Page 13 - Pensions

Tamil Nadu CM Stalin announces hike in DA for govt staff, pensioners

The announcement of the Chief Minister will lead to a burden of Rs 1947.6 crore to the exchequer and benefit 16 lakh people including serving and retired government employees.

'One MLA, One Pension' scheme notified, will save Rs 100 cr: Punjab CM Mann

"It is a humble initiative by the AAP government to realise the dreams of our freedom fighters and national heroes," he said.

Woman gets family pension denied to her for over 30 years, says NHRC

The National Human Rights Commission has ensured that a woman got the family pension which had been "denied" to her for over 30 years since her husband died in 1987, officials said.

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

EPFO to soon disburse pension to over 7.3 mn pensioners in one go

EPFO will approve a proposal for setting up a central pension disbursal system on July 29 and 30, paving the way for crediting the benefit into over 7.3 million pensioners' bank accounts in one go

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

Saving money to skilling soldiers: Agnipath's bold battle plan for military

The expected savings on salary and pension bills needs to be set against the problems of jobs for trained soldiers discharged from service and the relationship between Agniveers and regular full-time

BCCI announces increase in monthly pensions of former cricketers, umpires

Ex-India captain and BCCI president Sourav Ganguly said that it is extremely important for the cricket board to take care of the financial well-being of our former cricketers and umpires.

Jan Suraksha schemes bring insurance, pension accessible to common man: FM

Finance Minister Nirmala Sitharaman said the three Jan Suraksha schemes have brought insurance and pension within the reach of the common man.

Minimum guaranteed-return pension products may have varied capital needs

Those having higher assets under management (AUM) may have greater requirements of minimum paid-up capital: Sources

What is One Rank, One Pension?

The Supreme Court on March 16th upheld the 'one rank, one pension' scheme launched in 2015 and declined to interfere with the policy. Our next report takes a deep dive into the scheme

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

Here are the Best of BS Opinion for the day.

Reform reversal

States should not go back on pensions

Govt sanctions Rs 3,274 cr for freedom fighters pension scheme till 2026

The Centre has approved an allocation of Rs 3,274.87 crore for the continuation of the Swatantrata Sainik Samman Yojana (SSSY)

Rajasthan's pension outgo has risen faster than other states, UTs: RBI data

Revised estimate on Rajasthan govt's fiscal deficit is seen to have worsened to 6.12% of GSDP in 2020-21, according to a note from Delhi-based PRS Legislative Research

Don't bank just on EPS as its pension payouts are paltry, say analysts

At present, it is mandatory for employees who earn a basic salary plus dearness allowance (DA) of up to Rs 15,000 to enrol in EPS

NPS subscribers can soon switch asset allocation 4 times in a year

Currently, the subscribers under the NPS scheme are allowed to change the investment pattern twice in a financial year

Time limit for life certificate submission by pensioners extended to Dec 31

The decision was taken in view of the ongoing Covid-19 pandemic

Joint bank account not mandatory for spouse pension, says govt

A joint bank account with spouse is however desirable, the govt said

Don't delay retirement planning; estimate corpus as first step: Experts

Use a mix of equity funds, PPF, EPF and NPS; review and correct course periodically