Page 3 - National Pension Scheme

Old pension scheme: Is politics trumping economics?

The pension reform had the backing of both BJP and Congress. Now, the political parties are using it as a tool to gain power in certain states. While this may be good politics, is it good economics?

Money in NPS belongs to people, can't go back to state govts as per law: FM

Finance Minister Nirmala Sitharaman on Thursday said the money in the National Pension Scheme (NPS) belongs to individual contributors and as per law, state governments cannot get it back. Responding to queries on restoration of the old pension scheme (OPS), Sitharaman clarified at a press conference that Rajasthan and Chhattisgarh governments that are asking the Centre to return the money, cannot get it back as per law. Chief Ministers of these two states have asked the Centre to return the people's money under NPS for restarting OPS in their states. Both the Congress-ruled states have notified the reintroduction of OPS for government employees and have said the Centre cannot hold back employees' money. The Congress has also promised to restart OPS for government employees in Himachal Pradesh and this has become a major poll issue in this assembly election as there are 1.75 lakh government employees in the state. Himachal Pradesh goes to the polls on November 12. "As per law, th

Changed and new rules for National Pension Scheme: All you need to know

Here is a list of the changed and new rules by Irdai and PFRD regarding the National Pension Scheme

EPFO board recommends extending proportionate pension benefits to members

Decision to extend pension scheme beyond 35 years of service taken in 232nd CBT meet on Monday; withdrawal benefits available even to those who've contributed for less than six months

Retirees can now opt to continue with 'default' investment plan under NPS

After the new rule kicks in, retirees will be able to choose to continue with the existing plan or choose a new PFM and investment plan

Govt employees' pension: 'Old versus new' debate gathers momentum

Reverting to OPS is being considered an easier option from a political standpoint, but could financially stress the states

EPFO to provide safer, more stable returns to those nearing retirement

The organisation will invest a higher percentage of the money from young subscribers into equity. For those nearing retirement, the money will be invested in a safe debt

NPS exit form to be treated as proposal to purchase annuity products: Irdai

Regulator eases rule for senior citizens taking annuity products from proceeds of National Pension Scheme

No need to submit separate form to buy annuity from NPS at retirement

Insurance regulator Irdai on Tuesday said it has done away with the requirement of submitting a separate form to buy annuity from NPS proceeds at the time of retirement. Insurance Regulatory and Development Authority of India (Irdai) said it is aimed at providing ease of doing business in insurance industry and for protection of interests of policyholders. "In this direction, to bring ease of living for senior citizens, Irdai has relaxed the requirement of submitting separate proposal form for taking the immediate annuity products from proceeds of National Pension Scheme (NPS)," Irdai said in a circular. At present, NPS retirees have to submit an exit form to PFRDA and a proposal form to insurers at the time of superannuation. Now, the exit form of NPS will be treated as proposal form for purchasing annuity, thereby reducing the time and efforts of senior citizens as well as insurers, Irdai said. The Annuity Service Providers (ASPs) are insurance companies regulated by Irdai and .

New rules from Sept 1: Toll prices, insurance, property rates and more

New Rules: Toll prices and property rates surged in Delhi and Uttar Pradesh. Audi announced a price hike on all of its models. Read this article to know what changes have been made till now

Tax payers can no longer be a part of the Atal Pension Yojana: FinMin

A notification by the Ministry of Finance further said that those who are already a part of the APY scheme, will cease to be so from October 1 but they will receive their accumulated money

PFRDA pension scheme subscribers up 24% to 53.2 million by May end

Atal Pension Yojana (APY) -- the highest contributor to the subscriber base -- registered a growth of 31.6 per cent to 37.2 million by end of May this fiscal year.

Department of Posts starts providing NPS services through online mode

Department of Posts is now pleased to start providing NPS (All Citizen Model) through online mode with effect from April 26, 2022," the statement said

The NPS challenge

We need to hang in there, to create safety for pensioners and the Indian state

Assets under management of NPS, APY cross Rs 6.99 trn: PFRDA

Total assets under management (AUM) as on January 1, 2022 stood at Rs 6,99,172 crore, PFRDA said

Those joining NPS after 65 yrs of age can take up to 50% equity exposure

Any Indian citizen and Overseas Citizen of India (OCI) in the age group of 65-70 years can also join NPS and continue up to the age of 75 years

Govt approves raising family pension of bank staff under NPS

The families of deceased bank employees will receive up to 30 per cent of the last drawn salary of the employee under the National Pension Scheme (NPS)

Deeply disturbed over changes in pension rules: Ex-civil servants to PM

The former civil servants said they were unable to understand why there was a need for such an amendment to the Central Pension Rules

Retirement funds can nudge investors to save: Who should opt for them?

The disciplined ones can accumulate for this crucial goal, using equity, debt funds, and NPS

Subscribers under NPS, APY schemes reach 3.83 crore till Oct-end: PFRDA

Subscribers under the Atal Pension Yojana (APY) increased 34.51 per cent to 2.45 crore at the end of October