Some premature military retirees may get OROP

Defence Minister Manohar Parrikar said the government was reconsidering denial of one rank one pension scheme(OROP) to all military personnel who opt for premature retirement(PMR) from service.The government wants to differentiate between voluntary retirement foe better prospects and PMR in the interest of the army. A judicial commission has also been set up to look

Pvt sector NPS subscribers can invest in AIFs

In a move that could augment flow of funds to the nascent alternative investment funds (AIFs) industry, the pension Fund Regulatory and Development Authority (PFRDA) has allowed private sector subscribers under the National Pension System(NPS) to invest up to 2% of their corpus in the tax efficient AIFs , its chairman Hemant G Contractor said.

Govt to provide Rs 1.10 lakh cr for OROP, pay panel proposals

The centre has to provide for about Rs. 1.10 lakh crore in 2016-17 to implement the recommendations of the Seventh Pay Commission and the one rank one pension (OROP) scheme, finance minister Arun Jaitly said on Friday, ending speculation about the rollout of the panel’s suggestions. In November, the Seventh Pay Commission had recommended an

NPS penetration not up to the desired level

HDFC Life MD & CEO Amitabh Chaudhary, whose company is one of the fund mangers under NPS, said NPS penetration has not reached the desired level as expected in the country due to various reasons including low awareness, low packages, as well as inability to reach the untapped segment.Also, the reason why it is not

PFRDA to allow online exit from NPS scheme from Apr 1

In a move aimed at making the exit process easier under the National Pension System(NPS), regulator Pension Fund Regulatory and Development Authority(PFRDA) will allow subscribers to withdraw from the scheme via on line mode from April 1 2016, said chairman Hemant G Contractor. PFRDA is constantly striving to improve the risk / reward profile of

Some premature military retirees may get OROP

Defence Minister Manohar Parrikar said the government was reconsidering denial of one rank one pension scheme(OROP) to all military personnel who opt for premature retirement(PMR) from service.The government wants to differenciate between voluntary retirement foe better prospects and PMR in the interest of the army. A judicial commission has also been set up to look

NPS ASSETS REGISTER GROWTH

The NPS assets under management has registered nearly 37% growth to 1.1 lakh crore as on December 31 from Rs. 80,855 crore at end March 2015. The total number of subscribers under NPS has increased 32% from 8.74 million as on March 31 , 2015 to 11.54 million in the current financial year up to

Pvt sector NPS subscribers can invest in AIFs

In a move that could augment flow of funds to the nascent alternative investment funds (AIFs) industry, the pension Fund Regulatory and Development Authority (PFRDA) has allowed private sector subscribers under the National Pension System(NPS) to invest up to 2% of their corpus in the tax efficient AIFs , its chairman Hemant G Contractor said.

LOW DEPOSIT-RATE WITH LOW-INFLATION BETTER FOR PENSIONERS-RBI GOVERNOR

Low interest rates in a low inflation period might not be as bad as pensioners consider those, according to RBI governor Raghunath Rajan. The governor pointed out that industrialists grumble about high rates while retirees complain about low rates they get on deposits .” Both overstate their case, though as I have said repeatedly, the

NPS SERVICE WEEK TO CREATE AWARENESS

The finance ministry said that to attract more subscribers towards the government pension plans, the Pension Fund Regularity and Development Authority (PFRDA) will observe the NPS service week from February 1-6, 2016. PFRDA in collaboration with all its intermediaries in the National Pension System– central and state governments nodal offices, points of presence, aggregators, central