Finance Minister P Chidambaram on Tuesday asked chief ministers to carry forward pension reform as the liabilities of both the Centre and states was expected to cross a staggering Rs 100,000 crore
Meeting a long-pending demand of over a crore defence veterans and 12 lakh serving jawans, the government on Monday substantially increased the pension of ex-servicemen.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) will answer your personal finance-related questions.
The draft regulations for the new pension scheme likely to be out by September first week is expected to recommend fixing minimum base capital for pension fund management companies less than that stipulated for insurance companies.
Pension plans by mutual funds have a three-year lock-in like ELSS.
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Fund managers will be given more flexibility to invest in corporate bonds.
Before opting for this scheme, consider how EPS is calculated.
According to an Andhra government statement, Naidu 'reposed confidence' in the PM's leadership.
The New Pension Scheme (NPS), launched by the government, was extended to all citizens of the country from May 1, 2009. Under the scheme, 50 per cent of the funds is allowed for investment in the stock markets.
Congress Vice President Rahul Gandhi backed the long-pending demand of 'One Rank, One Pension' for former servicemen assuring them that he will make all efforts to ensure it is met at the earliest.
Finance Minister P Chidambaram has announced that the government will soon notify an interim investment pattern for pension funds, pending the passage of the Pension Fund Regulatory and Development Authority Bill in Parliament.
The self-employed should invest in the National Pension System, a government-backed, low-cost retirement avenue where they can choose the mix of debt and equity that is right for them.
After the success of the National Highways Authority of India's (NHAI's) first infrastructure investment trust (InvIT) with foreign institutional investors, the Centre is working on a proposal to launch a fresh InvIT for national highways, where domestic retail investors can hold units of the trust
Twenty-six per cent FDI cap in sector is not incorporated in Bill as govt retains flexibility.
Days after protests by war veterans, Prime Minister Narendra Modi on Saturday said that his government was committed to One Rank One Pension.
The Army has now fallen behind the other two services for four years in a row.
The government on Tuesday said it was not considering 100 per cent foreign direct investment in the pension sector.
In a move that has shocked the friends of Ruchika Girhotra, the Central Administrative Tribunal has restored the pension of former Haryana director general of police S P S Rathore, who was convicted of molesting her. A division bench of the Central Administrative Tribunal headed by Justice S D Anand has ordered the restoration of the pension of Rathore, which was stopped by the Centre in June last year. Rathore, 69, was awarded six months' rigorous imprisonment.
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 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 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 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.
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.
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.
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.
This mindless medley of products does not create choice.
Ahead of this election, the alliance between the BJP and the SKM had broken down. One reason is the fear that like Article 370, Article 371F might also be changed.
'The actions of Indian monetary authorities will depend on how quickly they want the inflation to come down to 4 per cent.'
Tax deduction limit up Rs 50K for investment in pension fund.
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.
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.
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.
The fee for fund manager will change. As of now, they get 0.0009 per cent of the funds managed by them.
NPS aims at ensuring financial security to every citizen by encouraging them to start contributing towards the old age saving.
