Employees' Pension Scheme has been asked to fold up and hand over subscribers to National Pension System
The protesters who had gathered under the banner of the Joint Forum for Restoration of Old Pension Scheme and National Joint Council of Action said they were worried about their post-retirement future.
Giving a Diwali gift, the government has decided to implement the old pension scheme, Chief Minister Bhagwant Mann announced after a meeting of the state cabinet in Chandigarh.
Of the Rs 31,820.80 crore allocated to central sector schemes and projects, only Rs 11,868.05 crore was utilised, according to the revised estimates.
There are over 1.36 lakh employees, including employees and pensioners under the new pension scheme.
A 10-part series that explains all you want to know about how India's EPF turns a slice of your monthly salary into long-term savings, pension, and life insurance.
"The pension amount is too meagre. Even in some cases it is less than Rs 200 per month. There is serious discontent and industrial unrest among the workers, " HMS secretary A D Nagpal said in a letter to the labour minister M Mallikarjun Kharge. Asking the government to address the anomalies in the scheme, Nagpal demanded that pension amount should be reasonably increased and the benefits which were withdrawn should be restored.
It has the scope to offer better returns to savers and help government finance important projects.
The National Pension System is applicable for government employees joining the service after April 1, 2004. It was based on the premise of contribution rather than defined benefit applicable for employees prior to the NPS.
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.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
Who pays what into EPF, EPS, and EDLI -- the 12% math explained.
The Supreme Court on Tuesday upheld the validity of controversial government pension scheme by which a certain percentage of an employer's contribution to the provident fund is diverted for pension purposes.
Priyanka Gandhi Vadra on Friday promised to restore the old pension scheme for government employees in Himachal Pradesh if the Congress was voted to power in the assembly elections.
Part of the dues has been pending since 1995-96 - the inception year of the Employees' Pension Scheme administered by the EPFO. The Centre also owes the EPFO more than Rs 1,000 crore towards the minimum pension scheme it had notified in September 2014.
Let's decode how EPS works, who qualifies, and how pensions are calculated, using simple examples for different salary levels.
'These changes are expected to eliminate many data-entry problems that make the return filing process cumbersome in the current system.'
Failing to get Election Commission's nod for campaigning and undertaking preparatory activities for launch of the scheme on April 1, the government on Thursday announced its decision to defer extension of the scheme to other citizens. The Centre has already implemented the new pension system for its employees who joined on or after January 1, 2004.
The government will operationalise the interim Pension Fund Regulatory and Development Authority and come up with the new pension scheme for about 1,00,000 employees from January 1, 2004.
A record amount of pension money may be finding its way into the stock market, if buying figures in the National Stock Exchange (NSE) data are any indication. Category inflows touched Rs 37,409 crore for the three months ending September 2025, shows an analysis of NSE data.
The change in the government's engagement with the economy's need for reforms is more nuanced than how analysts have so far perceived it, points out A K Bhattacharya.
The New Pension Scheme is one of the more ambitious programmes tried out by the government. If successful, it has the power to transform India's savings habits.
The Unified Pension Scheme (UPS) adoption rate has risen to over 4.35 per cent, with more than 100,000 people out of 2.3 million eligible individuals opting for it, Pension Fund Regulatory and Development Authority (PFRDA) chairman S Ramann said in an exclusive interview with Business Standard on Monday. He also said that six states had approached the PFRDA for help in adoption of the scheme.
The most common mistake is investing without assessing suitability and long-term implications.
The Employees' Provident Fund Organisation (EPFO) board has approved liberalised part withdrawals for subscribers, allowing up to 100 per cent EPF withdrawal, and rolled out the 'Vishwas Scheme' to reduce litigation through rationalised penal damages.
India's market regulator is moving ahead to include real estate investment trusts (Reits) in benchmark indices in a phased manner, Sebi chief Tuhin Kanta Pandey said, while asserting that the regulator was working to strengthen the link between infrastructure building and the markets.
EPF doesn't just build your retirement fund -- it also provides free life insurance up to Rs 7 lakh under the EDLI scheme.
The Employees' Provident Fund Organisation (EPFO) on Monday set May 3 as the deadline for subscribers to opt for a higher pension. The Supreme Court on November 4 allowed another change for employees who were existing EPS members as on September 1, 2014, to contribute up to 8.33 per cent of their actual salaries - as against 8.33 per cent of pensionable salary capped at Rs 15,000 a month - towards pension. The apex court gave a four-month window to enable opting for higher pensions.
'The tragedy underscored 'serious and widespread' weaknesses in the EPFO's monitoring system and its ability to detect and act against defaulting establishments.'
Now a multi-dimensional rate structure has been created for CGHS cardholders in all categories based on four different parameters, with semi-private rooms forming the base for package rates.
The order also provides that the field office will incur expenditure on the facilitation function under the head of publicity.
Furnishing of Aadhaar is still mandatory for final settlement of pension
Erroneous payments were made to 77,980 women and 12,431 men, many of whom did not qualify for the scheme's benefits.
Actor-politician Vijay held his first public meeting in Puducherry, criticising the central government for neglecting the union territory's demand for statehood and praising the local government's impartiality. He also targeted the DMK government in Tamil Nadu, suggesting they could learn from Puducherry.
The 'restore old pension' campaign is being spearheaded by the National Movement for Old Pension Scheme (NMOPS), a federation with over 13 lakh government employees as its members.
The proposal is currently with the finance department and is expected to be placed before the Cabinet in the coming days.
The committee has termed the Employee Provident Fund Organisation's data on number of pensioners subscribed to the Employee's Pension Scheme, 1995 as 'inflated and imaginary'. Top officials of the labour ministry and the provident fund organisation were unable to explain how calculations for pensionary liability were arrived at without knowing the number of pensioners in the country.
'The new Bill introduces no policy or rate changes, leaving financial planning strategies largely unaffected.'
'The considerations for choosing between the old and new tax regimes remain essentially unchanged.'
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances