Finance Minister Jaswant Singh said on Friday interest rates on pension funds needed to be brought in line with declining interest rates in the market.
Seeking to dispel the impression of policy inaction, the government is likely to give a push to pension sector reform by approving changes in the proposed PFRDA Bill so that it can be taken up by Parliament for the passage in the Monsoon session next month.
Global pension funds have started investing aggressively in primary market offers. Till recently, they were not looking beyond some of the largest Indian listed companies.
'The Congress is trying to reinvent itself -- the caste census demand, OBC emphasis, the anti-corporate thrust, especially on Adani etc -- all this is not standard Congress strategy.'
...Even if it means less democracy, so that their everyday problems get solved? argues R Jagannathan.
The farmers also marched along the ambulance and demanded action against those who are responsible for his death.
Ask your HR department for details about the fund, trustees and returns
Most insurers aren't comfortable with subscribing to the National Pension System as they see it as competition.
NPS still has critics despite being in business for a decade and mopping Rs 24,000 crore as of 2013-14.
Decks have been cleared for the long-awaited pension reforms with the union cabinet on Thursday giving approval to a proposal to bring in legislation for setting up a separate regulator for the sector. \n
Ex-servicemen are unhappy with the pension hike announced by government saying it amounted to "wrong and deceitful" treatment of their long-pending 'One Rank One Pension' demand and vowed to continue struggle for their rights.
Many senior citizens fail to disclose certain incomes like interest, commissions, or dividends in their ITRs.
Called Default Option, it is a life-cycle fund under which the amount of money invested in equity would be more in the initial stages while in the later stages, more money would be invested in debt instruments.
The retired armed forces personnel's long-pending demand for "one rank, one pension" got backing of a Rajya Sabha committee on petitions in a report tabled early this week, asserting that the financial liability of Rs 1,300 crores is not very big amount to deny the parity in pension.
Defence Minister Manohar Parrikar adds that the matter will be resolved within two months.
The Congress has so far announced 82 candidates for the seven-phase Lok Sabha polls beginning April 19.
The decision, likely to benefit around three million defence pensioners, will come into effect from 2014-2015.
Applicants for Indian citizenship under the Citizenship (Amendment) Act 2019 (CAA) can submit any of nine documents, including valid or expired passport, ID cards and land tenancy records, to prove he or she is a national of Afghanistan or Bangladesh or Pakistan.
A formal sector worker can contribute towards pension scheme till the age of 58.
The government on Wednesday announced that dearness allowance for govt employees has been hiked to 6 per cent.
The pension bill is listed in the name of Finance Minister Pranab Mukherjee in the agenda papers of the Lok Sabha for Wednesday.
Farmers protesting to press the Centre for their various demands will stay put at the two protest sites on the Punjab-Haryana border till February 29 when the next course of action will be decided, their leader Sarwan Singh Pandher said on Friday.
Farmers will march towards Delhi on Tuesday after a meeting with two Union ministers over their demands, including legal guarantee to minimum support price (MSP) for crops, remained inconclusive.
Most mutual fund players and life insurance companies are planning to bid for appointment as pension fund managers for all citizens after the Pension Fund Regulatory and Development Authority (PFRDA) today decided to seek expression of interest from prospective fund managers.
Positive return guarantee but with conservative bias; rider to check insurer hopping by customers.
According to sources, the proposal is listed in the agenda of the meeting of the Union Cabinet scheduled for Friday.
The Federal Retirement Thrift Investment Board's (FRTIB), one of the US government's main retirement funds, decision to change the benchmark index for gaining international exposure will channel $3.6 billion (Rs 30,000 crore) inflows into domestic equities. India has a weightage of 5.3 per cent, seventh-most in the new MSCI ACWI IMI ex USA ex China ex Hong Index, which FRTIB now plans to use. India isn't part of the current developed markets-dominated MSCI EAFE index that the pension fund uses.
The opposition Congress listed 59 promises in its 106-page manifesto, with assurances for all sections of the society, including farmers, women and government employees.
Prez said basic pension of ex-servicemen of the Indian Army has increased by 2.57 times as compared to pension of December 31, 2015.
Sukhu said that he was a warrior and will fight till his last to ensure the welfare of the state and its people.
The Pension Fund Regulatory and Development Authority will consider a proposal to manage the pension funds of companies at its board meeting on Wednesday, extending its role from being manager of individual pension plans.
These are market-linked pension products offered by life insurance companies. These plans are for those looking for long-term retirement plans or investment options.
Finance Minister Jaswant Singh is likely to trigger off pension reforms for the unorganized sector in this Budget by exempting tax on a standardized pension policy, which could be sold by insurers at a meager price.
Pensions as a percentage of total wages and other allowances paid to government employees, defence and railway personnel in 2009-10 are expected to be 43.77 per cent, down from 48 per cent a year ago. In 2007-08, this ratio was 50.49 per cent. While the increase in expenses due to salaries and pensions have been attributed to the SPC recommendations, experts are not sure why pensions as a percentage of total salaries have been decreasing over the years.
Only a fifth of foreign portfolio investors (FPIs) in breach of the market regulator-specified thresholds may need to provide enhanced disclosure on ultimate beneficiaries, thanks to exemptions being provided, according to people in the know. The ultimate beneficial ownership (UBO) disclosures, for FPIs with over 50 per cent holding in a single corporate group or over Rs 25,000 crore exposure to Indian assets, will be required from February 1. But, depending on their category, FPIs will have 10-30 working days to submit these granular details.
The SNJPC recommendations cover pay structure, pension and family pension and allowances besides dealing with the issue of establishing a permanent mechanism to determine subjects of service conditions of district judiciary.
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