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Pension Fund Regulatory and Development Authority (PFRDA) chairman S Ramann on Tuesday said the regulator would create an NPS fund-of-funds platform to channelise pension money to select alternative investment funds (AIFs). PFRDA has classified all alternate investment instruments into equity and debt after Sebi categorised Real Estate Investment Trusts (REITs) as equity. "Over the last few years, we have worked to classify alternate assets more clearly, strengthen governance structures, and build a centralised and transparent NPS (National Pension System) fund of funds platform that can select AIFs with rigour and credibility," Ramann said at IVCA DII & Exits 2025. This gives every pension fund, large or small, the confidence to deploy capital without compromising on prudence, he added. "India's next phase of capital formation must be built on strong domestic pools of patient capital. Pension assets, by design, are long-term and stable, and our effort at PFRDA is to create a ...
The retirement fund body EPFO has disposed of nearly 99 per cent of the applications, seeking higher contributions for getting higher pension under the Employees' Pension Scheme (EPS) 1995, Parliament was informed on Monday. Minister of State for Labour & Employment Shobha Karandlaje stated in a written reply to Lok Sabha that the EPFO has taken action to implement the directions issued in the Supreme Court Judgement on November 4, 2022 in a time-bound manner. An online facility was provided and a total 17.49 lakh applications for validation of joint options were successfully submitted by pensioners/ members till last date i.e. July 11, 2023 out of which around 15.24 lakh applications were forwarded by employers to Employees' Provident Fund Organisation (EPFO) till last date i.e. January 31, 2025, she informed the House. As on November 24, 2025, nearly 99 per cent of applications received in EPFO have been disposed of, she also stated. As per her reply, a total of 4,27,308 demand
On the completion of the first year of the BJP government's third consecutive term in Haryana, Chief Minister Nayab Singh Saini on Friday increased the old age pension to Rs 3,200 from Rs 3,000 per month. In the last year, Saini said, his government fulfilled 46 out of the 217 poll promises made ahead of the 2024 assembly elections. He promised to fulfil 90 resolutions in the current financial year. The promises fulfilled include Lado Lakshmi Yojna, which provides Rs 2,100 per month to eligible women, he said, adding that work on the remaining poll promises is progressing steadily. Addressing a 'Jan Vishwas-Jan Vikas' state-level event in Panchkula, the chief minister announced the hike in pension from November 1. The state government is undertaking "equitable development" and working with renewed speed and energy to fulfil the prime minister's vision of a developed India, he said. The government's "policy intent is right", and the leadership is working at an accelerated speed, he
French Prime Minister Sbastien Lecornu on Tuesday announced he would suspend a much-debated plan to raise the retirement age from 62 to 64, in a move aimed at preventing his fragile minority government from being toppled. After a week of political turmoil, the newly reappointed Lecornu said in a policy speech at the National Assembly that the law, a flagship initiative of President Emmanuel Macron, would be put on hold until after the next presidential election, to be held in 2027. The Socialist Party, which is not part of the governing coalition, had demanded the law be repealed, and Lecornu's offer to suspend it was seen as a prerequisite for the Socialists' potential support. On Thursday, Lecornu will face two no-confidence motions, one from the hard-left France Unbowed and the other from the far-right National Rally. The two parties do not hold enough seats to topple Lecornu's government on their own, but the prime minister could quickly be undone if the Socialists and others on
The Centre has issued comprehensive guidelines for effective inter-ministerial coordination for timely payment of retirement dues and issue of Pension Payment Orders of central civil services employees. Major procedural reforms such as clarification on vigilance clearance before retirement has been included for reducing the delay in issuance of Pension Payment Orders (PPOs)/ePPOs, an official statement issued on Tuesday said. "It has been clarified that no pension can be delayed for the want of vigilance clearance as per the specific provisions under Central Civil Services (Pension) Rules, 2021," it said. It has been underlined that each ministry/department should ensure that vigilance clearance in respect of their retiring employees is issued within three months prior to retirement, said the statement issued by the Ministry of Personnel, Public Grievances and Pensions. The key policy measures for systemic improvement are digitisation of service records, universalisation of Bhavish
The committed expenditure on salaries, pensions, and interest payments increased by 2.49 times to Rs 15,63,649 crore in fiscal 2022-23 across all states from Rs 6,26,849 crore in 2013-14, said a CAG report on state finances. A large share of the revenue expenditure is either committed or tied up. Salaries, pensions, and interest payments on public debt and liabilities are treated as 'committed expenditure'. During the 10-year period from 2013-14 to 2022-23, revenue expenditure by the states constituted 80-87 per cent of the total expenditure and as percentage of combined GSDP, it was about 13-15 per cent. In FY 2022-23, revenue expenditure was 84.73 per cent of total expenditure and 13.85 per cent of combined GSDP, said the publication on State Finances 2022-23, the first of its kind by the Comptroller and Auditor General of India. In FY 2022-23, out of the total revenue expenditure of Rs 35,95,736 crore, the committed expenditure was Rs 15,63,649 crore; Rs 3,09,625 crore on subsid
The Finance Ministry on Thursday asked government employees to opt for shifting to the Unified Pension Scheme (UPS) well before the September 30 deadline to ensure the timely processing of their requests. From April 1, 2025, the government has introduced UPS as an option under the National Pension System (NPS) for central government employees. UPS will provide assured payouts to the employees. In a statement, the Ministry said the last date for eligible employees and past retirees under NPS to opt for UPS is September 30, 2025. "All eligible employees are urged to exercise their option well before the deadline to avoid any last-minute difficulties and to ensure timely processing of their requests. Employees who choose to remain in NPS cannot opt for UPS after this date," the ministry said. Around 31,555 central government employees had opted for the UPS till July 20, and the last date to enrol under the scheme is September 30. Also, the Finance Ministry, on August 25, introduced a