Page 2 - Retirement

EPFO adds 1.8 mn subscribers in July, posts 24% YoY rise, shows data

Retirement fund body EPFO added 18.23 lakh new subscribers in July 2022, registering a 24.48 per cent rise as compared to the year-ago period, according to official data. The provisional payroll data of Employees' Provident Fund Organisation (EPFO) released on Tuesday highlighted that of the total new members added in July, around 10.58 lakh members have come under the social security cover of EPFO for the first time, a labour ministry statement said. The data of new members joining EPFO has shown a growing trend since April 2022, it said. Out of 10.58 lakh new members added, approximately 57.69 per cent are in the age group of 18-25 years. This shows that first-time job seekers are joining the organised sector workforce in large numbers following their education and new jobs in the organised sector are largely going to the youth of the country. During the month, around 4.07 lakh members exited from the ambit of EPFO and 11.72 lakh members exited and rejoined EPFO. These members ha

T20 WC winner Robin Uthappa announces retirement from all forms of cricket

The right-handed batter said it has been "greatest honour" to represent India and Karnataka during this illustrious career.

Suresh Raina retires from all formats of cricket, including IPL

The 35-year-old had already ended his international cricket on August 15, 2020, hours after Mahendra Singh Dhoni decided to call it a day

Why saving enough for retirement is difficult

Longevity risk, taxes, financial repression, unexpected high inflation, career risk, and psychological factors make it very difficult to save enough for retirement

6-mth residence, 1-yr security: Govt amends rules for benefits to SC judges

Retired Chief Justice or retired judges shall be entitled to a security cover round the clock at residence in addition to round the clock personal security guard for a period of one yr from retirement

SA opener Lizelle Lee bids adieu to int'l cricket with immediate effect

South Africa opener Lizelle Lee on Friday announced her retirement from all forms of international cricket with immediate effect. Lee, 30, made her international debut in 2013 against Bangladesh

Eoin Morgan retires, draws curtains on glorious international career

After England's dismal failure at the 2015 Cricket World Cup, Morgan spearheaded the team's white-ball transformation to a bold, attacking approach and unprecedented heights.

Cryptocurrencies becoming a popular option in US to fund retirement

Some 27% of Americans aged 18-60 - around 50 million people - have owned or traded crypto in the past six months, a poll published last week by crypto exchange KuCoin found

India's retirees tap savings, cut down expenses as living costs soar

Sharply rising prices are hitting older people the world over as global supply problems caused by the pandemic -- and made worse by the Ukraine war -- propel food and fuel costs higher

EPFO adds 1.41 million subscribers in February, 14% increase from last year

According to the statement, the month-on-month comparison of payroll data reflects a slight increase of 31,826 net subscriber addition in February, 2022 compared to January, 2022

What is One Rank, One Pension?

The Supreme Court on March 16th upheld the 'one rank, one pension' scheme launched in 2015 and declined to interfere with the policy. Our next report takes a deep dive into the scheme

Avoid financial dependence on children post retirement

Making adequate provision for your spouse and yourself for a prolonged period of retirement must take precedence over distributing your wealth among your children

Challenge for EPFO as gap between govt yields and scheme's returns widen

EPFO invests mostly in central and state govt securities. Its earnings from these instruments are largely used to pay interest to its subscribers

AP issues ordinance raising retirement age of govt employees from 60 to 62

The Andhra Pradesh government on Monday enhanced the retirement age for its employees by two years to 62.

Ohio retirement fund sues Facebook, blames investment loss on website

Facebook said it was looking out for our children and weeding out online trolls, but in reality was creating misery and divisiveness for profit, Ohio Attorney General Dave Yost said in a statement.

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

Infosys COO Pravin Rao set to retire, co to announce new structure soon

Infosys on Wednesday said its Chief Operating Officer Pravin Rao will be retiring in the third quarter of the current fiscal and the company will announce a new corporate structure soon.

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

Split portfolio into various segments to keep cash flow at retirement

Use equities to keep your wealth growing, fixed-income instruments and annuities to generate cash flow

Over 81K paramilitary personnel took voluntary retirement since 2011: MHA

More than 81,000 personnel of the paramilitary forces such as the CRPF and the BSF have taken voluntary retirement in the last decade, the maximum of over 11,000 in 2017 alone.