Page 4 - Nps

NPS adoption dips to 4 month low in October amid corporate slowdown: NSO

Since the union government has mandated the NPS for all its new employees, this can be used as a proxy to gauge fresh recruitments at the central level

NPS subscribers can now choose preferred fund managers for 3 asset classes

Those who have subscribed to the National Pension Scheme (NPS) can now choose separate pension managers for three asset classes-equity, government security, and corporate bonds. Earlier, subscribers

New rules of NPS: Should you opt for systematic lump Sum withdrawal?

In a circular dated October 27, PFRDA proposed to provide the option of phased withdrawal of the lump sum through Systematic Lump Sum Withdrawal (SLW) facility

NPS Rules: PFRDA to allow users to withdraw up to 60 per cent pension fund

PFRDA has started the process of implementing new rules which will allow users to withdraw up to 60 per cent of their pension corpus. Here's all you need to know

Retirement planning, secondary sources of income rise up the priority list

67% Indians now have retirement plan compared to 49% in 2020

Ahead of polls, govt likely to unveil new pension model for staff: Report

A source said that the pension for government staff under the tentative model will be adjusted for inflation only every five or ten years

OPS vs NPS: Why did government employees hold a rally at Ramlila Maidan?

The protesters said that the party which promises to restore the old pension scheme should be voted to power in the 2024 Lok Sabha polls

Fresh NPS corporate subscribers at 12-month high in July, shows NSO data

Of the 29,333 subscribers under the corporate sector, three-fourths of the subscribers belonged to the age group of 29 years and above

EPFO, NPS data show 5.2 crore payrolls addition in last 4 years: SBI study

Retirement fund body EFPO and new pension system (NPS) data revealed addition of 5.2 crore payrolls, including 47 per cent fresh jobs, in the last four years, said a recent SBI study. Since April 2018, the government has been releasing monthly payroll data (EPFO, NPS and ESIC) based on the recommendation given by Ghosh and Ghosh in the study titled, "Towards a Payroll Reporting in India". "If we analyse the EPFO payroll data trends for the last four years, net new EPF subscriber addition during FY20 to FY23 was 4.86 crore," said the recent SBI's research report 'Ecowrap'. This number, however, consists of new payroll (first payroll), second payroll (rejoined/resubscribed members) and formalised payrolls. "We subsequently estimated the net new payroll (first job/fresh job) adjusted for re-joined/re-subscribed members and formalization (based on ECR data). "As per our calculation, the actual net new payroll was 2.27 crore during FY20 to FY23. The first job is 47 per cent of the tota

India economy added 52 million new formal jobs in FY20-23: Report

The economy has added around 5.2 crore new formal jobs between FY20 and FY23, with the net addition being 2.7 crore, according to a report based on an analysis of the EPFO, NPS and ESIC data. The government has since April 2018 releasing monthly payroll data from the Employees Provident Fund Organisation or EPFO, the National Pension Scheme or NPS and the Employees State Insurance Corporation or the ESIC, based on the recommendations given by Ghosh & Ghosh report. The EPFO payroll data trends for the past four years show that net new EPF subscriber addition during FY20-23 was 4.86 crore, which consists of new payroll (first payroll), second payroll (rejoined/resubscribed members) and formalised payrolls. Accordingly, the net new payroll (first job/fresh job) adjusted for re-joined/re-subscribed members and formalisation (based on ECR data), shows that the actual net new payroll was 2.27 crore during FY20-23, SBI Research said in a report Tuesday. Of this, the first jobs were 47 ...

Asset under management of NPS and APY crosses milestone of Rs 10 trillion

Asset under management of National Pension System (NPS) and Atal Pension Yojana (APY) has crossed a milestone of Rs 10 lakh crore, Pension Fund Regulatory and Development Authority (PFRDA) Chairman Deepak Mohanty said on Friday. The landmark AUM was reached on August 23 and it took two years and 10 months to double from Rs 5 lakh crore. Of the total, AUM under APY stood at Rs 30,051 crore at the end of August 25 while the figure for NPS Lite reached Rs 5,157 crore. The number of subscribers under the National Pension System (NPS) and Atal Pension Yojana (APY) together increased to more than 6.62 crore. The National Pension System (NPS) has been implemented for all government employees (except armed forces) joining central government on or after January 1 2004. Most of the state/UT governments have also notified the National Pension System (NPS) for their new employees. NPS has been made available to every Indian citizen from May 1 2009 on a voluntary basis. Further, from June 1, 2

NPS adoption by CPSEs decreases 42.5% to a five-month low in May

The share of women subscribers improved marginally to 22.2 per cent, from 21.9 per cent in April

In debate over NPS and EPFO returns, one retirement fund edges ahead

India's lagging pension savings may need a leg-up as the economy grows

NPS subscribers can soon opt for periodic withdrawals; check details here

PFRDA says subscribers can leave their 60% corpus in NPS and can receive it back in a staggered manner, such as monthly, quarterly, semi-annually, or annually, until the age of 75

Corporate NPS subscriber addition grew 31% in FY23, shows NSO data

Central, state govt segments added fewer new subscribers than a year earlier

NPS adoption by central public sector at 13-month high in February

Earlier, 13,421 new subscribers had joined the NPS in January 2022

Fresh central govt, CPSU hiring at 11-month high, shows NPS data

Earlier, 13,112 new subscribers had joined the NPS in February 2022

Govt will set up a committee to review pension scheme: FM tells Parliament

Employees from several states have been demanding a change in the current pension system. Some states, including Rajasthan, Chhattisgarh, Jharkhand have already switched back to the old pension scheme

NPS subscriber base rises 23% to 62.4 million in March 4, shows data

The NPS was introduced in April 2004 to replace the erstwhile old pension scheme, which was seen as a major burden on state finances

Fresh public sector employment declined in 2022 by 8.8%, shows data

The share of young women getting these jobs, however, declined to 35.4 per cent in 2022, from 37.1 per cent in the preceding year, contrary to the trend seen at the Centre