Faced with a deadlock over the Pension Fund Regulatory and Development Authority Bill due to stiff opposition from the Left parties, the government is contemplating to bring a separate Bill on pension funds for private sector employees.
'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.'
Meeting a long-pending demand of over a crore defence veterans and 12 lakh serving jawans, the government on Monday substantially increased the pension of ex-servicemen.
The draft regulations for the new pension scheme likely to be out by September first week is expected to recommend fixing minimum base capital for pension fund management companies less than that stipulated for insurance companies.
EPFO has an ambitious plan to settle the claims within few hours after filing of application
Pension plans by mutual funds have a three-year lock-in like ELSS.
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Fund managers will be given more flexibility to invest in corporate bonds.
The New Pension Scheme (NPS), launched by the government, was extended to all citizens of the country from May 1, 2009. Under the scheme, 50 per cent of the funds is allowed for investment in the stock markets.
Finance Minister P Chidambaram has announced that the government will soon notify an interim investment pattern for pension funds, pending the passage of the Pension Fund Regulatory and Development Authority Bill in Parliament.
Twenty-six per cent FDI cap in sector is not incorporated in Bill as govt retains flexibility.
Congress Vice President Rahul Gandhi backed the long-pending demand of 'One Rank, One Pension' for former servicemen assuring them that he will make all efforts to ensure it is met at the earliest.
The government on Tuesday said it was not considering 100 per cent foreign direct investment in the pension sector.
Here is the complete list of ministers in Modi 3.0 and their portfolios:
Days after protests by war veterans, Prime Minister Narendra Modi on Saturday said that his government was committed to One Rank One Pension.
In a move that has shocked the friends of Ruchika Girhotra, the Central Administrative Tribunal has restored the pension of former Haryana director general of police S P S Rathore, who was convicted of molesting her. A division bench of the Central Administrative Tribunal headed by Justice S D Anand has ordered the restoration of the pension of Rathore, which was stopped by the Centre in June last year. Rathore, 69, was awarded six months' rigorous imprisonment.
The battle for Corus is expected to take a decisive shift this week, with the pension trustees of the Anglo-Dutch steel company expected to meet the representatives of Brazil's CSN to understand its commitment to the workers' pension.
Pension schemes across the world are coming under greater pressure due to low returns on investments and public reluctance to join them, chairman of Insurance Regulatory and Development Authority N Rangachary said.
The government plans to come up with a contributory pension scheme for its employees who joined service after October 2002, and set up a National Tax Tribunal to speed up settlement of disputes.
Pensioners to get 40% raise, more gains for octogenarians. The Union Cabinet has accepted this proposal, along with other recommendations of the Sixth Pay Commission on pension benefits for the estimated 3.84 million central government pensioners at a meeting here on Thursday.
Using the Mahabharat reference as a leitmotif, Leader of Opposition in the Lok Sabha Rahul Gandhi on Monday claimed that an atmosphere of fear prevails all around with a group of six trapping the entire country in a 'chakravyuh' he promised would be broken by the INDIA bloc.
Pension is a regular (normally monthly) payment that a person gets when he/she has retired from a job. This regular payment is obtained from an investment fund to which that person, or his/her employer, contributed during the time the person was working.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
The Bombay high court has ruled that trained teachers should be given pension applicable to employees in their grade as it would be illegal and unjustified to give them pension of untrained teachers.
All pre-election opinion polls indicate a strong majority for the Opposition Labour Party, forcing the incumbent Sunak-led Conservatives on the back foot to caution voters against handing a "supermajority" to the Keir Starmer-led Labour.
India has allocated Rs 1.72 trillion, or 27.67 per cent of the total defence budget to cater to modernisation of the country's arsenal. Modern militaries spend up to 50 to 60 per cent of their total defence budget so that they go into combat with superior weaponry and equipment.
This mindless medley of products does not create choice.
The government today constituted a five-member interim Pension Fund Regulatory and Development Authority, which will come up with guidelines for a new pension system from January 2004.
Tax deduction limit up Rs 50K for investment in pension fund.
The pension sector is expected to become the largest financial sector in India in the next five years and there will be a separate law for the sector, a top finance ministry official said on Tuesday.
A new kind of pension-cum-savings scheme is on the anvil, which would provide a safety net as well as liquidity to the holder.
The fee for fund manager will change. As of now, they get 0.0009 per cent of the funds managed by them.
Former Indian Air Force chief Air Chief Marshal R K S Bhadauria (retired) joined the Bharatiya Janata Party on Sunday and praised Prime Minister Narendra Modi's leadership and the steps taken by his government to modernise and strengthen the armed forces
NPS aims at ensuring financial security to every citizen by encouraging them to start contributing towards the old age saving.
The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
