Freedom Fighter Pensioners To Decide Which Bank To Opt For

MHA Withdraws Its Controversial Order On SBI The Union Home Ministry  withdrew its March 5 order that had divested  State Bank of India of its role in disbursing pensions to 12,000 freedom fighters. However, SBI will no longer have a monopoly in disbursing the said pension. The pensioner can now opt for any of the

Changes as per Insurance Laws (Amendment) Bill, 2015

Insurance Laws (Amendment) Bill, 2015 amend the Insurance Act, 1938 and the General Insurance Business (Nationalisation) Act 1972 and the Insurance Regulatory and Development Authority Act, 1999. It provides for raising FDI cap in insurance sector from 26% to 49%. 1- The foreign equity cap in insurance sector is increased to 49 per cent as

Misconduct No Basis To Deny Pension

A misconduct of an employee can not entitle the government to cut pension and other post-retirement benefits, the Delhi high court has held. Only when the misconduct is” grave ” can the employer slash benefits. The bench was hearing a retired CRPF commandant’s petition challenging the decision of higher authorities to slash his pension for

New Pension System- Salient Features

Pension plans provide financial security and stability during old age when people do not have a regular source of income.Retirement plan ensures that people live with pride and without compromising on their standard of living during advanced years. Government of India established Pension Fund Regulatory And Development Authority on 10th October, 2003 to develop and

Parliament passes insurance bill-raises cap from 26% to 49%

The Rajya sabha  on 12-03-15 gave the go ahead to the insurance bill , raising the ceiling for foreign investment in the sector. The upper house’s nod for the insurance laws (amendment) Bill, 2015, puts parliament seal of approval on the legislation, which seeks to raise the  overseas investment cap in insurance companies to 49%

Life Made Easy for Pensioners by ‘Jeevan Pramaan’

SUBMIT DIGITAL LIFE CERTIFICATE AT 40000 CENTERS ACROSS THE COUNTRY OR FROM THE COMFORT OF YOUR HOME USING AADHAR ID TO LOCATE YOUR NEAREST CENTRE SMS JPL <SPACE> PIN CODE TO 7738299899 Presently applicable to Defence and central government pensioners covered by “scheme for payment of pensions to central government civil Pensioners” It is optional

How to get Digital Life Certificate?

Visit the nearest Jeevan Pramaan centre (location details at www.jeevanpramaan gov.in) or down load the App from the portal on your pc/Android mobile(requires a biometric scanner). Pensioners with Aadhar number can biometrically authenticate their presence by by giving Aadhar and mobile number and provide necessary information like Pension Payment order number, bank name ,bank account

Pension Funds give more returns than PF

An analysis by ET shows that NPS schemes have generated better returns than the provident fund. The average NPS fund for central government workers has given 10.35% returns since launch, while the average state government scheme has delivered 10.84%. The NPS  schemes for the general public have also done very well, thanks to the bullishness

What is Work-based and Personal Pension?

What is a work-based pension? A work-based pension scheme is set up by an employer to provide a way for employees to save for their retirement. Both the employer and the employee may contribute to the scheme. The employee’s contributions are usually collected directly from their salary or wages. Types of work-based pension scheme There

National Pension System : Companies now Facing a Tax Builder

CONTRIBUTIONS OVER PAST 5  YEARS MAY TURN TAXABLE Contributions by private sector subscribers to the National Pension system over the past five years may have become taxable in certain situations because of a provision in the budget intended to correct an anomaly between government and private employees.  The NPS was initially meant to build up