The Unified Pension System (UPS), approved by the Union Cabinet on Saturday, is "fiscally prudent" as it will be funded within the Centre's fiscal projections, according to T V Somanathan, the Cabinet Secretary-designate. Speaking to Business Standard immediately after the Cabinet nod, former finance secretary Somanathan, who headed the committee set up in March 2023 to review the National Pension System (NPS), said the UPS will not postpone pension expenditure as it will be contributory and financed each year.
CPGRAMS -- an online platform available to citizens 24x7 to lodge their grievances to public authorities on service delivery -- has existed for close to two decades. But it has never been this active, points out Tamal Bandyopadhyay.
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.
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.
India's equity markets may have expanded rapidly, but initial public offerings (IPOs) are increasingly becoming exit vehicles for early investors rather than as engines for raising long-term capital, a shift that undermines the spirit of public markets, Chief Economic Advisor V Anantha Nageswaran warned on Monday at a CII event.
Employees' Pension Scheme has been asked to fold up and hand over subscribers to National Pension System
The government on Tuesday announced withdrawal of the 2 per cent equalisation levy or digital tax on overseas e-commerce supplies.
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.
When we look at the pension expenditure of the states, so far, there has been no gain from the NPS reform. Pension expenses as a share of total state revenue expenditure rose from 4% in 1991-1992 to 10% at the time of the NPS reform, and have risen further to about 12%, observes Ajay Shah.
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Denmark has been rated as the country with the best retirement system in the world.
Many affluent young people are first-generation wealthy. They have limited financial literacy, lack quality financial guidance or role models, and often fall prey to mis-selling. This makes them hesitant to invest in high-return assets like equities.
'Choose an FD tenure that provides a balance between returns and the horizon for which you can invest.'
If you work for 30 years, a two per cent difference in pension returns can reduce your final retirement nest egg by 40 per cent. The Rs 9-trillion National Pension System (NPS) seems to be delivering incrementally higher returns than the twice-as-large Employees' Provident Fund Organisation (EPFO), shows a Business Standard analysis of data over the last seven years for the two retirement fund bodies. An investor who put in Rs 100 in retirement savings seven years ago would have seen her NPS nest egg grow to Rs 182 by 2023, according to the analysis based on the Pension Fund Regulatory and Development Authority's recently released Handbook of National Pension System Statistics 2023.
At a time when banks are finding it challenging to mobilise resources, State Bank of India (SBI)-the country's largest lender-has devised a three-pronged strategy to boost deposit accretion. First is an aspirational product that promises to make depositors lakhpatis by helping them grow their deposits to Rs 1 lakh through recurring deposit (RD) schemes.
France today increasingly resembles the Italy of the past, when governments fell with bewildering regularity, prime ministers came and went in rapid succession, and political instability became the norm rather than the exception, point out Krishnan Srinivasan and Manoj Mohanka.
'The increase in the limit for TDS on interest to Rs 1 lakh will ensure greater cash flow in the hands of senior citizens.'
Implications for capital gains, wealth taxes, and investment strategies require careful consideration, notes Anil Rego, founder and CEO, RightHorizons.
The old tax regime remains unchanged. 'Taxpayers opting for it will continue to follow the existing slab rates and deductions.'
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
Why did the political system in the country react to these two decisions of the Modi government in a diametrically opposite manner? asks A K Bhattacharya.
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.'
Prime Minister Shigeru Ishiba's sudden resignation after only a year in office has thrown Japan into political turmoil, raising doubts about how the country will handle economic and regional challenges, observes Dr Rajaram Panda.
Pakistan on Tuesday increased its defence budget by 20 per cent, allocating PRs. 2,550 billion ($9 billion) for the fiscal year 2025-26, amid tensions with India.
'Today, let us reaffirm our commitment to strive to realise Gandhiji's dreams. His watchwords, truth and nonviolence, will continue to remain relevant for the whole world. He also taught us that rights and duties are but the two sides of the coin - indeed, the true source of rights is duty. Today we recall his lessons in compassion too - compassion not only for our human neighbours but also for our other neighbours, namely, flora and fauna, rivers and mountains.'
The self-employed should invest in the National Pension System, a government-backed, low-cost retirement avenue where they can choose the mix of debt and equity that is right for them.
Ramalingam Kalirajan dives into the specifics of NPS withdrawal rules to help you understand the conditions under which and when partial withdrawals are allowed.
The number of fresh formal jobs generated in a month increased to a seven-month high in April, signalling a recovery in the formal labour market in the country, according to the latest monthly payroll data released by the Employees' Provident Fund Organisation (EPFO) on Thursday. In April, the number of new monthly subscribers under the Employees' Provident Fund (EPF) sequentially increased by 18.77 per cent to 887,438 from 747,146 in March.
Equity-focused schemes may perform better in a bull market, while debt-oriented ones may offer greater stability during volatile periods.
'It would be reasonable to assume that Modi 3.0 would be more focused on projects and schemes which do not require any legislative change or which have the support of its coalition partners,' asserts A K Bhattacharya.
'Any earnings, regardless of location, will be subject to Indian income tax.'
'A large part of my effort will be solving issues for the whole of Sugar Land, all communities, all populations.'
'This year overall hiring has seen a slight improvement as compared to the dip seen during the last financial year.'
Public sector entities Life Insurance Corporation, UTI AMC, State Bank of India and Punjab National Bank are among the front-runners to become pension fund managers under the new pension system.
Seven public sector entities including the Life Insurance Corporation and State Bank of India on Friday submitted expressions of interest to the Pension Fund Regulatory and Development Authority
'The government has to explain (to the army, air force and navy chiefs) whether they want a punitive strike, a deep punitive strike, or whether they want limited war or an all-out war, will it be a circumscribed war or will it be a shallow attack along the border.'
'PPF carries minimal risk.' 'Its fixed-income nature allows investors to diversify their portfolios.'
'When we say we want to increase pension participation, do we want to increase participation through the savings route?' 'Or do we want people to save in specific pension products?' asks Renuka Sane.
'The adjustments (of tax slabs and standard deduction) will reduce the tax burden for salaried individuals with an income of around Rs 20 lakh by approximately Rs 18,000.' 'For non-salaried individuals with the same income level, the savings will be around Rs 10,000.'
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