Page 3 - Pension In India
Rs 2.54 trillion spent on central govt pensioners during FY2021-22
Over Rs 2.54 lakh crore was spent on nearly 70 lakh central government pensioners during 2021-22, the Lok Sabha was informed on Wednesday. There were 69,76,240 pensioners and family pensioners 11,28,441 civil pensioners, 36,03,609 defence pensioners (including armed forces pensioners), 4,32,968 telecom pensioners, 14,82,223 railway pensioners and 3,28,999 postal pensioners, Minister of State for Personnel Jitendra Singh said in a written reply. Total expenditure incurred on these pensioners was Rs 2,54,284.4 crore during the financial year 2021-22, he said.
 "Rs 2.54 trillion spent on central govt pensioners during FY2021-22")
Agnipath scheme: A burgeoning pension bill is the govt's big headache
Pension is growing faster than the salaries of state employees, accounted for a third of revenue expenditure by armed forces in 2013-14 and 2020-21
 "Agnipath scheme: A burgeoning pension bill is the govt's big headache")
Nyay Scheme 2.0: Congress prepares to revert to jobs and pensions plank
After the Congress in Rajasthan announced that the old pension scheme will be implemented again in state and appointments made on or after January 1, 2004 will benefit, has opened a political debate
 "Nyay Scheme 2.0: Congress prepares to revert to jobs and pensions plank")
Iceland has best pension system in the world; India near bottom of Index
The scores of 11 countries, including India and South Korea, slipped this year as the world battles to limit the economic fallout from the Covid-19 crisis.
Indian pension system ranked 40th among 43 systems: Mercer study
The Indian pension system ranked 40th on overall index ranking out of 43 systems, and had the lowest rank in the adequacy sub-index, according to a study
 "Indian pension system ranked 40th among 43 systems: Mercer study")
Senior citizens above 75 years can avoid filing ITR from next year
Instead, they will just have to make a declaration in Form 12BBA to their bank, which will deduct TDS
 "Senior citizens above 75 years can avoid filing ITR from next year")
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
What the lay citizen and the experts want the Budget to deliver on Feb 1
Top of the wish list is an increase in deduction under Sections 80C, 80CCC and 80 CCD(1) from Rs 1.5 lakh to Rs 2.5 lakh
 "What the lay citizen and the experts want the Budget to deliver on Feb 1")
No pension cut to central govt employees: FinMin refutes news of 20% cut
"It is being reported that a 20 per cent cut in central government pensions is being planned. This news is false," the ministry tweeted.
 "No pension cut to central govt employees: FinMin refutes news of 20% cut")
ELSS: Get potentially higher returns with shortest lock-in tenure
Give these equity-linked instruments at least seven years to yield good returns
 "ELSS: Get potentially higher returns with shortest lock-in tenure")
Pension market set for deep reforms; foreign funds to get more leeway
This could entail a thorough rewrite of the pension products that insurance companies and some mutual funds offer today
 "Pension market set for deep reforms; foreign funds to get more leeway")
Aadhaar made mandatory for subscribers of PMVVY pension scheme
In the Budget 2018-19, the maximum limit under PMVVY was doubled to Rs 15 lakh per senior citizen
 "Aadhaar made mandatory for subscribers of PMVVY pension scheme")
Govt approves pension option for over 42,000 employees of PSU insurers
This benefit is applicable to those who have joined any of the Public Sector Insurance Companies (PSICs) on or before June 28, 1995
 "Govt approves pension option for over 42,000 employees of PSU insurers")
Hassle free pension disbursal soon as CAG initiates digitisation of process
The digital service and disbursal will soon be available in at least 21 states and Union Territories
 "Hassle free pension disbursal soon as CAG initiates digitisation of process")
Senior citizens plan stir against Rs 200/mth under universal pension scheme
The rally will be organised under the banner of NGO HelpAge India and Pension Parishad, a network of around 200 civil society organisations
 "Senior citizens plan stir against Rs 200/mth under universal pension scheme")
58 mn living sans pension, govt spends 0.4% of GDP on key scheme: Survey
According to the National Social Assistance Programme, a welfare programme administered by the Ministry of Rural Development, 80 million people in India are entitled to a pension of Rs 200 per month
 "58 mn living sans pension, govt spends 0.4% of GDP on key scheme: Survey")
Govt should expand coverage of old-age pension, hike amount: activists
Suggest 0.8% wealth tax on the most affluent, seek minimum pension of Rs 2,500 a month
 "Govt should expand coverage of old-age pension, hike amount: activists")
India's pension system more sustainable than that of Germany, France, China
India's position in sub-index value under sustainability increased from 40.9 to 43.8 in 2017
 "India's pension system more sustainable than that of Germany, France, China")
