Govt agrees to guaranteed returns if staff pay more premium; CITU stonewalls proposal.
Before opting for this scheme, consider how EPS is calculated.
The Rajya Sabha chairman asked him to authenticate his assertions and refused to accept newspaper clippings that the Congress leader showed to buttress his points.
The Left parties have no objection to the deployment of pension funds in the stock market so long as the funds are managed by public sector banks and financial institutions.
Even 65 years after India's independence, about 23,000 freedom fighters in Bihar continue to receive 'Swatantrata Senani Samman Pension' (Freedom Fighters' Pension).
'The lack of a majority isn't the issue. He has enough in 240, especially as none of his allies can pull down his coalition.' 'That's why he's started as if this were just another, normal term. That pretence is vital for him.' 'The change for Modi 3.0 comes not from numbers, but from the new environment of contestation,' points out Shekhar Gupta.
The pay panel had in November recommended 14.27 per cent hike in basic pay at junior levels.
Post your financial planning queries for rediffGURU and financial planning expert, Colonel Sanjeev Govila.
Officials said the broad objective of the study is to evaluate the extent to which the programme has achieved its aim and find out the factors responsible for its progress and suggest remedial measures needed to overcome the difficulties.
'The Emergency was a temporary affair. It was withdrawn after 20 months.' 'But we are in this situation for the last 10 years.' 'If the Emergency was jhatka, this is halal, slow killing.'
rediffGURU Samkit Maniar answers readers' personal income tax queries
Following recommendations from the Deepak Parekh-headed Expert Group and taking into account comments from the public, PFRDA has categorised NPS investments into three asset classes -- E (equity), C (corporate paper) and G (government securities).
This is because of a government order that RBI has no power to update pension of its employees. This has been a bone of contention between the government and the central bank for the past one year.
The Tribunal passed the order on a plea of a Delhi Transport Corporation employee, who alleged that he had not been given the pensionary benefits after he opted for voluntary retirement scheme and sought directions for relief. The CAT noted that the pension scheme was there as per the Central Civil Services (Pension) Rules and minimum incumbency of 20 years of service was required for a person to claim pension as a matter of right.
The revised bill will give statutory powers to interim regulator Pension Fund Regulatory and Development Authority to make it on par with other financial regulators -- Securities and Exchange Board of India, Reserve Bank of India and IRDA.
Lok Sabha Speaker Om Birla recognised Rahul Gandhi as the leader of opposition on Wednesday, a day after the Congress communicated its decision to name him for the position to the Lok Sabha Secretariat.
'Young investors with limited funds should ensure that investing in NPS does not crowd out their other, more liquid, investments.'
After the success of the National Highways Authority of India's (NHAI's) first infrastructure investment trust (InvIT) with foreign institutional investors, the Centre is working on a proposal to launch a fresh InvIT for national highways, where domestic retail investors can hold units of the trust
The number of American companies freezing their pension plan for employees are on the rise, as the corporates are looking for ways to bring down costs, says a survey.
Interim pension regulator PFRDA will launch from December this year its savings scheme, which aims to give greater returns on the deposits, and can be withdrawn fully.
Employees' Pension Scheme has been asked to fold up and hand over subscribers to National Pension System
'One Rank One Pension is needed immediately and more urgently for jawans and widows,' one elderly soldier tells Sudhir Bisht at Delhi's Jantar Mantar.
Trustees of Retirement fund body EPFO will decide tomorrow on amending the scheme to provide a minimum monthly pension of Rs 1,000, which will immediately benefit about its 28 lakh pensioners.
The Indian Banks Association has suggested certain alternative proposals on pension after meeting the representatives of United Forum of Bank Unions, general secretary of the All India Bank Officers' Association R J Sridharan said.
Earlier, the Indian Banks' Association has shown interest in the NPS for new bank recruits. Though no concrete decision has been taken so far. In the Budget tabled in Parliament, the government said that self-employed persons subscribing to the NPS would be subjected to tax only at the time of withdrawal.
Three Union ministers and farmer leaders will meet in Chandigarh at 6 pm to discuss their demands, including a legal guarantee for MSP for crops and farm debt waiver.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) will answer your personal finance-related questions.
pension plans apart from playing a significant role in retirement planning, also offer tax benefits under a dedicated section i.e. Section 80CCC
The new 'Form 5' has been brought for the benefit of pensioners and it will record all information on the basis of self-attestation by the individual concerned, said Sanjay Kothari, Secretary, Department of Administrative Reforms, Public Grievances and Pension.
The proposal aimed to provide pension for life to widows and persons with severe and multiple disabilities belonging to families below the poverty line, irrespective of age. Expenditure Secretary Sushma Nath argued that if there was no age cap, it would become "open ended" and "send the wrong message" to society. The Cabinet conceded Nath had a point and adopted the revised plan, which includes an age limit.
They said that massive public investment in infrastructure, social sectors and agriculture would generate employment and the Union Budget should give it a priority and allocate necessary funds for this.
'The actions of Indian monetary authorities will depend on how quickly they want the inflation to come down to 4 per cent.'
