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 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.
Kerala, Tamil Nadu and West Bengal have been fiscally stressed for a considerable period of time, and there are no easy ways to mobilise revenues to meet the cost of the promised freebies, particularly in the prevailing difficult economic scenario, points out M Govinda Rao.
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.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries
The proposal is currently with the finance department and is expected to be placed before the Cabinet in the coming days.
The government has asked the Pension Fund Regulatory & Development Authority to open the retirement scheme--which has so far been confined to central government employees--to the self-employed and those in the unorganised sector.
An expert group has called for carving out two separate accounts -- PF and annuity -- in the employee provident fund scheme to meet the challenge of fund depletion in the pension scheme and introducing greater transparency for subscribers.
Around 20 lakh pensioners to benefit from govt new pension scheme.
The DMK party in Tamil Nadu has released its manifesto for the upcoming Assembly elections, promising a range of welfare measures focused on women, education, and economic development, including financial assistance and job creation initiatives.
Wing Commander Suresh Damodar Karnik (retired), hero of the 1971 war, has politely declined an invitation extended by Shiv Shahir Babasaheb Purandare for a function to be held on May 28 in the presence of Defence Minister Manohar Parrikar and Maharashtra Chief Minister Devendra Fadnavis.
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 Supreme Court on Friday upheld the validity of the Employees Pension (Amendment) Scheme of 2014 but quashed the threshold limit of Rs 15,000 monthly salary for joining the pension fund. The 2014 amendment had capped the maximum pensionable salary (basic pay plus dearness allowance) at Rs 15,000 per month. Prior to the amendment, the maximum pensionable salary was capped at Rs 6,500 a month.
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.
Political observers said the announcement assumes significance as the state prepares for the assembly elections, with political parties stepping up outreach to various community groups.
The Union finance ministry has rejected a proposal sent by the labour ministry to double the monthly minimum pension amount to Rs 2,000 under the Employee Pension Scheme (EPS). The Central Board of Trustees (CBT), the apex decision-making body of the Employee Provident Fund Organisation (EPFO), was apprised of the proposal's rejection during a meeting on Saturday. "According to the recommendations made by a highly-empowered monitoring committee constituted by the government, a proposal to increase the minimum pension under EPS from Rs 1,000 to Rs 2,000 per month, by providing additional budgetary support, was sent to the ministry of finance.
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 withdrawal right is hemmed by many conditions.
Remember, pension from EPS will be taxable at slab rate, reducing the post-tax income for people who remain in the higher tax brackets after retirement.
Replying to a Calling Attention Motion, labour minister Oscar Fernandes, however, said there will be no amendment to the Employees' Pension Scheme 1995 in the wake of Sixth Central Pay Commission as the two issues are not related. He said two committees, including one headed by a special secretary, have been set up to review the EPF scheme and ensure that it brings better benefits to the employees.
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.
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.
In the rush to complete tax-saving investments at the end of the financial year, many taxpayers choose instruments that do not match their long-term financial goals.
According to sources, the proposal is listed in the agenda of the meeting of the Union Cabinet scheduled for Friday.
EPF doesn't just build your retirement fund -- it also provides free life insurance up to Rs 7 lakh under the EDLI scheme.
Erroneous payments were made to 77,980 women and 12,431 men, many of whom did not qualify for the scheme's benefits.
Employees' Provident Fund Organisation has been allowing members to contribute more than mandatory amount towards their pension account.
With organisations like the Bharatiya Mazdoor Sangh, which is a front of the Rashtriya Swayamsevak Sangh, telling Finance Minister Nirmala Sitharaman they want OPS back, the government is in a bind, report Shiva Rajora and Aditi Phadnis.
There are seven potential buyers, ranging from the Port Talbot steelworks' management to the UK steel industry investors Liberty House
The most common mistake is investing without assessing suitability and long-term implications.
The Maharashtra cabinet on Thursday cleared a proposal that offers an option of availing the Old Pension Scheme (OPS) to the state government employees who joined the service after November 2005.
'The tragedy underscored 'serious and widespread' weaknesses in the EPFO's monitoring system and its ability to detect and act against defaulting establishments.'
Investors should quiz them to understand the product, which options to invest in, and how to get the final payout
Switching to the UPS could be a game-changer for your retirement planning, especially if you value guaranteed benefits and higher government contributions, observes Ramalingam Kalirajan.
The seventh annual valuation report of the employees pension scheme has disclosed a projected deficit of Rs 19,291 crore (Rs 192.91 billion) as on March 31, 2003, Lok Sabha was told on Monday.
'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.'
The new form does not require attestation by employer and can be submitted directly to the concerned EPFO offices
Raising social security pension amounts, increasing financial assistance given under the 'Rythu Bandhu' investment support scheme for farmers and providing LPG cylinders at Rs 400 each are some of the promises made by the ruling Bharat Rashtra Samiti for the upcoming assembly elections in Telangana.
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.
