Pension Schemes

Retirees ask FM for Rs 7,500 minimum monthly pension under EPS-95

A delegation of EPS-95 pensioners met Finance Minister Nirmala Sitharaman on Friday to press for their long-pending demand for a minimum monthly pension of Rs 7,500 along with dearness allowance (DA). Under the EPS-95 or Employees Pension Scheme 1995 run by retirement fund body EPFO, the existing minimum monthly pension is Rs 1,000. According to a statement issued by EPS-95 National Agitation Committee, the finance minister has conveyed to the delegation that their demands would be reviewed and addressed in a sympathetic manner. Commander Ashok Raut, National President of the committee, highlighted the plight of over 78 lakh pensioners from central and state government PSUs, private organizations, and factories across the country. Pensioners have been agitating for over 7-8 years for an increase in the minimum pension from Rs 1,000 to Rs 7,500, along with DA and free medical treatment for both the pensioner and their spouse. "Finance Minister Nirmala Sitharaman has said that the .

Kerala pension fraud: Officials uncover BMW owners among beneficiaries

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

Pension for gig workers; choosing an EV: Top personal finance stories

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

In 10th yr of launch, enrolments under Atal Pension Yojana touch 70 mn mark

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.

NPS Vatsalya: Pension plan that starts early for child's financial security

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

More than 9,700 minor subscribers enrolled under NPS Vatsalya on first day

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

FM Nirmala Sitharaman to launch NPS-Vatsalya scheme on September 18

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

Actuarial valuation of unorganised sector pension scheme in offing

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

Pension plans of various companies, terms, fees put together in one table

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

South Korea's Prez pledges urgent reform of $830 bn public pension fund

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

UPS evokes mixed response from unions; BMS supports it, others don't

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

What is the new Unified Pension scheme and how is it different from NPS?

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

Cabinet nod to assured 50% of salary as pension for central govt employees

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

Unified Pension Scheme: U in UPS stands for Modi govt's U-turns, says Cong

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

UPS ensures dignity, financial security for govt employees, says PM Modi

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

PM Modi meets Joint Consultative Machinery for govt employees' delegation

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

Pension plans of various companies, terms, collected in one table

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

Ageas Federal launches 'Golden Years Pension Plan' for secure retirement

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

Pension plans of various companies, terms, fees put together in one table

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

Trade unions demand scrapping of labour codes, restoration of OPS

Trade Unions also suggested stopping the privatisation of public sector undertakings