Page 6 - Nps

Formal job creation in India rose in November after October lows: MoSPI

Between September 2017 and November 2022, 6.09 crore new subscribers joined the EPF scheme

NPS partial withdrawal rule changing for these subscribers from Jan 1

PFRDA had launched the online partial withdrawal facility in January 2021 to help subscribers cope with the Covid-19 pandemic

Politics over pension

States cannot afford a return to the old system

PFRDA appoints Suraj Bhan as chairman of NPS Trust with effect from Nov 12

Pension Fund Regulatory & Development Authority has appointed Suraj Bhan as the chairman of the National Pension System Trust (NPS Trust), responsible for managing funds under the National Pension System (NPS). Consequent upon the tenure of the present chairman of the trust coming to an end on November 11, 2022, the authority has designated Suraj Bhan as chairperson of the board of the Trustee with effect from November 12, 2022, Pension Fund Regulatory & Development Authority (PFRDA) said in a circular. Bhan has been a Trustee on the Board of NPS Trust since 2018. He joined the Indian Economic Service in 1983 and retired as Director General of Labour Bureau, Chandigarh, in January 2018. He has varied experience across several sectors with the government and public sector undertakings in the areas of economic policy, business, industry and finance.

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

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

PFRDA proposes tweaks in NPS subscribers rule: Here's what could change

The Pension Fund Regulatory and Development Authority (PFRDA) is in talks with the Insurance Regulatory and Development Authority of India (IRDAI) to let NPS subscribers port their annuity plans

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

Fresh urgency on pension reforms

The Union government needs to step in and lead the next round of pension reforms, which are now in danger of unravelling

PFRDA plans to launch a guaranteed-return scheme in September 2022

Regulator looks to give three pension fund choices for each asset class in non-govt sector

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

Best of BS Opinion: Reform reversal, the NPS challenge, and more

Here are the Best of BS Opinion for the day.

Early start, more equity can beat low interest rates, say analysts

Counter the cut in EPF rate with an asset-allocated retirement portfolio and using instruments like NPS

ELSS and PPF can be good last-minute tax-savers, say analysts

NPS and medical insurance are sound non-Section 80C options

NPS assured return scheme likely to offer modest return, go equity-heavy

For a long-term goal like retirement, NPS subscribers should ideally opt for an equity-heavy portfolio

NPS to include assured returns; new products likely to come in August

The NPS has offered higher returns so far than other schemes

Fund management that you buy

NPS is within reach of becoming a compelling choice for every Indian investor

Union Budget 2022: No tax break but important aspects addressed

NPS is the only scheme without any rupee value limit (the limit is a percentage of salary and not a specific rupee value) on the deduction

PFRDA to 'discuss' plan to raise equity exposure in NPS to 75%

The equity exposure for the NPS subscribers from other than the government sector was increased to 75 per cent three years ago

Make judicious investment choices when entering NPS and stick to them

While PFRDA will now allow investors to alter their investment choices four times in a financial year, tinkering too frequently may not be advisable except in volatile market conditions