway job vacancies were a point of criticism against the BJP in the run-up to the elections.
'Barring a temporary blip where stocks fell on verdict day, we are back to all-time highs.'
According to sources, the proposal is listed in the agenda of the meeting of the Union Cabinet scheduled for Friday.
'Filing a nil ITR serves as a formal declaration to the tax authorities that your earnings fell below the taxable threshold in the given financial year, and you had no tax liability during that period.'
The Pension Fund Regulatory and Development Authority will consider a proposal to manage the pension funds of companies at its board meeting on Wednesday, extending its role from being manager of individual pension plans.
Finance Minister Jaswant Singh is likely to trigger off pension reforms for the unorganized sector in this Budget by exempting tax on a standardized pension policy, which could be sold by insurers at a meager price.
The Union ministers and farmer leaders had met earlier on February 8, 12 and 15 but the talks remained inconclusive.
Pension plans purport to provide for an individual at a stage when he/she is presumed to be inept of earning his/her livelihood. Hence the savings need to be planned, managed and executed with an extra degree of caution.
These are market-linked pension products offered by life insurance companies. These plans are for those looking for long-term retirement plans or investment options.
Pensions as a percentage of total wages and other allowances paid to government employees, defence and railway personnel in 2009-10 are expected to be 43.77 per cent, down from 48 per cent a year ago. In 2007-08, this ratio was 50.49 per cent. While the increase in expenses due to salaries and pensions have been attributed to the SPC recommendations, experts are not sure why pensions as a percentage of total salaries have been decreasing over the years.
The FDI in pension sector would move in tandem with the insurance sector, official sources said, adding that the revised norms would be incorporated in the Pension Fund Regulatory Authority Bill expected to be introduced in Parliament during the upcoming Budget session.
If you work for 30 years, a two per cent difference in pension returns can reduce your final retirement nest egg by 40 per cent. The Rs 9-trillion National Pension System (NPS) seems to be delivering incrementally higher returns than the twice-as-large Employees' Provident Fund Organisation (EPFO), shows a Business Standard analysis of data over the last seven years for the two retirement fund bodies. An investor who put in Rs 100 in retirement savings seven years ago would have seen her NPS nest egg grow to Rs 182 by 2023, according to the analysis based on the Pension Fund Regulatory and Development Authority's recently released Handbook of National Pension System Statistics 2023.
A Parliamentary panel that went into a Bill to create a pension fund regulator has favoured 26 per cent FDI in the sector, but found many lacunae in the legislation.
The next government in these states may find it tough to push economic growth through long-term reforms, which would be necessary.
Compulsory retirement is part of a half-yearly exercise now for cases where government wants to weed out officers, but without taking the disciplinary proceedings route.
Prez said basic pension of ex-servicemen of the Indian Army has increased by 2.57 times as compared to pension of December 31, 2015.
Public Provident Fund should be phased out over a period of time after the introduction of the new pension scheme proposed by the government, the interim Pension Fund Regulatory and Development Authority chairman D Swarup said on Saturday.
Government said on Tuesday subscribers under the New Pension System will have a choice to invest in fixed income instruments and equity.
