Pension In India

Experts say that criterion may increase labour force participation

Launched in August, UPS strikes a balance between Old Pension Scheme (OPS) and New Pension Scheme (NPS), offering government employees a guaranteed pension, post-retirement

The Centre on Thursday told the Supreme Court that it has decided not to accept recommendations for enhancing pension by 10 per cent to retired regular captains of the Army in accordance with the One Rank One Pension scheme (OROP). A bench comprising Chief Justice Sanjiv Khanna and justices Sanjay Kumar and Manmohan was apprised about the non-acceptance of recommendations on pension hike by Additional Solicitor General (ASG) Aishwarya Bhati, who appeared for the Centre. The top court was hearing an appeal of the Centre challenging an order of December 7, 2021 of the Armed Forces Tribunal (AFT) at Kochi. According to the AFT order, the central government was to take a decision on the pension payable to the retired regular captains. "We have made a decision and we have not accepted the recommendations," the ASG said. The bench then asked the counsel appearing for retired Army captains including M Gopalan Nair, who are fighting for enhanced pension, to challenge the non-acceptance of

The Unified Pension Scheme aims to balance fiscal policy with employee benefits and combines a defined benefit pension similar to the Old Pension Scheme with the contributory nature of the NPS

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Saw 158,212 new subscribers last year compared to 201,517 during 2022

A large number of government employees in Nagaland took to the streets on Friday, demanding scrapping of the new pension scheme' and restoration of the earlier system. State government employees recruited after 2010, the year the new pension scheme was implemented, converged at the civil secretariat junction here under the aegis of the Nagaland National Pension System Government Service Employees' Forum (NNPSGSEF). NNPSGSEF president Moanungsang said the peaceful dharna was held to stand in solidarity with the national strike organised by the All India State Government Employees Federation (AISGEF). He said the forum had submitted a representation to the state government in September 2023, but there has been no response. NNPSGSEF said the old pension scheme provided social security to employees with guaranteed life-time reasonable pension. However, the new scheme does not provide social security and guarantees lower pension per month to long-surviving pensioners, it claimed.

Withdrawal made during tenure for other goals will erode retirement corpus

This week we explain what a tax-saving investment must do and how to read the fine print of pension plans

The digitised pension processing system, SPARSH, offers online pension-related facilities to over 3 million pensioners from 50 organisations

The Maharashtra cabinet on Thursday cleared a proposal that offers an option of availing the Old Pension Scheme (OPS) to the state government employees who joined the service after November 2005. The decision comes days after the government as well as semi-government employees and officials went on a strike to press for their demand of restoring the OPS. The cabinet gave its nod to the proposal that offers an option of the OPS to the state employees who joined the service post-November 2005, the Chief Minister's Office (CMO) said. Talking to PTI, Vishwas Katkar, general secretary of the Maharashtra state employees' confederation, said, "The cabinet's decision will benefit some 26,000 state government employees who were selected before November 2005 but received joining letters later. This decision will benefit only these 26,000 state employees." There are as many as 9.5 lakh state employees who joined the service before November 2005 and they already enjoy the benefits of the OPS.

The female employee will be eligible to nominate their children to receive family pension before the spouse if there is a pending divorce, domestic violence or dowry case in any court

Prime Minister Narendra Modi on Wednesday accused the Congress of dragging its feet on implementation of the One Rank One Pension (OROP) scheme for defence forces and said it was his government that executed the policy and has so far deposited Rs 70,000 crore into the bank accounts of eligible retired personnel. The PM said his government opened the doors of Sainik Schools for girls and facilitated the deployment of women officers in forward areas. The Congress did not fulfil the demand for OROP implementation and earmarked just Rs 500 crore for it despite knowing well that the amount was very less. When the BJP came to power at the Centre in 2014, it fulfilled the long-pending demand of ex-servicemen and so far, the government has paid Rs 70,000 crore to them under the scheme, Modi maintained. OROP means soldiers of the same rank and the same length of service get the same pension, irrespective of their retirement date. The BJP's star campaigner was addressing a public meeting in

The Congress party has begun its campaign in Telangana with the promise of financial aid to students and special assistance to women, including LPG cylinders at Rs 500 and Rs 2,500 per month

The minister said that there is no proposal to increase the amount of minimum pension/ family pension

The Employees' Pension Scheme (EPS) application deadline will end on July 11, which is today i.e. Tuesday. However, a lack of clarity has left many people confused

The NPS data showed the new subscribers under the state governments fell by 42 per cent to 38,909 in April from 66,640 in March

New chairman of PFRDA Deepak Mohanty tells Indivjal Dhasmana that systematic withdrawal plan as permissible under the current statute would soon be introduce

Under this scheme, the burden of funding pensions fell on the government with no contribution from the employees

The government has announced setting up of a four-member committee to review the National Pension Scheme (NPS)