Furnishing of Aadhaar is still mandatory for final settlement of pension
Let's decode how EPS works, who qualifies, and how pensions are calculated, using simple examples for different salary levels.
India's largest retirement fund manager, the Employees' Provident Fund Organisation (EPFO), is enhancing its investment governance and fund management practices, following the Reserve Bank of India's recommendations.
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.
'These changes are expected to eliminate many data-entry problems that make the return filing process cumbersome in the current system.'
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.
AIADMK general secretary Edappadi K Palaniswami has announced a series of welfare measures, including free refrigerators for rice ration cardholders, if the party wins the 2026 Assembly election in Tamil Nadu.
The proposal is currently with the finance department and is expected to be placed before the Cabinet in the coming days.
TVK chief Vijay has released his manifesto for the Tamil Nadu Assembly elections, focusing on women's welfare, education, agriculture, and job creation.
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.
Actor-politician Vijay's TVK party is likely to form the government, bringing focus to their election promises, including gold for marriage, financial assistance for women, and job creation.
Around 20 lakh pensioners to benefit from govt new pension scheme.
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 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 withdrawal right is hemmed by many conditions.
TVK founder Vijay, upon becoming Chief Minister, approved free electricity units and special forces for women's safety and anti-drug efforts. He pledged a commitment to secularism and social justice, asserting his authority as the sole power centre.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
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.
BJP MLA Dhirendra Singh has urged the Uttar Pradesh government to formulate a comprehensive policy covering education, healthcare, housing and social security for labourers.
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.
Delhi University has directed St Stephen's College to halt the absorption of former principal John Varghese into the English department, citing violations of UGC regulations and procedural errors.
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.
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.
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.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries
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.
According to sources, the proposal is listed in the agenda of the meeting of the Union Cabinet scheduled for Friday.
Employees' Provident Fund Organisation has been allowing members to contribute more than mandatory amount towards their pension account.
India Post is reinventing itself from a traditional mail service into a modern logistics, e-commerce, and real estate powerhouse. Several post offices situated inside major university campuses, called Gen Z post offices, have received a facelift, with cafe-like decor and wi-fi availability.
There are seven potential buyers, ranging from the Port Talbot steelworks' management to the UK steel industry investors Liberty House
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.
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.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries
Investors should quiz them to understand the product, which options to invest in, and how to get the final payout
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.
"Taxpayers with income from shares, mutual funds, crypto, ESOPs, or derivatives often incorrectly use ITR-1 instead of ITR-2 or ITR-3."
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.
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.
