Most insurers aren't comfortable with subscribing to the National Pension System as they see it as competition.
Dhaval Kapadia, Director, Portfolio Specialist, Morningstar Investment Adviser (India) answers queries
The Pension Fund Regulatory and Development Authority Bill, 2011, provides for market based returns and wide coverage based on several investment options in the pension sector with an aim to building confidence in the subscribers.
Ramalingam Kalirajan dives into the specifics of NPS withdrawal rules to help you understand the conditions under which and when partial withdrawals are allowed.
The number of American companies freezing their pension plan for employees are on the rise, as the corporates are looking for ways to bring down costs, says a survey.
All those years of contributions not adding up to a big reward definitely makes the scheme unappealing.
The long-pending One Rank One Pension Scheme for ex-servicemen was tonight brought into force with government issuing a notification which will benefit over 25 lakh veterans and war widows.
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.
The Bombay high court has ruled that trained teachers should be given pension applicable to employees in their grade as it would be illegal and unjustified to give them pension of untrained teachers.
Addressing the nation on the 70th Independence Day from the Red Fort, the prime minister had announced a 20 per cent hike in the pension for freedom fighters.
According to official statistics, half of India's GDP comes from as many as 420 million workers in the unorganised sector including street vendors, rickshaw pullers, construction workers, rag pickers, agricultural workers, among others. This massive workforce remains outside the purview of the formal banking and insurance industries.
To offer additional support at the low end of the income ranges, the Centre will consider a large-scale jump in exemption rates under the old income-tax regime in the vote on account, or interim Budget, according to a senior official in the know. Those will include an extension of the income tax exemption rates close to Rs 7 lakh and additional measures for women farmers.
The government has also revised the minimum wages for unskilled non-farm workers upwards by 42 per cent to Rs 350 per day
The choice of tax regime dictates how your income will be taxed. If you don't make the right pick, you might end up losing money.
The state's economic health is in focus as it has consistently breached the fiscal deficit in eight of the last 10 years since Telangana's formation.
The protests, which is into its third day in the state, caused massive disruption of railway services at Buxar and Kahalgaon, officials of East Central Railways said.
The Indian Air Force, in particular, has grown from a very modest beginning just about 90 years ago, to being "one of the most formidable air forces in the world", the IAF chief said.
If you don't make the necessary adjustments after October 1, 2024, you'll stop earning interest on accounts that aren't in compliance rediffGURU Milind Vadjikar
The range of food at banquets at the Mughal court consisted of delicacies that commoners could not ever dream of.
'What happened was that over a period of time, the data analytics showed that many were claiming it and that it was being misused'
If the Congress comes to power in the state, it will not allow his government to work, Modi claimed.
'This year overall hiring has seen a slight improvement as compared to the dip seen during the last financial year.'
In their first step towards introducing a pension scheme based on defined contribution, public sector banks have in-principle decided to introduce such a scheme for new recruits in the officer cadre.
The number of fresh formal jobs generated in a month increased to a seven-month high in April, signalling a recovery in the formal labour market in the country, according to the latest monthly payroll data released by the Employees' Provident Fund Organisation (EPFO) on Thursday. In April, the number of new monthly subscribers under the Employees' Provident Fund (EPF) sequentially increased by 18.77 per cent to 887,438 from 747,146 in March.
The move will benefit 50 lakh (5 million) employees and 30 lakh (3 million) pensioners.
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The Department of Pension and Pensioner's Welfare is working on this front with the vision of ensuring a life of dignity for pensioners, Minister of State for Personnel, Public Grievances and Pensions Jitendra Singh said.
The total size of pension market in India is estimated to have stood at over Rs 1.5 lakh crore (Rs 1.5 trillion) in 2010, while it is expected to rise to over Rs 2 lakh crore (Rs 2 trillion) by 2015 and further to close to Rs 3 lakh crore (Rs 3 trillion) in 2020 and more than Rs 4 lakh crore (Rs 4 trillion) by 2025.
Employees' Pension Scheme has been asked to fold up and hand over subscribers to National Pension System
Officials said the broad objective of the study is to evaluate the extent to which the programme has achieved its aim and find out the factors responsible for its progress and suggest remedial measures needed to overcome the difficulties.
New retirement schemes from MFs offer Section 80C benefit but locks in your money for five years
'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
1,100 unemployed and unmarried daughters of freedom fighters will henceforth get a basic pension of Rs 1,500 per month.
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.
Finance Minister Nirmala Sitharaman on Thursday presented her sixth Budget in a row, equalling the record of former Prime Minister Morarji Desai.
The long-pending demand of high court judges of one rank one pension is set to be met as government plans to bring a bill to rectify an anomaly as per which judges selected from the Bar get lesser pension than those elevated from state judicial services.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Trustees of Retirement fund body EPFO will decide tomorrow on amending the scheme to provide a minimum monthly pension of Rs 1,000, which will immediately benefit about its 28 lakh pensioners.
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.
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