The Bharti Kisan Union (Ekta Ugrahan) will on Saturday hold dharnas outside the residences of three senior Bharatiya Janata Party leaders in Punjab on the fifth day of the farmers' protest over their various demands, including a legal guarantee for a minimum support price (MSP).
These are market-linked pension products offered by life insurance companies. These plans are for those looking for long-term retirement plans or investment options.
Finance Minister Jaswant Singh is likely to trigger off pension reforms for the unorganized sector in this Budget by exempting tax on a standardized pension policy, which could be sold by insurers at a meager price.
In a bid to enhance its equity exposure and earn higher returns for its nearly 65 million subscribers, the Employees' Provident Fund Organisation (EPFO) is considering reinvesting 50 per cent of its exchange-traded funds (ETFs) redemption proceeds back into equity. Sources close to the development said a proposal regarding this was discussed in the investment committee (IC) meeting in October last year, and the recommendation has been sent to the Central Board of Trustees (CBT), the apex decision-making body of the EPFO for its approval. The next CBT meeting is scheduled to be held on Saturday.
Pensions as a percentage of total wages and other allowances paid to government employees, defence and railway personnel in 2009-10 are expected to be 43.77 per cent, down from 48 per cent a year ago. In 2007-08, this ratio was 50.49 per cent. While the increase in expenses due to salaries and pensions have been attributed to the SPC recommendations, experts are not sure why pensions as a percentage of total salaries have been decreasing over the years.
Referring to an action against farmers by the security personnel deployed by the Haryana authorities at the Punjab-Haryana border, Pandher slammed paramilitary personnel for using "force" against farmers, leaving many injured.
'Once elected, you have to act like people's representative for the full five years or else people show you your place.'
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.
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.
If you plan to buy a pension plan as a part of your tax-saving exercise, you need to wait.
The 1.4% decline projected for 2025 is driven by a 5.6% (72,000) dip in the strength of railway employees to 1.2 million by next year.
PFRDA will invite bids to appoint pension fund managers.
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.
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.
'We need a candidate who will do our work and fight with the authorities; someone we can hold accountable.' 'Piyush Goyal is not that candidate.'
Many senior citizens fail to disclose certain incomes like interest, commissions, or dividends in their ITRs.
Government said on Tuesday subscribers under the New Pension System will have a choice to invest in fixed income instruments and equity.
Survey rejects EPFO as pension regulator
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.
Defence Minister Manohar Parrikar said most of the rest will get their new pension by Holi.
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.
The farmers also marched along the ambulance and demanded action against those who are responsible for his death.
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.
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.
'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.
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 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.
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.
EPFO has an ambitious plan to settle the claims within few hours after filing of application
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.
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