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 supplementary demands for grants include a gross additional spending of over Rs 2 lakh crore, which would be matched by savings of over Rs 1.21 lakh crore.
If you plan to buy a pension plan as a part of your tax-saving exercise, you need to wait.
Government said on Tuesday subscribers under the New Pension System will have a choice to invest in fixed income instruments and equity.
'We used to get Rs 250 for a Test match, and if the match was over in 4 days, 50 rupees were cut.'
Lok Sabha Speaker Om Birla recognised Rahul Gandhi as the leader of opposition on Wednesday, a day after the Congress communicated its decision to name him for the position to the Lok Sabha Secretariat.
Survey rejects EPFO as pension regulator
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
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.
PFRDA will invite bids to appoint pension fund managers.
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.
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.
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.
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.
rediffGURU Samkit Maniar answers readers' personal income tax queries
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.
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.
Defence Minister Manohar Parrikar said most of the rest will get their new pension by Holi.
'Young investors with limited funds should ensure that investing in NPS does not crowd out their other, more liquid, investments.'
The index value fell mainly due to the introduction of Worldwide Governance Indicators.
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.
The scarcity of resources is particularly evident in the case of Rajasthan compared to many other states.
The decision to suspend this benefit will hit 32 lakh pensioners.
BCCI president Sharad Pawar said they would get Rs 25,000 per month.
Amid differences among allies, the government today deferred a decision on the changes in the crucial Pension Fund Regulatory and Development Authority Bill, 2011.
The Pension Fund Regulatory and Development Authority (PFRDA) has sought income tax exemption for the New Pension Scheme at par with other schemes like Public Provident Fund (PPF).
'These include economic prosperity, a promising future for youth, empowerment for women, a thriving society, robust healthcare, quality education, elevated living standards, agricultural prosperity, and robust social security coupled with effective governance.'
The CAT passed the order on a petition filed by V T Prabhakaran, the retired scientist of Indian Agricultural Statistics Research Institute, challenging departmental proceedings and withholding of arrears benefit that was due to him after he retired on February 2009.
Employees' Provident Fund Organisation has been allowing members to contribute more than mandatory amount towards their pension account.
Three Union ministers and farmer leaders will meet in Chandigarh at 6 pm to discuss their demands, including a legal guarantee for MSP for crops and farm debt waiver.
Numbers could be classified further into (140) marketing and (160 or 161) for service calls to easily identify the purpose of the call in the future.
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.
The tribunal passed the order while hearing a bunch of petitions from the employees of Delhi Transport Corporation, seeking pension from the corporation which was denied to them after they had opted for VRS between 1993 and 1995.
Post your financial planning queries for rediffGURU and financial planning expert, Colonel Sanjeev Govila.
EPFO has an ambitious plan to settle the claims within few hours after filing of application
Chief of Army Staff General V K Singh Sunday hinted at implementation of one rank one pension and said all information regarding ex-army men would be collected and their problems would be sorted out.
Faced with a deadlock over the Pension Fund Regulatory and Development Authority Bill due to stiff opposition from the Left parties, the government is contemplating to bring a separate Bill on pension funds for private sector employees.
Finance Minister P Chidambaram on Tuesday asked chief ministers to carry forward pension reform as the liabilities of both the Centre and states was expected to cross a staggering Rs 100,000 crore
Meeting a long-pending demand of over a crore defence veterans and 12 lakh serving jawans, the government on Monday substantially increased the pension of ex-servicemen.
