Directing the DISCOMS to make the payments to the employees within three months, the Delhi high court asked them to adopt a method to pay pension, gratuity, leave encashment etc.
The Karnataka High Court has refused to grant a stay on an appeal against City Civil Court's order of April 8 directing the trustees and Britannia Industries to pay the outstanding pension dues as per fund rules to the petitioners within the next two months.
There are many issues that customers need to check as these could have a significant impact on the returns they are expecting from the policy.
At present, workers whose basic wage at the time of joining is up to Rs 6,500 per month.
Under the NPS, every subscriber will have an individual pension account, which will be portable across job changes.
Those who get less than Rs 1,000 a month include 22 lakh (2.2 million) member pensioners and 5 lakh widows as on March 31, 2013.
The poll panel has asked state Congress chief Govind Singh Dotasra to respond to the notices by 3 pm on Thursday and 7 pm on Friday, respectively.
Right now there are about 30 lakh (3 million) subscribers under the Swavalamban scheme.
"I sometimes think of leaving it, but the chief minister's post doesn't leave me," Ashok Gehlot famously said earlier this year, in part as a signal to the Congress top brass not to pick someone else for the job if the party wins the assembly polls.
UTI Mutual Fund plans to foray into the pension sector once the government sets up Pension Fund Regulatory and Development Authority in October this year.
Tough opposition from Left parties notwithstanding, the government has opened a window of opportunity for foreign companies for managing pension funds of central and state government employees.
A septuagenarian widow has received family pension after waiting for over half a century for it.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
Infighting between Ashok Gehlot and Sachin Pilot has been out in the open throughout the Congress term.
On March 13, Minister of State for Finance Pankaj Chaudhary had tabled the second batch of supplementary demands for grants in the House amounting to a total of Rs 2,70,508.89 crore.
Finance Minister Pranab Mukherjee in likely to launch the scheme in the first week of July from Rai Bareli, the Lok Sabha constituency of Congress president Sonia Gandhi.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
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.
'This is not just the IREDA's IPO. It is the success of the ministry of new and renewable energy and of the renewable energy industry.'
State Bank of India, UTI AMC and Life Insurance Corporation will start investing the corpus of the new pension system (NPS), estimated around Rs 2,000 crore (Rs 20 billion) now, in market instruments including 15 per cent in equities from end-June 2008.
A five-judge constitution bench headed by Chief Justice DY Chandrachud had on May 11 reserved its verdict on the pleas after a marathon hearing of 10 days.
NPS is a cost-effective instrument with low fund management and other fees. Unlike in mutual funds, investors get the benefit of tax-free rebalancing here.
In a pension plan, a person makes an investment either by one-time payment or in instalments for a fixed period of time and in return gets a regular return either for a life time or for a fixed term depending on the plan.
The pension regulator, the Pension Fund Regulatory Development Authority, is taking various steps to boost the numbers, cairman D Swarup tells Vrishti Beniwal in an exclusive interview
The pension fund managers distribute products under the National Pension System.
India should look at the Dutch model, which attempts to provide a decent lifestyle post-retirement.
Public sector entities Life Insurance Corporation, UTI AMC, State Bank of India and Punjab National Bank are among the front-runners to become pension fund managers under the new pension system.
The government may be staring at a modest slippage in fiscal deficit for 2022-23 (FY23), with the Ministry of Finance seeking parliamentary approval for additional spending through a second and final tranche of supplementary demands for grants. On Monday, as the Budget session of Parliament resumed, Finance Minister Nirmala Sitharaman sought Parliament approval for additional gross spending of Rs 2.7 trillion in FY23 (which ends on March 31). While net cash outgo is pegged at Rs 1.48 trillion, the rest will be matched by savings or enhanced receipts, the finance ministry said.
The Securities and Exchange Board of India (Sebi) may allow non-resident Indians (NRIs) and Overseas Citizens of India (OCIs) greater exposure to domestic equities if their investments are sent through foreign portfolio investors (FPIs) registered at the GIFT City International Financial Services Centre (IFSC). The proposal will be taken during Sebi's board meeting on Saturday along with other key agenda items such as easing of voluntary delisting mechanism and introduction of a regulatory framework for real estate fractional ownership platforms, said people in the know. At present, the combined holdings of NRIs and OCIs in a global fund have to be less than 50 per cent, while that of a single NRI or OCI is capped at 25 per cent.
The new pension system is structured in a manner that it is possible to escape poverty during old age.
The party also promised reservation to minorities on basis of their population after the caste census.
The fact that Gehlot has stayed relevant these five years with his populist schemes is one reason why he may beat incumbency in a state that votes for change every election, observes Ramesh Menon.
For long-term financial security, millennials must not only provide social security for their young families but also ensure that their financial burdens are not passed down to their families, says Casparus Kromhout.
With military expenditure of USD 81.4 billion (one billion=100 crore), India's spending was up by six per cent from 2021 and by 47 per cent as compared 2013.
"The pension amount is too meagre. Even in some cases it is less than Rs 200 per month. There is serious discontent and industrial unrest among the workers, " HMS secretary A D Nagpal said in a letter to the labour minister M Mallikarjun Kharge. Asking the government to address the anomalies in the scheme, Nagpal demanded that pension amount should be reasonably increased and the benefits which were withdrawn should be restored.
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