Pension Archive

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

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

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

Varishtha Pension Bima Yojna Revived

  NDA Government in its last term in office had introduced the Varishtha Bima Yojna (VPBY)as a pension scheme for senior citizens.Under the scheme a total no. of 3.16 lakh annuitants are being benefitted and the corpus amounts to Rs. 6095 crores.The Finance Minister,  Arun Jaitly in his budget speech 2014-2015 proposed to revive the

Minimum Monthly Pension of Rs 1000 Okay-ed by Govt

Government has approved minimum monthly pension of Rs.1000/-   under Employees’Pension Scheme 1995 (EPS-95) run by the Employees’ Provident Fund Organisation (EPFO), Parliament was informed  on Monday by Vishnu Deo Sai, minister of state  for steel, mines, labour, and employment. The decision of the Government would immediately benefit 28 lakh pensioners under the EPS-95. SOURCE-THE

New Norms to Check Delay in Pension Payments Issued

An employee can now send an undertaking directly to the bank to ensure quick disbursal of pension in his or her account, according to the new guide lines by the government.The government has decided that the requisite undertaking may be obtained from the head of the office by the retiring employee and forwarded to the

To Build a Good Retiremnet Corpus – Invest in Debt Oriented Plans

Due to the volatility in the equity market, investors are not keen to invest in ELSS to save taxes this year. Alternatively,  these individuals can  take a look at Templeton India Pension Fund and UTI retirement Benefit Pension Fund. These debt oriented schemes offer some exposure to equity as a tool to accumulate retirement corpus