The Pension Fund Regulatory and development Authority to organise NPS service week from Feb 1-6

Pension fund regulator PFRDA will organise a week-long service-oriented campaign, aimed at building awareness and improving information dissemination towards flagship National Pension System (NPS) , from February 1. The PFRDA, which will be completing two years of its statutory status on February 1, has observed that the subscribers/ employees in state governments as well as

PAY panel bonanza for pensioners–Begins Jan 1, 2016, OROP-like pension for civil staff too

The Seventh Central Pay Commission has recommended a 23.55% increase in pay and pension benefits to 4.7 million government employees and 5.2 million retired employees.That means an additional payment of Rs.1.02 lakh crore of which the railways account for Rs. 28,450= crore.The lowest salary has been hiked from the earlier Rs.7,000=to Rs.18,000= while a cabinet

All OROP DEMANDS CANNOT BE FULFILLED

The military veterans are continuing their protest against what they say is “a diluted lame duck” one rank one pension scheme as notified by the government. On the other hand, the government is of the view that the judicial commission to be set up would look into the problems and anomalies arising out of the

Govt rolls out OROP: EX-SERVICEMEN ANGRY OVER CENTRE FAILING TO RESOLVE ANOMALIES IN SCHEME

The government on Saturday (07-11-15) night notified the OROP scheme for over 24 lakh ex-servicemen and six lakh widows around the country, which will entail an additional out go of around Rs.8,000-10,000 crore every year. The government has also decided that personnel who opt for discharge henceforth on their own request will not be entitled

Canada Pension Plan Investment Board opens first investment office in India

Mark D Wiseman, president and chief executive officer, CPPIB, opened its first investment office in Mumbai in India on 27th October, 2015. CPPIB has net assets of C$268.6 billion , as on June 30, 2015, making it Canada’s largest single- purpose pension fund and ranking among the 10 largest retirement funds in the world today.

Weak finances may lead to deferment of OROP scheme

The center’s weak finances may force it to defer the implementation of the One Rank,One Pension, scheme for the armed forces to the next financial year. Under OROP, a uniform pension will be paid to armed forces personnel, who retire at the same rank after the same length of service, regardless of the date of

Steps to invest in the NPS: THE PFRDA HAS MADE IT SIMPLE

As a first step, you need to register yourself with the NPS . Get an application form from a Point of Presence Service Provider or download it from the NSDL website- NPSCRA. Fill the form and submit it at a nodal office of an POP-SP. 1)DOCUMENTS NEEDED-you need to submit copies of proof of identity

Govt to look into hiking equity investment proposal:PFRDA

The Pension Fund Regulatory and Development Authority of India (PFRDA)has sought approval from the finance ministry to raise the limit of government employees” pension funds in the stock market up to 50%. Currently, the pension funds under PFRDA is allowed to invest up to 15% of the corpus into stock market. PFRDA chairman Hemant G

SC extends Aadhaar to welfare, pension schemes

The Supreme Court on Thursday permitted citizens to voluntarily use Aaadhar cards to avail benefits under the Mahatma Gandhi National Rural Employment Guarantee Scheme, along with Pradhan Mantri Jan Dhan Yojna and schemes related to pension and PF after the government promised that absence of Aadhaar would not debar people from the schemes concerned. This

NUMBER OF SUBSCRIBERS TO PENSION SCHEMES CROSSED ONE-CRORE MARK

The number of subscribers to the National Pension System(NPS) and Atal Pension Yojna (APY) together have crossed the land mark 1-crore mark.According to the data released by the finance ministry, NPS and APY together have 1.01 crore subscribers now with total asset under management of 1,00,275 crore rupees. NPS has been implemented for all government