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.
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.
There are over 1.36 lakh employees, including employees and pensioners under the new pension scheme.
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.
After a lacklustre start, the New Pension Scheme, a safety net thrown open to all citizens of the country in May this year, is slowly picking up with as many as 843 customers joining it in the first two and a half months.
It has the scope to offer better returns to savers and help government finance important projects.
Uttar Pradesh Chief Minister Akhilesh Yadav on Wednesday launched a unique pension scheme for the poor called the 'Samajwadi Pension' that aims to cover as many as 40 lakh people not covered under the existing 'Old Age', 'Widow' or 'Disabled' pension schemes.
The beneficiaries will get increased pensions of Rs 1,100 from July.
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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.
Total burden on the exchequer will increase by Rs 12,000 crore to Rs 87,217.50 crore for the year 2019-20.
Interim pension regulator PFRDA will come out with investment guidelines for its mega pension plan by the middle of this month.
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.
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.
Pension schemes across the world are coming under greater pressure due to low returns on investments and public reluctance to join them, chairman of Insurance Regulatory and Development Authority N Rangachary said.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
The New Pension Scheme (NPS), launched by the government, was extended to all citizens of the country from May 1, 2009. Under the scheme, 50 per cent of the funds is allowed for investment in the stock markets.
The central government has appointed India Invest Economic Foundation, a private agency, as consultant for operationalisation of new pension scheme by this month.
The revised DTC which will introduce several changes if implemented has brought New Pension Scheme under the tax exempt net. This new change will make NPS an attractive investment opportunity.
NPS Vatsalya offers a disciplined investment avenue that parents can use to create intergenerational wealth by contributing even small sums.
Officials said the broad objective of the study is to evaluate the extent to which the programme has achieved its aim and find out the factors responsible for its progress and suggest remedial measures needed to overcome the difficulties.
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.
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.
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The operationalisation of the new pension scheme, scheduled to have started from April, is to be delayed as the appointment of fund mangers is being deferred till July.
So, last year, the government decided to go ahead by allowing the NPS Trust to enter management agreements with fund managers. What benefits does the NPS offer? Who is eligible? Check it out.
Governments should move away from universal subsidies towards tightly targeted transfers, backed by stricter eligibility norms, sunset clauses and periodic audits to curb leakages and improve spending efficiency, a joint study by Asian Development Bank and PwC has recommended.
The INDIA bloc has released its manifesto for the Bihar assembly polls, promising jobs, restoration of the old pension scheme, and free power, among other things.
It, effectively, means that employees can invest more in 80C instruments. At present, employees claim tax benefits under Section 80CCD for contributions made towards NPS by both him/her and his/her employer.
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.
According to official statistics, half of India's GDP comes from as many as 420 million workers in the unorganised sector including street vendors, rickshaw pullers, construction workers, rag pickers, agricultural workers, among others. This massive workforce remains outside the purview of the formal banking and insurance industries.
Finance Minister Nirmala Sitharaman on Monday introduced the Taxation Laws (Amendment) Bill, 2025, which aims to provide tax exemptions to subscribers of the Unified Pension Scheme.
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.
Around 24 paise will come from borrowings and other liabilities, 10 paise from non-tax revenue like disinvestment, and 2 paise from non-debt capital receipts, the Budget documents showed.
Union Labour Ministry has announced pension scheme for unorganised labour hands like mine and cine workers.
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.
The fee for fund manager will change. As of now, they get 0.0009 per cent of the funds managed by them.
'The informal sector can grow at a 100 per cent rate -- we have to plan big.'
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.
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