The Indian government has refused to accept recommendations for a 10% pension increase for retired regular Army captains under the One Rank One Pension (OROP) scheme. The Supreme Court heard an appeal by the government challenging an Armed Forces Tribunal order that mandated a decision on pension for retired captains. The government's decision not to accept the recommendations has led to a delay in resolving pension anomalies for these officers. The case will be heard again on December 12, 2023.
A video of Dehury crawling on a village road has gone viral on social media.
He will hold the office till February 9, 2027.
The New Pension Scheme scores over several other retirement products in many ways, check out how and why.
EPF doesn't just build your retirement fund -- it also provides free life insurance up to Rs 7 lakh under the EDLI scheme.
Following recommendations from the Deepak Parekh-headed Expert Group and taking into account comments from the public, PFRDA has categorised NPS investments into three asset classes -- E (equity), C (corporate paper) and G (government securities).
The strong domestic flow offset selling by foreign portfolio investors who pulled out $23.3 billion (Rs 2.03 trillion) from domestic equity markets in CY25.
The continued MF buying has pushed the equity holding of MFs to over Rs 50 trillion for the first time.
India is growing fast, but to keep growing strong, the government must make more things at home, create jobs, and spend money wisely, suggests Rajiv Memani, regional managing partner, Africa-India Region, EY.
'The tragedy underscored 'serious and widespread' weaknesses in the EPFO's monitoring system and its ability to detect and act against defaulting establishments.'
Those who have long retirement horizons of 15 to 20 years and seek higher long-term returns may opt for MSF. Investors nearing retirement (under 10 years) or those with low risk tolerance should stay away.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
India has managed high government debt-to-GDP, a slowing domestic revenue engine, lower household savings and a more hostile geopolitical environment separately in the past. But together, they threaten to undo the growth narrative on which today's optimism rests, warns Debashis Basu.
'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.'
While the DMK depends on a 'silver sieve' of welfare schemes to stay in power, its support is slowly draining away under the weight of poor governance, corruption, and voters who are no longer satisfied with benefits alone and now want basic administration to work, observes N Sathiya Moorthy.
Prime Minister Narendra Modi asserted that the record turnout in the first phase of the Bihar assembly polls indicates people's trust in the NDA government. He predicted victory for the NDA, led by Chief Minister Nitish Kumar, and lauded the Election Commission for conducting successful elections.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
State debt is rising because revenues are disappointingly weak. Ten states have debt ratios exceeding 30 per cent. In 2023-2024, states were borrowing simply to meet day-to-day expenses, points out Debashis Basu.
Investors should quiz them to understand the product, which options to invest in, and how to get the final payout
Retail investors are moving away from a buy-and-hold approach and towards more informed short-term positioning, recent investment patterns show.
An ECI statement issued from New Delhi put the voter turnout at 68.76 per cent. The female turnout (74.03 per cent) was significantly higher, compared with males (64.1 per cent).
Bihar recorded its highest-ever voter turnout of 67.14 per cent in the second and final phase of the assembly elections. The election is seen as a referendum on Chief Minister Nitish Kumar. Kishanganj recorded the highest polling percentage at 76.26.
Over 25 crore workers across India are set to strike against new labour codes and privatisation, potentially disrupting banking, postal, and other essential services.
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.
The potential market for pensions in India is enormous. Some 284m working age people in India lack formal pensions.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Justice Surya Kant is set to become the 53rd Chief Justice of India, bringing extensive experience and a record of significant verdicts on key issues.
The Congress-led UDF secured a decisive victory in Kerala's local body elections, dealing a blow to the LDF, while the BJP gained significant ground, including winning control of the Thiruvananthapuram Corporation.
EPF nominations decide inheritance -- here's what happens if you don't file.
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 order also provides that the field office will incur expenditure on the facilitation function under the head of publicity.
Sex workers in Sonagachi, Asia's largest red-light district, are pleading for relief from stringent voter ID rules that they say are impossible to meet, potentially leading to exclusion from the voters' list.
The Employees' Provident Fund Organisation (EPFO) on Monday set May 3 as the deadline for subscribers to opt for a higher pension. The Supreme Court on November 4 allowed another change for employees who were existing EPS members as on September 1, 2014, to contribute up to 8.33 per cent of their actual salaries - as against 8.33 per cent of pensionable salary capped at Rs 15,000 a month - towards pension. The apex court gave a four-month window to enable opting for higher pensions.
The Bihar chief minister had a point to prove in the latest assembly elections, which were held amid speculations of a fatigue factor, if not downright anti-incumbency, made worse by rumours of his indifferent health.
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.
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.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
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