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What is pension scheme?

pension scheme

About pension scheme

What is pension scheme?

A pension scheme is a long-term savings plan that helps people save money for the future and it is a tax-efficient way to save money during your working life.
 
Over a period of 40-50 years, a pension scheme ensures an adequate corpus to deal with rising medical bills and expenses and a higher cost of living, driven by the country's inflation.
 
The amount of money saved into a pension scheme account is referred to as ‘contributions’. A pension scheme allows us to invest regular payments or transfer a lump sum amount into a pension fund account for retirement planning. When the policyholder
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Latest Updates on pension scheme

Trade unions condemn order prohibiting govt staff to go on strike

Following the DoPT order, the Department of animal husbandry and dairying had issued an order cautioning its employees of participating in the protests

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Updated On : 23 Mar 2023 | 10:49 PM IST

Deposits, pension scheme: Investments you should make before March 31

Non-linked policies must be availed of by that deadline to earn tax-free return without cap

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Updated On : 22 Mar 2023 | 9:37 PM IST

Supreme Court fixes deadline to pay Rs 28k crore arrears under OROP scheme

Reducing the time limit to February 28, 2024, the SC bench headed by CJI Chandrachud gave the schedule for payment of arrears to different groups of pensioners under the OROP scheme

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Updated On : 20 Mar 2023 | 2:40 PM IST

Old pension scheme bad for India: PFRDA ex-boss Supratim Bandhyopadhyay

"The old pension scheme is like accepting a post-dated cheque of a bank that is bound to fail"

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Updated On : 05 Mar 2023 | 11:13 PM IST

EPFO link programmed to deny benefits of SC order on higher pension: Union

The letter also highlighted "practical problems" being faced by the pensioners who are opting for higher pension options and said that the commissioner should take immediate action

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Updated On : 04 Mar 2023 | 12:07 PM IST

France prepares for 5th day of nationwide protests against pension reform

This latest round is expected to be less disruptive that on previous occasions, with the Paris Metro working normally and most schools unaffected

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Updated On : 16 Feb 2023 | 3:45 PM IST

Volume IconTMS Ep369: Inflation, investor protection, new-age tech stocks, Pension

Is retail inflation back to haunt us? What does Adani saga teach us about investor protection? Is it time to bet on new-age tech stocks? What is Andhra's Guaranteed Pension Scheme? All answers here

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Updated On : 15 Feb 2023 | 8:00 AM IST

Coal miners' pension unrevised due to shortfall in accrual of pension fund

No revision in 25 yrs due to resistance from central trade union representatives, says coal minister

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Updated On : 09 Feb 2023 | 9:51 AM IST

Old vs New: No early retirement for debate on pension as elections loom

The economics and politics behind the old versus new pension scheme as elections loom

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Updated On : 05 Feb 2023 | 11:51 PM IST

Tax cut, restoration of OPS on citizens' Budget wish list this year

Halwa ceremony tomorrow will mark the final preparations

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Updated On : 25 Jan 2023 | 11:03 PM IST

A first: Atal Pension Yojana logs 10 million enrolments in a calendar year

The number of enrolments in 2022 rose to 12.5 million from 9.2 million in 2021

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Updated On : 22 Jan 2023 | 10:43 PM IST

Rajasthan govt firm on decision to revive Old Pension Scheme: CM Gehlot

He said the employees are an integral part of the state government and play an important role in taking the benefits of public welfare schemes run by the government to the last mile

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Updated On : 19 Jan 2023 | 7:13 AM IST

RBI advises states against reverting to old pension scheme, says big risk

Himachal Pradesh, Chhattisgarh, Rajasthan and Punjab have decided to roll out the old pension scheme

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Updated On : 17 Jan 2023 | 10:22 AM IST

Rahul Gandhi lauds Himachal govt's decision to restore Old Pension Scheme

Taking to Twitter, Gandhi said the Congress had brought back the OPS in Rajasthan, Chhattisgarh and now Himachal Pradesh

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Updated On : 15 Jan 2023 | 9:51 PM IST

Himachal Pradesh restores old pension scheme for 136,000 employees

The just over a month old Congress government in Himachal Pradesh on Friday fulfilled a key poll promise, with the Cabinet, at its first meeting, deciding to provide OPS to all government employees

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Updated On : 13 Jan 2023 | 11:45 PM IST

Unfunded pension schemes are attack on future generations: EAC-PM member

Sanjeev Sanyal was responding to a question on some opposition-ruled states' decision to switch to Old Pension Scheme (OPS)

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Updated On : 26 Dec 2022 | 11:03 PM IST

Revision of pension of armed forces personnel commendable move: CM Yogi

Pension of past pensioners would be re-fixed based on the average of minimum and maximum pension of defence forces retirees of the calendar year 2018 in the same rank with the same length of service

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Updated On : 24 Dec 2022 | 3:00 PM IST

Old pension scheme will put burden of Rs 1.10 trn on exchequer: Fadnavis

Maharashtra Deputy Chief Minister Devendra Fadnavis said the govt will not revert to the old pension scheme as it would put a burden of Rs 1.10 trn on the exchequer and lead to bankruptcy of the state

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Updated On : 21 Dec 2022 | 2:24 PM IST

Development took place even when old pension scheme was in place: Gehlot

Gehlot called upon other states to revive the old pension scheme and also demanded a uniform policy for social security in the entire country

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Updated On : 17 Dec 2022 | 7:52 PM IST

No proposal with government to restore old pension scheme, says minister

There is no proposal under the Central government's consideration to restore the old pension scheme, the Parliament was told on Monday

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Updated On : 13 Dec 2022 | 8:00 AM IST