Page 2 - Pension Schemes

Ageas Federal launches 'Golden Years Pension Plan' for secure retirement

The fund based on market outlook, aims for steady returns through active management, diversification, and a blend of growth and value investing

Pension plans of various companies, terms, fees put together in one table

Regular pay, single pay and single pay deferred annuity schemes explained for your convenience

Trade unions demand scrapping of labour codes, restoration of OPS

Trade Unions also suggested stopping the privatisation of public sector undertakings

Budget 2024: Trade unions seek OPS, hike in tax rebate for salaried class

Constitution of the 8th pay commission, increase in tax rebate for salaried class and restoration of the old pension scheme are some of the key demands made by trade union leaders during a pre-budget meeting with Finance Minister Nirmala Sitharaman on Monday. The unions also asked the government to stop the privatisation drive of PSUs, scrap the new pension scheme and restore the old pension scheme (OPS). "The ceiling limit for the income tax rebate for the salaried class on their salary and gratuity must be substantially raised. Government-sponsored social security fund for the unorganised workers and agricultural workers has to be set up to provide them with defined universal social security schemes including minimum pension of Rs 9,000 per month and other medical, educational benefits," the CTUs said in their memorandum. Besides, they have sought that all the existing vacancies in the central government departments and PSUs must be filled immediately and the practice of contract

NDA govt proposes 50% assured pension for central govt staff under NPS

The Modi govt has set up a committee led by Finance Secretary T V Somanathan in 2023 to explore ways to improve pension benefits under the NPS after states began reverting to OPS

Widow, orphan, and more: Know about various EPFO pension scheme types

Provident fund subscribers, their families, and nominees are eligible for various types of pensions under the EPFO

Atal Pension Yojana: Benefits, eligibility and controversy explained

Atal Pension Yojana is a government-backed pension programme designed to provide a stable income to Indians post-retirement

Accounts opened without permission under APY, 32% dropped out: ICSSR study

Bank employees did so without their concurrence to achieve enrolment targets set for them

Pension plans of various companies, terms, fees explained in one table

Regular Pay, Single Pay and Single Pay Deferred Annuity schemes explained in Policybazaar table

Managing pension corpus, life in retirement: Top personal finance stories

Our top stories this week tell you how to add years to your finances and the best senior living societies

Pension scheme for detainees under MISA to be restored in Chhattisgarh: CM

Chhattisgarh Chief Minister Vishnu Deo Sai has said the pension for those who were detained under the Maintenance of Internal Security Act (MISA) during Emergency between 1975 and 1977 will be restored in the state. The pension scheme for detainees under MISA during Emergency, which was started in the state during the BJP rule in 2008, was withheld by the previous Congress government in 2019. MISA detainees (Lokantra Senani) were given pension ranging from Rs 10,000 to Rs 25,000 in three different categories. Speaking in the state assembly on Monday, Sai said the 'Samman Nidhi' (pension) for MISA detainees will be restarted. Replying to a discussion in the assembly on demands for grant of Rs 8421.82 crore for his departments, he said 1,000 village panchayats will get WiFi facility in the first phase of PM-WANI scheme. The government has decided to equip public transport vehicles with location tracking devices and emergency buttons under the Nirbhaya framework for women's safety, h

FinMin rejects proposal to double minimum pension amount under EPS

The central board of trustees (CBT) - the apex decision-making body of the Employee Provident Fund Organisation (EPFO) - was apprised of the rejection of the proposal in its latest meeting on Saturday

Income after retirement: Risks and rewards of deferred annuity plans

Allocate just enough to generate a basic retirement income; over-investing in this illiquid product can backfire

CM Bhajanlal Sharma announces increase in pension, bonus to farmers

Rajasthan Chief Minister Bhajanlal Sharma on Tuesday announced an increase in social security pension for widows and elderly and bonus to farmers on minimum support price for wheat crop. Replying to a debate on the motion of thanks to the governor's speech in the state assembly, he also targeted the previous Congress government over various issues, including law and order and recruitment exam paper leaks, and said the BJP government will fulfil all its poll promises and establish the rule of law in the state. The chief minister said that a decision has been taken to increase the amount under PM Kisan Samman Nidhi in the state from Rs 6,000 to Rs 8,000 annually in the first phase. This will put an additional financial burden of Rs 1,300 crore on the state. Sharma said the BJP had promised to give a bonus on the MSP for wheat. In the first phase, a bonus of Rs 125 will be given on wheat, after which its MSP in the state will be increased from Rs 2,275 to Rs 2,400. This will put an ...

Fresh NPS adoption by corporate sector slips to 34-month low in Nov: NSO

Data shows that the addition of new monthly subscribers under the corporate segment fell by approximately 25 per cent to 7,728 in November from 10,341 in October

Karnataka govt to implement Old Pension Scheme for 13,000 employees

Under the old pension scheme, a government employee is entitled to a monthly pension after retirement

Govt pension portal for defence personnel SPARSH suffers data breach

The digitised pension processing system, SPARSH, offers online pension-related facilities to over 3 million pensioners from 50 organisations

Maha Cabinet clears OPS for state employees who joined after Nov 2005

The Maharashtra cabinet on Thursday cleared a proposal that offers an option of availing the Old Pension Scheme (OPS) to the state government employees who joined the service after November 2005. The decision comes days after the government as well as semi-government employees and officials went on a strike to press for their demand of restoring the OPS. The cabinet gave its nod to the proposal that offers an option of the OPS to the state employees who joined the service post-November 2005, the Chief Minister's Office (CMO) said. Talking to PTI, Vishwas Katkar, general secretary of the Maharashtra state employees' confederation, said, "The cabinet's decision will benefit some 26,000 state government employees who were selected before November 2005 but received joining letters later. This decision will benefit only these 26,000 state employees." There are as many as 9.5 lakh state employees who joined the service before November 2005 and they already enjoy the benefits of the OPS.

Female govt employees may now nominate child for pension before husband

The female employee will be eligible to nominate their children to receive family pension before the spouse if there is a pending divorce, domestic violence or dowry case in any court

Atal Pension Yojana enrolment crosses 60 mn, 7.9 mn additions in FY24

The total enrolment under the Atal Pension Yojana (APY) has crossed 6 crore, with over 79 lakh additions this fiscal, the finance ministry said on Tuesday. Under the APY, the subscriber is eligible to get triple benefits of lifelong monthly pension of Rs 1,000 to Rs 5,000 from the age of 60 years, depending on their contributions, which itself would vary based on the age of joining the APY. The same pension would be paid to the spouse of the subscriber after his or her demise and on the demise of both the subscriber and the spouse, the pension wealth as accumulated till age 60 of the subscriber would be returned to the nominee. "The feat of bringing in the most vulnerable sections of society under the coverage of pension has been made possible with the untiring efforts of all banks," the ministry added. The APY -- a flagship social security scheme of the Government of India -- was launched on May 9, 2015 by Prime Minister Narendra Modi to provide old age income security to Indian .