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.
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.
Many senior citizens fail to disclose certain incomes like interest, commissions, or dividends in their ITRs.
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.
PFRDA will invite bids to appoint pension fund managers.
The farmers also marched along the ambulance and demanded action against those who are responsible for his death.
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.
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 Congress is trying to reinvent itself -- the caste census demand, OBC emphasis, the anti-corporate thrust, especially on Adani etc -- all this is not standard Congress strategy.'
...Even if it means less democracy, so that their everyday problems get solved? argues R Jagannathan.
Government said on Tuesday subscribers under the New Pension System will have a choice to invest in fixed income instruments and equity.
Defence Minister Manohar Parrikar said most of the rest will get their new pension by Holi.
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.
Survey rejects EPFO as pension regulator
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.
Applicants for Indian citizenship under the Citizenship (Amendment) Act 2019 (CAA) can submit any of nine documents, including valid or expired passport, ID cards and land tenancy records, to prove he or she is a national of Afghanistan or Bangladesh or Pakistan.
The Congress has so far announced 82 candidates for the seven-phase Lok Sabha polls beginning April 19.
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 opposition Congress listed 59 promises in its 106-page manifesto, with assurances for all sections of the society, including farmers, women and government employees.
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.
Farmers protesting to press the Centre for their various demands will stay put at the two protest sites on the Punjab-Haryana border till February 29 when the next course of action will be decided, their leader Sarwan Singh Pandher said on Friday.
The Federal Retirement Thrift Investment Board's (FRTIB), one of the US government's main retirement funds, decision to change the benchmark index for gaining international exposure will channel $3.6 billion (Rs 30,000 crore) inflows into domestic equities. India has a weightage of 5.3 per cent, seventh-most in the new MSCI ACWI IMI ex USA ex China ex Hong Index, which FRTIB now plans to use. India isn't part of the current developed markets-dominated MSCI EAFE index that the pension fund uses.
Farmers will march towards Delhi on Tuesday after a meeting with two Union ministers over their demands, including legal guarantee to minimum support price (MSP) for crops, remained inconclusive.
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.
The index value fell mainly due to the introduction of Worldwide Governance Indicators.
The decision to suspend this benefit will hit 32 lakh pensioners.
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 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.
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.
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
Amid differences among allies, the government today deferred a decision on the changes in the crucial Pension Fund Regulatory and Development Authority Bill, 2011.
Employees' Provident Fund Organisation has been allowing members to contribute more than mandatory amount towards their pension account.
Sukhu said that he was a warrior and will fight till his last to ensure the welfare of the state and its people.
BCCI president Sharad Pawar said they would get Rs 25,000 per month.
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).
"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.
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.
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