Dr T V Somanathan is the first finance secretary to be appointed Cabinet secretary since 1985. His appointment at this juncture seems to carry much meaning for the forthcoming trajectory of reforms and restructuring of India's steel frame.
A retirement fund can be helpful for all age groups, but ideally one should start investing early to beat market swings and gain from compounding.
Called Default Option, it is a life-cycle fund under which the amount of money invested in equity would be more in the initial stages while in the later stages, more money would be invested in debt instruments.
Most insurers aren't comfortable with subscribing to the National Pension System as they see it as competition.
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.
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.
Ask your HR department for details about the fund, trustees and returns
He also said that the BJP's defeat in Faizabad seat of Ayodhya, where the Ram temple has been built, shows the wisdom of voters.
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 nature of war and its purpose remains unchanged. The change is in the character of war in terms of a man-machine mix, domination of sensors and certain automation of the tactics and methods of war, points out Colonel Anil A Athale (retd).
NPS still has critics despite being in business for a decade and mopping Rs 24,000 crore as of 2013-14.
The decision, likely to benefit around three million defence pensioners, will come into effect from 2014-2015.
Positive return guarantee but with conservative bias; rider to check insurer hopping by customers.
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.
Personal growth and self-discovery are significant factors in the rise of grey divorces, says relationship expert Kanchan Rai.
A formal sector worker can contribute towards pension scheme till the age of 58.
The number of fresh formal jobs generated in a month increased to a seven-month high in April, signalling a recovery in the formal labour market in the country, according to the latest monthly payroll data released by the Employees' Provident Fund Organisation (EPFO) on Thursday. In April, the number of new monthly subscribers under the Employees' Provident Fund (EPF) sequentially increased by 18.77 per cent to 887,438 from 747,146 in March.
Amid the Budget preparation, the revenue department is assessing the feasibility of further adjustments to maximise benefits for salaried individuals.
The government on Wednesday announced that dearness allowance for govt employees has been hiked to 6 per cent.
Defence Minister Manohar Parrikar adds that the matter will be resolved within two months.
According to sources, the proposal is listed in the agenda of the meeting of the Union Cabinet scheduled for Friday.
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 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.
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.
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.
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.
Invest in MFs for liquidity and choice of funds. Invest in NPS for the tax benefits, tax-free rebalancing, and for earmarked savings for retirement.
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.
Government said on Tuesday subscribers under the New Pension System will have a choice to invest in fixed income instruments and equity.
If you plan to buy a pension plan as a part of your tax-saving exercise, you need to wait.
