Page 4 - Pensions

Best of BS Opinion: Reform reversal, the NPS challenge, and more

Here are the Best of BS Opinion for the day.

Reform reversal

States should not go back on pensions

Govt sanctions Rs 3,274 cr for freedom fighters pension scheme till 2026

The Centre has approved an allocation of Rs 3,274.87 crore for the continuation of the Swatantrata Sainik Samman Yojana (SSSY)

Rajasthan's pension outgo has risen faster than other states, UTs: RBI data

Revised estimate on Rajasthan govt's fiscal deficit is seen to have worsened to 6.12% of GSDP in 2020-21, according to a note from Delhi-based PRS Legislative Research

Don't bank just on EPS as its pension payouts are paltry, say analysts

At present, it is mandatory for employees who earn a basic salary plus dearness allowance (DA) of up to Rs 15,000 to enrol in EPS

NPS subscribers can soon switch asset allocation 4 times in a year

Currently, the subscribers under the NPS scheme are allowed to change the investment pattern twice in a financial year

Time limit for life certificate submission by pensioners extended to Dec 31

The decision was taken in view of the ongoing Covid-19 pandemic

Joint bank account not mandatory for spouse pension, says govt

A joint bank account with spouse is however desirable, the govt said

Don't delay retirement planning; estimate corpus as first step: Experts

Use a mix of equity funds, PPF, EPF and NPS; review and correct course periodically

Indian pension system ranked 40th among 43 systems: Mercer study

The Indian pension system ranked 40th on overall index ranking out of 43 systems, and had the lowest rank in the adequacy sub-index, according to a study

Assam CM issues directions for smooth disbursal of pension in the state

Himanta Biswa Sarma Sunday issued directions to officials for smooth disbursal of pension to state government employees

PFRDA kick-starts pension awareness campaign; observes NPS Diwas on Oct 1

Ahead of NPS Diwas next month, pension regulator PFRDA has kick-started a campaign to create awareness about the need for a pensioned society in the country.

Pensioners body seeks PM intervention in release of DA, DR arrears

Bharatiya Pensioners Manch (BMS) has sought intervention of PM for the release of dearness allowance (DA) and dearness relief (DR) arrears for central govt employees and pensioners at the earliest

A joint forum of pensioners named NCPO formed to raise key issues

The camp office of the NCPO will be at Delhi.

Those joining NPS after 65 yrs of age can take up to 50% equity exposure

Any Indian citizen and Overseas Citizen of India (OCI) in the age group of 65-70 years can also join NPS and continue up to the age of 75 years

Employees' pension scheme: SC refers pleas against HC order to larger bench

The Supreme Court referred the pleas challenging the 2018 verdict of the Kerala High Court which had set aside the Employees' Pension scheme 2014, to a larger three-judge bench for adjudication.

'NPS' non-govt subscriber base crosses 3 mn-mark; corpus to hit Rs 1 trn'

The corporate and retail sector subscriber base under the NPS has crossed over 30 lakh as on date, and the corpus under these is about to reach a landmark Rs 1 lakh crore-mark, PFRDA Chairman said

Deeply disturbed over changes in pension rules: Ex-civil servants to PM

The former civil servants said they were unable to understand why there was a need for such an amendment to the Central Pension Rules

PFRDA pension subscribers' base jumps to over 43.5 million at end of June

PFRDA has registered a 24 per cent jump in its subscribers' base under two flagship pension schemes to more than 43.5 millions at the end of June.

Proposed NPS tweaks will offer greater flexibility, say analysts

But systematic withdrawal plan carries risk that retirees may overdraw