Page 2 - Pensions

Pension assets may reach ₹45 trn in 5 years: PFRDA Chairperson S Ramann

Pension assets are projected to triple to ₹45 trillion in five years as PFRDA reforms open up customised products and aim to cover half of India's workforce by 2030

Finance ministry urges employees to opt for UPS before Sept 30 deadline

The Finance Ministry on Thursday asked government employees to opt for shifting to the Unified Pension Scheme (UPS) well before the September 30 deadline to ensure the timely processing of their requests. From April 1, 2025, the government has introduced UPS as an option under the National Pension System (NPS) for central government employees. UPS will provide assured payouts to the employees. In a statement, the Ministry said the last date for eligible employees and past retirees under NPS to opt for UPS is September 30, 2025. "All eligible employees are urged to exercise their option well before the deadline to avoid any last-minute difficulties and to ensure timely processing of their requests. Employees who choose to remain in NPS cannot opt for UPS after this date," the ministry said. Around 31,555 central government employees had opted for the UPS till July 20, and the last date to enrol under the scheme is September 30. Also, the Finance Ministry, on August 25, introduced a

PFRDA proposes NPS exit, withdrawal rule changes; seeks feedback by Oct 17

PFRDA has proposed amendments to NPS exit and withdrawal rules, including redefining exit, higher lump sum limits, revised partial withdrawals and financial assistance options

PFRDA to introduce multiple scheme framework for NPS from October 1

From October 2025, NPS subscribers in the non-government sector can hold multiple schemes under one PRAN, with equity options up to 100 per cent and PAN-based consolidated reporting

Sebi seeks govt nod for banks, pension funds in non-agri commodity trade

Sebi will "engage" with the government to allow banks, insurance companies and pension funds to invest in non-agriculture commodity derivative markets, chairman Tuhin Kanta Pandey said on Wednesday. He said the capital markets regulator is also looking at a proposal to allow foreign portfolio investors to trade in non-cash settled, non-agricultural commodity derivative contracts. "We will also engage with the government to consider banks, insurance companies and pension funds to trade in these (non-cash, non-agricultural) markets," Pandey said, while speaking at the event organised by MCX. By December 2025 end, Sebi will include commodity-specific brokers in a common reporting mechanism for compliance reports. Pandey also said that the commodity markets have to play an important role in ensuring rare metals security for the country.

Madras HC sets aside EPFO circular, clears path for higher pension claims

The Madurai bench of Madras HC has struck down an EPFO circular that blocked retrospective PF trust rule changes, enabling employees of exempted firms to seek higher pensions

Opted for UPS and thinking of going back to NPS?Here's all you need to know

Employees under UPS now have one-time option to shift back to NPS before retirement; assured payouts end but government adds 4% extra to NPS corpus at exit

Step up efforts to expand pension coverage: PFRDA Chairperson S Ramann

PFRDA Chairperson S Ramann called on banks, particularly private lenders, to step up efforts, improve persistency, and enhance financial literacy for broader pension coverage

Arunachal govt launches 'e-Bhavishya' for timely pension disbursement

The Arunachal Pradesh government on Monday launched e-Bhavishya, a pension reform initiative aimed at ensuring transparent, speedy, and hassle-free disbursement of retirement benefits to government employees. Announcing the initiative through a social media post, Chief Minister Pema Khandu said the government was committed to honouring the service of its employees by ensuring that they receive their dues on time. He said the new system would guarantee delivery of the pension payment order (PPO) on the day of retirement, thereby removing delays that have long troubled pensioners. The reform also introduces real-time updates for retired employees on the status of their pension cases through the digital platform. Officials said with the introduction of e-Bhavishya, over 95 per cent of pension cases are expected to be disposed of within the next three years. Part of the government's broader agenda under 'PEMA 3 Year of Reforms & Growth', the initiative aims to bring accountability, .

PNB signs MoU with CRPF to provide insurance, benefits under Rakshak Plus

PNB has signed a memorandum of understanding (MoU) with CRPF to provide insurance, financial services, and Rakshak Plus benefits to personnel, pensioners, and their families

SC urges Centre, IAF to recognise step-mothers for family pension

The Supreme Court on Thursday batted for liberal interpretation of word "mother" to include step-mothers too in grant of benefits under social welfare schemes including family pension. A bench of Justices Surya Kant, Ujjal Bhuyan and N Kotiswar Singh told the Centre and the Indian Air Force (IAF) that the definition of mother in regulations needed to be liberalised to include step-mother as well. "We need to liberalise the word 'mother'. It should include the word of step-mother as well especially when it comes to grant of benefits under social welfare schemes including family pension. Step-mother is de-facto mother," the bench said. The top court was hearing a plea of a woman, who raised her stepson after his biological mother died, and was seeking family pension. Justice Kant asked the Centre's counsel if a month-old child's mother passes away and the father remarries, would the step mother be not considered as the actual mother. "In law you may say her as step-mother, but she i

Atal Pension Yojana adds 3.9 mn enrolments in FY26, total crosses 80 mn

Social Security scheme Atal Pension Yojana has crossed 8 crore total gross enrolments, with an addition of 39 lakh new subscribers so far in the current fiscal, the Finance Ministry said on Friday. APY was launched on May 9, 2015. "The Atal Pension Yojana (APY), a flagship social security scheme of the Government of India administered by PFRDA, has achieved a significant milestone by surpassing 8 crore total gross enrolments with an addition of 39 lakh new subscribers in the current Financial Year (FY 2025-26) alone," the ministry said in a statement. Launched with a vision to create a universal social security system for all Indians, APY is a voluntary, contributory pension scheme, focused on the poor, the underprivileged, and workers in the unorganised sector. APY assures a guaranteed monthly pension of Rs 1,000 to Rs 5,000 for the subscriber post-60 years of age, the same pension to the spouse after the subscriber's demise, and return of the accumulated corpus to the nominee aft

Centre withholding funds for schemes, depriving people: J'khand FinMin

Jharkhand Finance Minister Radha Krishna Kishore on Monday accused the Centre of withholding funds for several schemes, depriving people of the benefits of the initiatives. He claimed that the BJP was spreading lies that the Jharkhand government was not providing the benefits of the schemes to the people. "The central government has withheld funds for several schemes and is not providing its share. Due to this, people are not able to get benefits of various schemes such as old-age pension. I urge the Centre to release the funds," Kishore told reporters after a 'Janta Darbar' at the Congress headquarters in Ranchi. As many as 49 cases were brought before the finance minister at the 'Janta Darbar', with most being related to electricity, road construction, land dispute, pond renovation and social welfare schemes. "The government will not tolerate negligence in work, and officials must complete public tasks on time. The practice of making people unnecessarily run around offices and ..

Delhi HC dismisses 200+ defence ministry pleas against disability pension

The Delhi High Court has dismissed over 200 petitions of the Ministry of Defence challenging the Armed Force Tribunal's order holding a number of defence personnel entitled for disability pension for their respective disabilities. Disability pension cannot be denied to defence personnel solely on the ground that the onset of the disability occurred while they were posted at a peace station or by contending that it is a lifestyle disease, it said, while noting that military service is inherently stressful due to a combination of factors. A bench of Justices Navin Chawla and Shalinder Kaur said that granting disability pension is not an act of generosity but a rightful and just acknowledgement of the sacrifices endured by defence personnel which manifest in the form of disabilities/ disorders suffered during their military service. The purpose of granting disability pension to personnel of the Indian Armed Forces is to provide necessary financial support to those who have sustained a

Pension administration needs urgent, systemic reforms: MoS Jitendra Singh

Union minister Jitendra Singh called for urgent reforms in pension administration, given that the number of central government pensioners now exceeds serving staff and a number of pending legal cases

'Right not a favour', says HC on pension to disabled kids: what law says

Madras High Court says no income proof needed, just a medical certificate. Families of disabled children can now push back against pension delays with legal backing.

Govt extends Unified Pension Scheme option deadline to 30 September 2025

Eligible central government employees, retirees, and spouses of deceased retirees now have until 30 September 2025 to opt into the Unified Pension Scheme

UPS for govt employees: How to shift to pension scheme as deadline nears

Scheme assures monthly pension based on average basic pay of last 12 months before retirement and after 25 years of service

Defence pensioners, Form 16 is here: Here's how to check your tax details

Defence pensioners can now download document for FY25 at SPARSH portal, ensuring easy tax filing and a clearer view of TDS deductions.

Honorary rank boost for retiring CAPF & AR personnel: What about pension?

Retiring CAPF and Assam Rifles personnel will receive an honorary rank boost on their final day. The ministry says it's 'a symbolic honor, not tied to pay or pension benefits.'