Pension plans by mutual funds have a three-year lock-in like ELSS.
Former Indian Air Force chief Air Chief Marshal R K S Bhadauria (retired) joined the Bharatiya Janata Party on Sunday and praised Prime Minister Narendra Modi's leadership and the steps taken by his government to modernise and strengthen the armed forces
Not filing an ITR or paying the tax dues on the deceased's behalf can lead to penal consequences.
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Fund managers will be given more flexibility to invest in corporate bonds.
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.
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.
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.
Twenty-six per cent FDI cap in sector is not incorporated in Bill as govt retains flexibility.
A 62-year-old farmer, who was part of the 'Delhi Chalo' agitation, died of heart attack in Khanauri on the Punjab-Haryana border, a farmer leader said on Friday.
The government on Tuesday said it was not considering 100 per cent foreign direct investment in the pension sector.
Days after protests by war veterans, Prime Minister Narendra Modi on Saturday said that his government was committed to One Rank One Pension.
'The committee has been constituted. Different government departments and FSDC members are part of it.'
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.
'Arithmetic could decide the Haryana election given the presence of multi-cornered contests.'
The remark came at an event in Lucknow where he accused Narendra Modi of being a monarch and not a prime minister, calling him a front for 'two-three financiers'.
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.
The supplementary demands for grants include a gross additional spending of over Rs 2 lakh crore, which would be matched by savings of over Rs 1.21 lakh crore.
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.
'We used to get Rs 250 for a Test match, and if the match was over in 4 days, 50 rupees were cut.'
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.
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 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 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 Rajya Sabha chairman asked him to authenticate his assertions and refused to accept newspaper clippings that the Congress leader showed to buttress his points.
'The lack of a majority isn't the issue. He has enough in 240, especially as none of his allies can pull down his coalition.' 'That's why he's started as if this were just another, normal term. That pretence is vital for him.' 'The change for Modi 3.0 comes not from numbers, but from the new environment of contestation,' points out Shekhar Gupta.
This mindless medley of products does not create choice.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
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.
The scarcity of resources is particularly evident in the case of Rajasthan compared to many other states.
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.
The Supreme Court on Monday said the ministry of defence cannot take law in its own hands by issuing communication on payment of One Rank-One Pension (OROP) arrears in four instalments.
