Page 12 - Pensions

MF industry seeks management of pension, provident, insurance funds

The aim of doubling the asset under management to Rs 80 lakh crore can be met earlier than the targeted year of 2027, if the mutual fund sector is allowed to manage pension, provident and insurance funds, an industry body official said on Saturday. The Association of Mutual Funds in India also anticipated that AMC Repo Clearing Ltd (ARCL) will become operational from January 2023, which will provide a fillip to the wholesale corporate debt market. "We want the government to allow the mutual fund industry to manage funds of pension, provident and insurance firms. This will help the MF industry ensure greater efficiency in managing the resources in a cost-effective manner. The industry can achieve the target of doubling the asset under management to Rs 80 lakh crore much earlier than the targeted year of 2027," AMFI chief executive N S Venkatesh said at a programme organised by the Indian Chamber of Commerce. The current asset under management (AUM) of mutual fund industry is Rs 40 la

Coal pensioners protest in capital, demand review of pension scheme

Agitators seek dearness relief as scheme component to ensure equitable pension; want adherence to provisions of CMPS 1998 on review and revision of pension every three years

TN CM Stalin announces Rs 500 hike in pension to differently-abled citizens

Tamil Nadu Chief Minister M K Stalin on Saturday announced an increase in pension for the differently-abled including the visually challenged people from Rs 1,000 to Rs 1,500 and said his government is committed to the welfare of all sections of people, particularly, the marginalised. The Chief Minister said the State-level expert and high level committees are working towards providing technology based framework that would enable the differently-abled persons in government and private sectors to work independently without support. "There is no necessity for the differently-abled persons to go to office to work. We are going to create an ambience that would facilitate working from home," he said in his address on the occasion of the International day of persons with disabilities celebration held by the government here. A new initiative is on under the auspices of the Tamil Nadu Skill Development Corporation to upskill them and provide employment opportunities and the scheme covers ..

Over 3 mn central govt pensioners used digital life certificates: DoPPW

More than 30 lakh Central government pensioners used digital life certificates (DLCs), the Department of Pension & Pensioners' Welfare (DoPPW) said on Thursday. Submission of life certificates is an important activity to be carried out by pensioners every year in the month of November (with special provision for pensioners aged 80 years and above to submit their life certificates in October) to ensure continuity of their pension. In the traditional mode, pensioners had to present themselves before the pension disbursing authority for physical submission of their life certificate which entailed waiting at the bank branches in queues for this purpose. This was found inconvenient for the old, ailing pensioners. Further, there was no mechanism for the pensioners to get a status regarding updation of their life certificates in the records of the pension disbursing authority. To enhance ease of living' of Central government pensioners, the DoPPW has been promoting DLC i.e. 'jeevan ...

Consistency should be key criterion when choosing NPS fund manager

Asset allocation to NPS should depend on age, risk appetite and asset mix in existing investments

EPFO to appoint actuary firm for its pension and insurance schemes

The approved consultant will be empanelled with the EPFO headquarters in New Delhi for a tenure of three years

Over 2.1 mn central govt pensioners used digital life certificates: Centre

Over 21 lakh central government pensioners have used digital life certificate (DLC) facility, the Centre said on Wednesday. The biometric-enabled digital service does away with the requirement for pensioners of the central or state governments or any other government organisation to submit their physical life certificate every November in order to ensure continuity of their pension. The Department of Pension and Pensioners' Welfare (DoPPW) under the Union Ministry of Personnel, Public Grievances and Pensions had launched a nationwide campaign to promote DLCs for central government pensioners. All the registered pensioners' associations, pension disbursing banks, central ministries and Central Government Health Scheme centres had been directed to promote DLCs by organising special camps, DoPPW said in a statement. The face authentication technology was launched by Union Minister of State for Personnel Jitendra Singh. From November 1-15, special awareness camps were organised in ...

Supreme Court caps maximum pensionable salary at Rs 15,000 under EPS

Order gives employees four months to join

Coal pensioners to agitate for dearness relief in pay, pension body revamp

Retired Employees Association says nearly 270,000 pensioners are getting less than Rs 2,000 a month as pension

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

Special Swachhta Campaign 2.0: Centre removes 900 obsolete rules

The assessment of the Campaign 2.0 will be done from November 15 to November 30

How to check pension status on EPFO portal: Here's a step-by-step guide

Any EPF pensioner can get the PPO number using either the bank account number or PF number

Edelweiss raises $425 mn for 3rd special situation fund, seeks $1 bn corpus

Company says it has investment commitment from insurance companies, pension funds, high net worth individuals

Telangana govt introduces 'Aasara' pension as social safety net to poor

As a part of its welfare measures and social safety net strategy, the Telangana government has introduced the 'Aasara' pensions, with a view to ensuring secured life for all the poor.

Cabinet hikes dearness allowance for central govt employees to 38%

The move will benefit about 4.8 million central government employees and 6.9 million pensioners. The decision will be effective from July 1, 2022.

Fixed investment tenor of 10 years under guaranteed return scheme: PFRDA

Only those investors who remain invested for 10 years will get a guaranteed return and if the actual return falls below the assured amount, pension fund managers shall bridge the gap

Govt bonds and immediate annuity plans: 2 options for retirement income

The first offers a guaranteed rate of return for long; the other secures income for the rest of your life

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

Universal Pension Scheme: New EPFO scheme may cover unorganised workers

If the scheme gets approved, the unorganised sector workers will put in a fixed amount with a flexibility of making voluntary payments.

Coal stocks at thermal power stations to last 17 days: Senior official

Union coal secretary Anil Kumar Jain on Tuesday said that thermal power stations have coal stocks that will last for the next 17 days and Mahagenco has stocks for eight to 10 days. Jain addressed a press conference along with Coal India Ltd (CIL) chairman Pramod Agrawal at the Western Coalfields Limited (WCL) during their visit to Nagpur. A major decision has been taken with regards to the pension scheme of coal mine workers, Jain said. The CIL gives Rs 10 per tonne of coal production towards pension scheme to coal mine workers, and likewise, the CIL gave approximately Rs 622 crore towards pension scheme out of the total production of 622 million tonnes last year, he said. As private coal companies were not contributing this way, the coal ministry was planning to a make a law wherein such firms will have to contribute around Rs 20 per tonne coal towards pension fund, Jain said. Speaking about the coal supply to Mahagenco and other power companies, Jain said the WCL was supposed to