Finance Minister P Chidambaram on Tuesday asked Left parties to reconsider their opposition to the pension bill so that government can provide a "legal basis" to the new pension system started last year.
The pension of medal winners in international competitions, like the Olympics and Asian Games, has been doubled with effect from July 1, the Sports Ministry announced on Thursday. As per the revised rates of pension, medalists at the Olympic Games will get Rs 10,000 in place of Rs 5000 and gold medalists at the World Cup/World Championships in Olympic and Asian Games disciplines will draw Rs 8000 instead of Rs 4000 per month.
The French government plans to raise the minimum retirement age to 62 from 60.
Many senior citizens fail to disclose certain incomes like interest, commissions, or dividends in their ITRs.
One Rank One Pension (OROP) will have a significant impact on the country's fiscal bill and the overall cost will be around Rs 16,000 crore.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Farmer leader Sarwan Singh Pandher on Thursday demanded registration of a murder case against those responsible for the death of a protesting farmer at the Khanauri border point of Punjab-Haryana.
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 former India captain and coach called upon well-off cricketers to gift the money to others in need.
The Supreme Court on Tuesday upheld the validity of controversial government pension scheme by which a certain percentage of an employer's contribution to the provident fund is diverted for pension purposes.
The joint venture of Punjab National Bank, Vijaya Bank, Berger Paints and the United States-based Principal Group has evinced interest to the interim Pension Fund Regulatory and Development Authority for foraying into the green-field sector.
A few days after the Cabinet cleared the new pension scheme for government employees, Labour Minister Sahib Singh Verma on Wednesday expressed concerns over it, even as he said his ministry had no objection to the proposed scheme.
174 past Test cricketers and umpires will receive monthly pension of Rs 5,000 for life, from this month.
'it's not just youth in India who are left behind because of their inability to find jobs; nearly two-thirds of Indian women of working ages do not participate at all in the paid labour force.'
When the subscriber reaches superannuation or the age of 60, 60 per cent of the total corpus accumulated in NPS can be withdrawn as a lump sum.
Private life insurers have asked Insurance Regulatory and Development Authority to come up with a standardised product.\n\n
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.
"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.
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.
The Congress wants to reinforce the tax more powerfully now after its four generations reaped benefit of the wealth passed on to them, he said.
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.
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.
Suresh said the ministry had received several representations from the EPF pensioners Association, pointing to the meagre pension amount, which in some cases was about Rs 50 to Rs 300.
The UPA government's decision to ensure a minimum pension of Rs 1,000 a month under the retirement fund body EPFO's scheme, which will immediately benefit 28 lakh pensioners, is going to be a reality soon.
The police deployed tear gas and water cannons for a second day to stop the farmers from marching to Delhi.
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.
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.
The government has not done its homework or made any attempt to forge a consensus on this matter that affects millions of people in the organised sector, says Harsh Roongta.
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.
Under the NPS, every subscriber will have an individual pension account, which will be portable across job changes.
Telecom and IT Minister Ravi Shankar Prasad said one of the primary focus areas of Digital India is Pillar 5: eKranti - electronic delivery of services.
At present, workers whose basic wage at the time of joining is up to Rs 6,500 per month.
'Once elected, you have to act like people's representative for the full five years or else people show you your place.'
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.
Right now there are about 30 lakh (3 million) subscribers under the Swavalamban scheme.
