What is pension scheme?

Seven states even saw decline, says RBI's 'Handbook of Statistics on Indian States'

In CPPS, there will be no need for pensioners to visit the bank for any verification at the time of commencement of pension and the pension shall be immediately credited upon release, ministry stated

The Department of Pension and Pensioners' Welfare (DoPPW) has launched the third nationwide digital life certificate (DLC) campaign, which is being held in 800 cities and districts across the country

Pension Parishad shared testimonies from affected pensioners, including the elderly, disabled, and widowed individuals who have been denied their pensions due to various administrative and digital bar

Cabinet Secretary TV Somanathan has been holding regular meetings with key ministries and departments to ensure a smooth transition from NPS to UPS

On the day of the launch, NPS Vatsalya received an overwhelming response, as 9,705 minor subscribers have been enrolled under the scheme through various Points of Presence

In this week's newsletter we write about NPS Vatsalya and investing in mixed media artwork

The UPS is seen to be different from OPS since it is funded every year and the burden does not fall on future governments.

Experts attribute this increase in beneficiaries to the stagnation in wages of workers and high inflation, leading to lower contributions from subscribers

By harnessing advanced IT and banking technologies, it will offer a more efficient, seamless, and user-friendly experience for pensioners

He attended an event where wrestler Aman Sehrawat, who won a bronze medal at the Paris Olympics, was felicitated in Birohad village in Jhajjar

Mothballing the lateral-entry scheme and launching the modified pension plan show how governance style can make a difference

The new modified pension scheme is better than OPS, but switching to NPS was one of the biggest reforms in recent decades and would have benefited the country in the long run

Various railway employee unions had been at the forefront of protests against the NPS and the demand for the restoration of OPS

Employees could choose the investment plan of their choice based on their contribution and 10% contribution by the government

Under the unified system, employee contributions will remain unaltered at 10% of basic pay plus dearness allowance

Unified Pension Scheme is set to be implemented from April 1, 2025, and is expected to benefit around 230,000 central government employees

Sai talks about implementation of "Modi's guarantees" in state, OPS reintroduced by the previous Congress government, and the steps taken to curb the liquor business

Some 8.7 mn central, state government employees enrolled in NPS since 2004 could benefit

The Modi govt has set up a committee led by Finance Secretary T V Somanathan in 2023 to explore ways to improve pension benefits under the NPS after states began reverting to OPS