Page 2 - Pension

India ranks 41th spot out of 44 in Mercer CFS Global Pension Index

Mercer CFS Global Pension Index pointed out that the country needs to strengthen its regulatory framework and boost the coverage under private pension arrangements

EPFO in a jam: Why meaningful pension reforms are not moving ahead

Instead of reforms, in many ways, 2022 is showing signs of walk back on pension reforms

How soaring pension load is becoming a big headache for Modi govt

Govt ratifies 8.1% EPF interest rate for 2021-22, lowest in 4 decades

The 8.1 per cent EPF rate of interest is the lowest since 1977-78, when it stood at 8 per cent.

Number of subscribers under PFRDA pension schemes up 23% to 52.3 mn

The number of subscribers under the two flagship pension schemes of PFRDA increased nearly 23 per cent to over 5.23 crore by April-end 2022. The subscriber base of the two schemes combined was 4.26 crore in April last year, Pension Fund Regulatory and Development Authority (PFRDA) data showed. The flagship schemes -- National Pension System (NPS) and Atal Pension Yojana (APY) -- had total asset under management of Rs 7,38,765 crore at April-end 2022, rising by 25.25 per cent from the year-ago period. "The number of subscribers in various schemes under NPS rose to 523.87 lakh by end-April 2022 from 426.75 lakh in April 2021 showing a year-on-year increase of 22.76 per cent," it said. The number of subscribers under APY grew nearly 30 per cent to 3.65 crore by April this year. The rest 1.58 crore subscribers belonged to various categories under NPS -- the pension scheme which mainly caters to the government sector and corporate sector employees. APY is mainly targeted towards provi

Karnataka identifies 3.58 lakh bogus pension beneficiaries, saves Rs 430 cr

The state at present offers nine monthly pensions, including old age, disability, widows, unmarried/divorced women, transgenders, acid attack victims, and endosulfan patients

Single-window portal for pensioners, elders to be set up: Jitendra Singh

Union Minister Jitendra Singh on Tuesday announced the setting up of a single-window portal for benefit of pensioners and superannuated elder citizens.

OROP govt's policy decision, suffers from no constitutional infirmity: SC

The Supreme Court said that One Rank-One Pension (OROP) in Armed forces is a policy decision and suffers from no constitutional infirmity

Delhi govt says entire pension disbursement process to go online

The whole process, from filling the application form to disbursement of pension, will be online.

PFRDA subscriber base rises over 22% to 47.5 million in November

The subscribers in the category of central and state government employees of the National Pension System (NPS) rose by 4.71 per cent and 9.74 per cent, respectively

Pension bills of states cut into municipal budget in the time of Covid

An RBI analysis showed that during the second wave, 22% of municipalities reported revenue loss of an alarming 50% and more

MoD raises income limit of disabled dependents for family pension

The financial benefit will come into effect from February 8, 2021

PFRDA pension subscriber base rises 24% to 4.53 crore till August

The Pension Fund Regulatory and Development Authority (PFRDA) on Friday said subscriber base under its flagship pension schemes rose by 24 per cent in August this year to over 4.53 crore.

Cabinet may take up amendments to PFRDA Act soon; Bill in Winter session

The Union Cabinet is likely to consider amendments to Pension Fund Regulatory and Development Authority (PFRDA) Act, 2013 soon

Gujarat govt hikes Dearness Allowance for staff, pensioners to 28%

The Gujarat government on Monday approved an increase of 11 per cent in Dearness Allowance to state government employees and pensioners with retrospective effect from July 1

EPF contribution of over Rs 2.5 lakh now requires 2 PF accounts

The rules will be effective from April 1, 2022.

Atal Pension Yojna most popular social security scheme under NPS system

Total assets under management (AUM) for the National Pension System schemes saw a year-on-year growth of over 38 per cent

Family pension of bank employees set at 30% of last drawn salary: Govt

PSBs' pension contribution for employees under NPS also hiked to 14%, says DFS secy

Govt has simplified family pension rules in view of Covid: Jitendra Singh

Union Minister Jitendra Singh on Monday said family pension rules have been simplified in view of the COVID-19 pandemic. Giving a brief about the important reforms undertaken by the Department of Pension and Pensioners Welfare (DoP&PW), he said, a provision was recently made for the provisional family pension to be sanctioned immediately on receipt of claim for family pension and death certificate from the eligible family member without waiting for other formalities or procedural requirements to be completed. This provision is applicable in case of death happening during the pandemic, either because of Covid or non-Covid cause, said Singh. In accordance with Rules 80 (A) of the CCS (Pension) Rule 1972, on death of the government servant during service, provisional family pension could be sanctioned to the eligible member of the family, only after the family pension case has been forwarded to the pay and accounts office (PAO), a statement issued by the personnel ministry ...

Govt announces scheme to provide pension for dependents of Covid victims

Family pension to be given to dependents of those who lost their lives due to Covid under ESIC; insurance benefits under the EDLI scheme enhanced and liberalised