The battle for Corus is expected to take a decisive shift this week, with the pension trustees of the Anglo-Dutch steel company expected to meet the representatives of Brazil's CSN to understand its commitment to the workers' pension.
Pension is a regular (normally monthly) payment that a person gets when he/she has retired from a job. This regular payment is obtained from an investment fund to which that person, or his/her employer, contributed during the time the person was working.
The Haryana Police on Wednesday fired tear gas shells to disperse farmers from Punjab at Shambhu and Khanauri border points as they tried to move towards barricades stalling their protest march to Delhi.
Pensioners to get 40% raise, more gains for octogenarians. The Union Cabinet has accepted this proposal, along with other recommendations of the Sixth Pay Commission on pension benefits for the estimated 3.84 million central government pensioners at a meeting here on Thursday.
Pension schemes across the world are coming under greater pressure due to low returns on investments and public reluctance to join them, chairman of Insurance Regulatory and Development Authority N Rangachary said.
The government plans to come up with a contributory pension scheme for its employees who joined service after October 2002, and set up a National Tax Tribunal to speed up settlement of disputes.
The fee for fund manager will change. As of now, they get 0.0009 per cent of the funds managed by them.
Union Agriculture and Farmer Welfare Minister Munda, Commerce and Industry Minister Piyush Goyal and Minister of State for Home Affairs Nityanand Rai represented the Centre at the meeting over the farmer unions' various demands, including a law guaranteeing a minimum support price (MSP) for crops. Punjab Chief Minister Bhagwant Mann also joined the meeting at the Mahatma Gandhi State Institute of Public Administration in Sector 26. The meeting started at around 8:45 pm on Thursday and lasted for around five hours.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
A new kind of pension-cum-savings scheme is on the anvil, which would provide a safety net as well as liquidity to the holder.
Every young diploma and degree holder in the country will have the right to apprenticeships in the private and government sectors, he said.
NPS aims at ensuring financial security to every citizen by encouraging them to start contributing towards the old age saving.
The government today constituted a five-member interim Pension Fund Regulatory and Development Authority, which will come up with guidelines for a new pension system from January 2004.
Police on Friday used tear gas to disperse Haryana farmers heading towards Khanauri on Punjab's border with the state where farmers, mostly from Punjab, have been camping since last week after their 'Delhi Chalo' march was halted by security forces.
The pension sector is expected to become the largest financial sector in India in the next five years and there will be a separate law for the sector, a top finance ministry official said on Tuesday.
The higher salaries and pension outgo will be equivalent to about one per cent of the GDP.
A new research study conducted in Karnataka has found the current eligibility criterion of taking household income for sanctioning of social security pensions to be inappropriate and recommended the South African model which takes into account only the earnings of the beneficiary and spouse.
DA was last revised in September last year from 100 per cent of basic pay to 107 per cent.
The government is also contemplating amendments to other two pension schemes to make widows eligible for it at 18 years instead of present age cap of 40, and disabled with 40 per cent disability qualify for it instead of 80 per cent.
Finance Minister Arun Jaitley said the government will safeguard interests of soldiers retiring at an early age through higher pensions.
Cabinet to take up proposal to extend operation & maintenance contracts from 9 to 29 years
Irda's new guidelines for pension plans guarantee returns, but the rate is too low to beat inflation
The revised DTC which will introduce several changes if implemented has brought New Pension Scheme under the tax exempt net. This new change will make NPS an attractive investment opportunity.
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.
The move will benefit 50 lakh (5 million) employees and 30 lakh (3 million) pensioners.
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.
In lieu of the pension scheme, an amount equivalent to 15 per cent of the employee's basic salary, which would have been deposited in the pension fund, will be paid to them as a variable allowance.
The government has fixed a target of 1 lakh (100,000) subscribers under the pension scheme for senior citizens through the Life Insurance Corporation, the Lok Sabha was informed on Friday.\n\n
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.
They said that massive public investment in infrastructure, social sectors and agriculture would generate employment and the Union Budget should give it a priority and allocate necessary funds for this.
Djokovic backs schedule change at expanded Australian Open
RK Dhowan stressed that OROP has been a "priority area" and the issue has been taken up with the ministry.
The funds are likely to be invested as per the interim investment guidelines, which may allow investment of 5 per cent in equity and 10 per cent in equity-linked mutual funds.
Rajasthan Chief Minister Ashok Gehlot on Friday announced his government's decision to form 19 new districts and three new divisions in the state, earmarking Rs 2,000 crore for development of infrastructure for them.
Foreign direct investment in the pension sector is likely to be pegged at 26 per cent initially and six players with at least one public sector undertaking would be allowed to operate as pension fund managers.
Fresh differences have arisen between the government and the Left parties over pension reforms that may indefinitely stall the Pension Funds Regulatory and Development Authority Bill.
The pay panel had in November recommended 14.27 per cent hike in basic pay at junior levels.
Some countries are taking extreme measures to reduce debt and bring the budget in order.
A 21-year-old farmer was killed and a few others injured following a clash between security personnel and protesting farmers at Khanauri on the Punjab-Haryana border.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances