Survey rejects EPFO as pension regulator
Seven accused army personnel, including a major general and two colonels, escaped from any punishment even though a military court initially and a Central Bureau of Investigation inquiry found they were involved in the alleged crime.
India stands top among South Asian countries in pension coverage to its older people, according to a joint report by the World Bank and the Organisation for Economic Cooperation and Development.
Rescue teams on Friday used GPS coordinates from aerial drone pictures and cell phones, including the last location of people who lived in the landslides-hit areas of Wayanad to help locate survivors, amidst accelerated search operations after the completion of the 190-foot-long Bailey bridge by the Army.
With the government all geared up to open up the pension sector, Dutch financial powerhouse ING Group on Thursday expressed its desire to foray into the long-term savings business but sought easy entry norms.
The pension reforms Bill is likely be passed with the Bharatiya Janata Party (BJP) deciding to support it in the parliamentary standing committee. The Bill has been pending since 2005. Its revised version was tabled in the Budget session of Parliament this year.
PFRDA will invite bids to appoint pension fund managers.
Concerned over the problems of ageing population world over, India on Saturday wanted comprehensive pension reforms in both developed and developing countries as the challenges were similar.
Interim pension regulator Pension Fund Regulatory and Development Authority has appointed National Securities Depositories Ltd as an agency to track the pension records of those under the new pension scheme.
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.
Building your Retirement Nidhi is your Karmayoga, ensuring a Golden Yug where you can truly enjoy the fruits of your labour, says Vatsal Ramaiya as he explains how Rs 15,000 per month can help build a Rs 7 crore corpus.
It isn't easy being a retired person. With some banks already cutting down the rate of return on fixed deposits offered to senior citizens and the Union Budget rationalising dividend taxation on monthly income plans, the higher returns and tax benefits they enjoyed are already gone.
The operationalisation of the new pension scheme, scheduled to have started from April, is to be delayed as the appointment of fund mangers is being deferred till July.
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.
Te Congress slammed the Centre's order, alleging that Prime Minister Narendra Modi wants to politicise employees on an ideological basis.
Parliamentary Affairs Minister Ananth Kumar told the Lok Sabha that the issue of perks and pensions to MPs are given as per provision of the law and it is in the exclusive domain of Parliament.
The finance ministry on Wednesday allowed all private sector banks to participate in government-related business, like collection of taxes. pension payments and small savings schemes. At the moment, only few large private sector are allowed to conduct government-related business.
The index value fell mainly due to the introduction of Worldwide Governance Indicators.
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.
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.
Defence Minister Manohar Parrikar said most of the rest will get their new pension by Holi.
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.
States like Uttar Pradesh, Uttarakhand, Gujarat, Odisha, Madhya Pradesh and Chhattisgarh had on Friday announced similar incentives.
BCCI president Sharad Pawar said they would get Rs 25,000 per month.
The decision to suspend this benefit will hit 32 lakh pensioners.
The Pension Fund Regulatory and Development Authority (PFRDA) has sought income tax exemption for the New Pension Scheme at par with other schemes like Public Provident Fund (PPF).
Amid differences among allies, the government today deferred a decision on the changes in the crucial Pension Fund Regulatory and Development Authority Bill, 2011.
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.
The CAT passed the order on a petition filed by V T Prabhakaran, the retired scientist of Indian Agricultural Statistics Research Institute, challenging departmental proceedings and withholding of arrears benefit that was due to him after he retired on February 2009.
The Union ministers and farmer leaders had met earlier on February 8, 12 and 15 but the talks remained inconclusive.
The next government in these states may find it tough to push economic growth through long-term reforms, which would be necessary.
Employees' Provident Fund Organisation has been allowing members to contribute more than mandatory amount towards their pension account.
The tribunal passed the order while hearing a bunch of petitions from the employees of Delhi Transport Corporation, seeking pension from the corporation which was denied to them after they had opted for VRS between 1993 and 1995.
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.
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.'
From April 1, subscribers will be able to change investment option & asset allocation twice a year, instead of once. Use greater flexibility offered by pension scheme judiciously.
Finance Minister P Chidambaram on Tuesday asked chief ministers to carry forward pension reform as the liabilities of both the Centre and states was expected to cross a staggering Rs 100,000 crore
Chief of Army Staff General V K Singh Sunday hinted at implementation of one rank one pension and said all information regarding ex-army men would be collected and their problems would be sorted out.
