The proposal has been discussed by Sebi's Committee on Rationalisation of Financial Resources, which favours setting up such a fund.
The report mentioned that the government spends 2.2 per cent of the GDP on pension bill.
'Younger employees, who tend to have a higher risk appetite, will find NPS advantageous due to the potential gains from equity markets over time.'
The government on Saturday announced a string of measures, including a pension for dependents of those having lost their lives due to COVID-19, among other benefits for the families who lost their earning members to the pandemic.
With EPFO capping the contributions to your pension scheme, you could look at other pension plans.
The long-awaited Pension Bill to set up a regulator and manage the new pension scheme for government employees is likely to come up before Parliament in the forthcoming session beginning May 10.
A few days after the Cabinet cleared the new pension scheme for government employees, Labour Minister Sahib Singh Verma on Wednesday expressed concerns over it, even as he said his ministry had no objection to the proposed scheme.
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.
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.
Railway employees will take a final call on whether to go on a general strike to press for their 36-point charter of demands including jobs for wards of employees on VRS.
The BJP also announced a Rs 5 meal scheme for all, named after religious guru Anukul Chandra, and setting up of a Regional Institute of Medical Sciences hospital in Agartala.
The pensioners have been agitating for last 18 years
Expatriates working in India and some Indians working abroad for an Indian employer are required to make mandatory contributions to the Indian government's statutory provident fund.
Retirement fund body EPFO's trustees on February 5 will decide on amending its scheme to provide a minimum monthly pension of Rs 1,000, which will immediately benefit its 27 lakh pensioners.
The government on Tuesday said it was not considering 100 per cent foreign direct investment in the pension sector.
The retirement fund body EPFO is likely to announce the rate of interest on employees' provident fund (EPF) deposits for 2022-23 at its two-day meeting beginning Monday. EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its about five crore subscribers, from 8.5 per cent in 2020-21 in March 2022. This was the lowest since 1977-78, when the EPF interest rate stood at 8 per cent.
EPF nominations decide inheritance -- here's what happens if you don't file.
SBI unions walk out of pact saying interests not served
The pension regulator, the Pension Fund Regulatory Development Authority, is taking various steps to boost the numbers, cairman D Swarup tells Vrishti Beniwal in an exclusive interview
Ask rediffGURU Reetika Sharma your insurance mutual fund and personal finance-related questions.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
From appointment letters becoming mandatory to gig workers receiving social security to enhanced rights for women and contract labour, the changes reflect India's attempt to balance ease of doing business with stronger worker welfare.
Rajasthan is reeling under a huge financial burden with the state's debt having gone beyond Rs 5.59 lakh crores. Rajasthan has increased expenditure on education by 203.4 percent, by 105.4 percent on health, by 227.14 percent on housing. Its expenditure on social welfare schemes has increased by almost 2,475 per cent.
Finance Minister Nirmala Sitharaman on Saturday said the government will arrange identity cards and registration on the e-Shram portal to assist 1 crore gig workers. Presenting the Union Budget 2025-26, the finance minister also said a scheme for the socio-economic upliftment of urban workers will be implemented.
The government is considering a proposal to extend Employees Provident Fund Scheme to all companies with over 10 employees, the Parliament was informed.
Tough opposition from Left parties notwithstanding, the government has opened a window of opportunity for foreign companies for managing pension funds of central and state government employees.
Common citizens should not suffer, the Bombay high court remarked on Friday while asking the Maharashtra government what steps it was taking to "curb the menace" of illegal strikes, amid an agitation by state employees.
NPS still has critics despite being in business for a decade and mopping Rs 24,000 crore as of 2013-14.
Government employees and teachers affiliated with pro-Left unions today went on a day-long nationwide strike demanding revamping of the new pension scheme, announcement of interim relief and lifting the ban on recruitment. The demands include regularisation of extra-departmental employees, ban on contract appointments and revision of price index among other things.
The first of the six pension funds to be set up in the country is to be launched on October 2, well in time to operationalise the new pension scheme for government employees joining after October.
Thousands of public sector bank employees across the country now have reason to rejoice.
A federation of various railway employee unions has decided to launch a countrywide 24-hour hunger strike on Tuesday to demand better package for railway employees and scrapping of new pension scheme.
'They (government) are trying to create market for pension products'.
Most think tax-saving deductions exist only in the old regime. But the New one quietly retains 40+ ways to ease your tax load
If you were to choose one of these as long term investment (at least 15 years), which one would you opt for? What should be the reasons for you to choose one of these? Here is a comparison of these schemes based on certain important factors
While reasonable safeguards should be built in, there can't be restrictions on the individual's right to leave her/his money to whoever s/he wants, notes Harsh Roongta.
