Page 2 - Government Pension

After farmers, railway unions threaten protests from May 1: Here's why

Several unions of railway employees have announced that they might bring a halt to all train services from May 1 if their demand of reinstating the Old Pension Scheme is not met

Managing pension corpus, life in retirement: Top personal finance stories

Our top stories this week tell you how to add years to your finances and the best senior living societies

Interim Budget may raise pension floor for unorganised sector workers

PFRDA says current amount may not help attract new Atal Pension subscribers

Govt pension portal for defence personnel SPARSH suffers data breach

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

Female govt employees may now nominate child for pension before husband

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

Around 50,000 to stage protest in Delhi to demand hike in minimum pension

Employees' Pension Scheme 1995 (EPS-95), an association of pensioners, will organise a rally in the national capital to press the government to hike minimum pension under the scheme. Presently, the minimum pension under the EPS-95 is Rs 1,000 per month. The EPS-95 is run by retirement fund body Employees' Provident Fund Organisation (EPFO). "The EPS-95 pensioners are steadfast in their resolve to secure a minimum pension of Rs 7,500, dearness allowance, and additional benefits outlined in the EPFO's letter dated 23.03.2017," Rashtriya Sangharsh Samiti said in a statement. The Rashtriya Sangharsh Samiti will organise a rally at Ramlila Maidan in Delhi on December 7, and about 50,000 pensioners from across the nation will unite to demand an increase in minimum pension, the statement said. Following the mammoth rally, a fast unto death is scheduled at Jantar Mantar starting from December 8, the statement said. President of the samiti Commander Ashok Raut, General Secretary Virendra S

Pension amount of destitute women will be increased in near future: UP CM

He also mentioned that the government has decided to increase the amount from Rs 15,000 to Rs 25,000 from the next financial year under Chief Minister Kanya Sumangala Yojana

Ahead of polls, govt likely to unveil new pension model for staff: Report

A source said that the pension for government staff under the tentative model will be adjusted for inflation only every five or ten years

CM Bhupesh Baghel launches scheme for pension to construction workers

Under this, construction workers who have been registered for ten years and have completed 60 years of age, will be given a pension assistance of Rs 1,500 per month for life

NPS adoption by central public sector enterprises declines slightly in Apr

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

With fewer than 15 days to deadline, check how to apply for higher pension

Those willing to apply for a higher pension under EPS can do so until June 26, 2023

Implementation of guaranteed pension product delayed as talks continue

Pension regulator wants to make the product attractive for subscribers, sources say

Need to debate if OPS will create economic crisis: RS deputy chairman

Rajya Sabha Deputy Chairman Harivansh on Monday underscored the potential economic ramification of going back to the old pension scheme (OPS) that was shelved by the National Democratic Alliance government headed by Atal Bihari Vajpayee nearly two decades ago. The talk of restoring the OPS for the sake of power is on. Society should debate whether such moves would create an economic crisis in the country akin to Sri Lanka and Pakistan, he said at a lecture series on Challenges in New Era. Harivansh said that the NDA government led by Vajpayee scrapped the OPS on April 1, 2004, and introduced the National Pension Scheme (NPS). Under the OPS, an employee gets 50 per cent of the last drawn monthly salary as pension as against the NPS which is a market-linked scheme. Now, for the sake of power, there is talk of reverting to OPS because government employees are organised, and thus, they form a significant vote bank, he said. The five states that have restored the OPS have been burdened

More than 52.5 mn subscribers enrolled in Atal Pension Yojana: FinMin

Over 5.25 crore subscribers have enrolled in Atal Pension Yojana (APY), the government's flagship social security programme launched eight years ago, the finance ministry said in a statement. The scheme was launched on May 9, 2015, by Prime Minister Narendra Modi with the objective of delivering old-age income security to all citizens of India, particularly to the workers in the unorganised sector. "The scheme has been implemented comprehensively across the country, covering all states and Union Territories with total enrolments crossing the mark of 5.25 crore," the ministry said in the statement. APY enrolments have continuously shown an increasing trend since its inception, it added. In new enrolments, there has been a growth of 20 per cent in 2022-23 over 2021-22. As of date, the total assets under management (AUM) in APY is more than Rs 28,434 crore and the scheme has generated an investment return of 8.92 per cent since inception of the scheme. The ministry further said this

Complying with SC directive, govt clarifies pension on higher wages

In accordance with the letter and spirit of the EPF and MP Act and the code, the government decided to draw an additional contribution of 1.16% from employees

Would be premature to say if people have appetite for MARS: PFRDA's Mohanty

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

India's pension scheme review must prioritise fiscal prudence: Economists

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

Maharashtra govt employees on strike for OPS amid appeals from CM Shinde

Lakhs of Maharashtra government employees on Wednesday continued their strike on the second day to demand the restoration of the Old Pension Scheme (OPS), a day after Chief minister Eknath Shinde appealed to them to resume work. Smooth functioning in government hospitals and offices was affected due to the agitation. Vishwas Katkar, the convenor of the committee of nearly 35 state government employees, semi-government employees and teachers, said employees from 36 districts have joined the ongoing strike. He rejected Shinde's appeal made in the Assembly on Tuesday and insisted that their demands be met. On Monday, Shinde had also announced a panel comprising senior bureaucrats to look into the demand of state government employees to revert to the Old Pension Scheme. The panel will give its report in a time-bound manner, he said. Katkar said the state government employees held similar protests in 2018, following which a panel was formed but there was no movement on its report. The .

Amount provided under old age pension increased to Rs 1,500: CM Dhami

Uttarakhand Chief Minister Pushkar Singh Dhami on Tuesday said that his government has increased the amount given under old age pension to Rs 1500 from Rs 1200

OPS adoption may benefit current generation at cost of future generations

Pension payments as a percentage of revenue receipts of states increased from 2 per cent in 1980-81 to 11 per cent in 1999-2000