The FDI in pension sector would move in tandem with the insurance sector, official sources said, adding that the revised norms would be incorporated in the Pension Fund Regulatory Authority Bill expected to be introduced in Parliament during the upcoming Budget session.
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.
Pension plans purport to provide for an individual at a stage when he/she is presumed to be inept of earning his/her livelihood. Hence the savings need to be planned, managed and executed with an extra degree of caution.
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 private sector will look to the budget to check whether there are any headwinds or tailwinds.'
Union Agriculture Minister Arjun Munda on Tuesday said a law guaranteeing minimum support price (MSP) on crops cannot be brought in a hurry without consulting all stakeholders and urged the protesting farmer groups to have a structured discussion with the government on the issue.
Parliamentary Affairs Minister Ananth Kumar told the Lok Sabha that the issue of perks and pensions to MPs are given as per provision of the law and it is in the exclusive domain of Parliament.
PFRDA will invite bids to appoint pension fund managers.
If you plan to buy a pension plan as a part of your tax-saving exercise, you need to wait.
A Parliamentary panel that went into a Bill to create a pension fund regulator has favoured 26 per cent FDI in the sector, but found many lacunae in the legislation.
A team of three Union ministers will hold talks on Monday with a delegation of farmer leaders, who are planning to march towards Delhi to press for their demands.
Public Provident Fund should be phased out over a period of time after the introduction of the new pension scheme proposed by the government, the interim Pension Fund Regulatory and Development Authority chairman D Swarup said on Saturday.
The Governor and the ruling LDF in the state have been at loggerheads since the Supreme Court verdict quashing the reappointment of Gopinath Ravindran as VC of Kannur University and berating the Left government for its "unwarranted intervention" in the matter.
From taking charge of Jharkhand as its youngest chief minister at 38 to establishing himself as a 'fighter' for tribal rights, Hemant Soren, who was arrested by the Enforcement Directorate, is an accidental leader thrust into politics after a family tragedy.
He requested Prime Minister Narendra Modi to make an announcement that the farm loans would be waived, while a mechanism for the same could be worked out later.
Government said on Tuesday subscribers under the New Pension System will have a choice to invest in fixed income instruments and equity.
"I am personally averse to sealed covers. There has to be transparency in court... This is about implementing orders. What can be secret here," the CJI said.
Defence Minister Manohar Parrikar said most of the rest will get their new pension by Holi.
The Army, stated that "in view of conflicting messages on social media regarding financial assistance to the Next of Kin of the deceased, it was important to clarify that emoluments due to the Next of Kin were governed by the relevant terms and conditions of service of the soldier".
West Bengal Chief Minister Mamata Banerjee on Saturday accused NIA officials of attacking villagers in Purba Medinipur district, the BJP hit back at her saying that the attack on the NIA officials is Sandeshkhalli 2.0 orchestrated by the state.
India's largest PSU bank, State Bank of India, delivered excellent results, once the impact of a big jump in employee expenses was adjusted for. The net interest income (NII) beat the Street due to a better net interest margin (NIM) and good loan growth. The credit growth at 5.2 per cent quarter-on-quarter (Q-o-Q) (15 per cent year on year) was excellent for a large bank.
India stands top among South Asian countries in pension coverage to its older people, according to a joint report by the World Bank and the Organisation for Economic Cooperation and Development.
The top court granted liberty to ex-servicemen association to file an application, if they feel aggrieved by any action of the Centre on payment of arrears of the OROP.
The pension reforms Bill is likely be passed with the Bharatiya Janata Party (BJP) deciding to support it in the parliamentary standing committee. The Bill has been pending since 2005. Its revised version was tabled in the Budget session of Parliament this year.
Survey rejects EPFO as pension regulator
The Supreme Court on Monday came down heavily on the ministry of defence over its January 20 communication regarding payment of arrears of One Rank-One Pension (OROP) in installments to eligible pensioners of the armed forces.
Experts foresee possible scenarios: A BRS government with less majority, a BRS government with BJP and AIMIM support, or a Congress government.
It isn't easy being a retired person. With some banks already cutting down the rate of return on fixed deposits offered to senior citizens and the Union Budget rationalising dividend taxation on monthly income plans, the higher returns and tax benefits they enjoyed are already gone.
'Right to apprenticeship means that anyone below the age of 25 years with a diploma or other qualifications can demand an apprenticeship with a private, a public sector company or a government organisation. And when he/she demands this, it is the obligation of the government to provide it.'
With the government all geared up to open up the pension sector, Dutch financial powerhouse ING Group on Thursday expressed its desire to foray into the long-term savings business but sought easy entry norms.
Farmer leaders participating in the 'Delhi Chalo' agitation on Friday said the cremation of Shubhkaran Singh, who died amid clashes between Haryana Police and Punjab farmers, will not take place till the Punjab government registers a case against those responsible it.
The decision to suspend this benefit will hit 32 lakh pensioners.
The index value fell mainly due to the introduction of Worldwide Governance Indicators.
Concerned over the problems of ageing population world over, India on Saturday wanted comprehensive pension reforms in both developed and developing countries as the challenges were similar.
Interim pension regulator Pension Fund Regulatory and Development Authority has appointed National Securities Depositories Ltd as an agency to track the pension records of those under the new pension scheme.
The Haryana Police on Wednesday fired tear gas shells to disperse farmers from Punjab at Shambhu and Khanauri border points as they tried to move towards barricades stalling their protest march to Delhi.
From April 1, subscribers will be able to change investment option & asset allocation twice a year, instead of once. Use greater flexibility offered by pension scheme judiciously.
EPFO has an ambitious plan to settle the claims within few hours after filing of application
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.
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