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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

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

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
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

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
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
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
Updated On : 17 Dec 2022 | 7:52 PM IST
Updated On : 13 Dec 2022 | 8:00 AM IST