Pension Schemes

The latest instance of malpractice was reported from the Kottakkal Municipality in Malappuram district of Kerala, where a targeted audit revealed 38 out of 42 pension recipients were ineligible

This week we write about how white-collar freelance professionals can build a retirement corpus and what to look for in an electric car

The gross enrolments under the Atal Pension Yojana have crossed the 7 crore mark, the Pension Fund Regulatory and Development Authority said on Tuesday. This is the 10th year of the rollout of the Atal Pension Yojana (APY). The scheme was launched on May 9, 2015, to create a universal social security system for all Indians, especially the poor, underprivileged and workers in the unorganised sector. The total gross enrolments under the scheme have crossed 7 crore, with an enrolment of over 56 lakh members in the current financial year 2024-25, the Pension Fund Regulatory and Development Authority (PFRDA) said in a statement. This feat of bringing in the most vulnerable sections of society under the coverage of pension has been made possible with the untiring efforts of all the Banks and SLBCs, it said.

Scheme gives access to a variety of investment options but may not suit people who desire liquidity in their investments

About 9,700 minor subscribers have been enrolled under NPS Vatsalya on the day of the launch of the scheme earlier this week. The scheme, regulated and administered by the Pension Fund Regulatory and Development Authority (PFRDA), provides an opportunity to parents and guardians to start saving for their children's retirement early by harnessing the power of compounding, marking a significant milestone in India's evolving pension landscape. In a landmark government initiative aimed at securing the financial future of India's youth, Finance Minister Nirmala Sitharaman officially launched the NPS Vatsalya Scheme on September 18, fulfilling a key Union Budget 2024-25 announcement. 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 (PoPs) and thee-NPS portal, PFRDA said in a statement on Friday. Out of this, 2,197 accounts were opened through e-NPS portal alone, it

NPS-Vatsalya scheme is designed as a variant of the existing National Pension System (NPS), specifically tailored for younger individuals

Proposal requires estimating liability on account of benefit under the PM-SYM scheme

Deferred annuity payouts, single and joint plans, 'lifetime income' other schemes explained

Yoon said there had been a loss of confidence in the pension system across generations

Meanwhile, All India Trade Union Congress (AITUC) and Centre of Indian Trade Unions (CITU) have rejected the scheme and demanded the restoration of OPS

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

Existing as well as future employees will also have an option of joining the New Pension Scheme (NPS) or UPS

The Congress on Sunday took a jibe at the Centre over its announcement of the Unified Pension Scheme, saying the 'U' in UPS stands for Modi government's "U-turns". The opposition party's swipe came a day after the Union Cabinet approved an assured pension of 50 per cent of salary for those who joined the service after January 1, 2004, under the National Pension System (NPS). Fulfilling long pending demands of government employees ahead of assembly elections in Haryana and Jammu and Kashmir, the Cabinet meeting, chaired by Prime Minister Narendra Modi, approved the Unified Pension Scheme (UPS), which assures guaranteed pension. Taking a dig at the government, Congress president Mallikarjun Kharge said, "The 'U' in UPS stands for Modi Govt's U turns! Post June 4, the power of the people has prevailed over the arrogance of power of the Prime Minister." "Rollback in the budget regarding Long Term Capital Gain/Indexation. Sending Waqf Bill to JPC. Rollback of Broadcast Bill. Rollback o

Prime Minister Narendra Modi said Saturday the Unified Pension Scheme ensures dignity and financial security for government employees, aligning with the government's commitment to their well-being and secure future. His remarks came after the Union Cabinet approved an assured 50 per cent of salary as pension for 23 lakh government employees who joined service under the National Pension System (NPS). The National Pension System is applicable for government employees joining the service after April 1, 2004. It was based on the premise of contribution rather than defined benefit applicable for employees prior to the NPS. "We are proud of the hard work of all government employees who contribute significantly to national progress. The Unified Pension Scheme ensures dignity and financial security for government employees, aligning with our commitment to their well-being and a secure future," Modi said in a post on X. Announcing Cabinet decisions, Union Information and Broadcasting Minist

The meeting coincided with the BJP-led central government's approval of the Unified Pension Scheme (UPS), which includes Assured Pension and Assured Family Pension

Regular pay, single pay and single pay deferred annuity schemes explained for your convenience

The fund based on market outlook, aims for steady returns through active management, diversification, and a blend of growth and value investing

Regular pay, single pay and single pay deferred annuity schemes explained for your convenience

Trade Unions also suggested stopping the privatisation of public sector undertakings

Constitution of the 8th pay commission, increase in tax rebate for salaried class and restoration of the old pension scheme are some of the key demands made by trade union leaders during a pre-budget meeting with Finance Minister Nirmala Sitharaman on Monday. The unions also asked the government to stop the privatisation drive of PSUs, scrap the new pension scheme and restore the old pension scheme (OPS). "The ceiling limit for the income tax rebate for the salaried class on their salary and gratuity must be substantially raised. Government-sponsored social security fund for the unorganised workers and agricultural workers has to be set up to provide them with defined universal social security schemes including minimum pension of Rs 9,000 per month and other medical, educational benefits," the CTUs said in their memorandum. Besides, they have sought that all the existing vacancies in the central government departments and PSUs must be filled immediately and the practice of contract