Page 3 - Pensions

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.'

Govt retirees under NPS with 10+ yrs can claim UPS scheme benefits

Central govt employees retired under NPS with 10+ years of service can now claim additional pension benefits under the new Unified Pension Scheme (UPS) by June 30, 2025.

Centre's new rule to deny pension to ex-govt staff in PSUs for misconduct

Centre amends pension rules: PSU employees dismissed for misconduct will now lose pension benefits from previous government service. Know what's changed under Rule 37 and its implications

Supreme Court orders equal pensions for all HC judges, ending disparity

The top court was hearing a suo motu case related to judicial retirement benefits, along with writ petitions submitted by several retired judges

Nitish Kumar-led Bihar govt hikes DA for its employees, pensioners to 55%

The Bihar government announced a 2 percentage points increase in Dearness Allowance (DA) for its employees and pensioners on Friday. The decision was taken at a meeting of the state cabinet, chaired by Chief Minister Nitish Kumar. With this hike, employees and pensioners in the pay scale of the 7th Pay Commission will get DA and Dearness Relief (DR) of 55 per cent, Additional Chief Secretary (Cabinet Secretariat) S Siddharth said. "A hike of 6 percentage points has been approved for those in the pay scale of the 6th Pay Commission. This will raise their DA and DR to 252 per cent. For those in the pay scale of the 5th Pay Commission, the DA and DR have been raised by 11 percentage points to 466 per cent," he said. The hike will benefit more than 5 lakh employees and over 6 lakh pensioners, officials said. It will be effective from January 1, 2025, they said.

Unified Pension Scheme explained: Key features, FAQs, and what's new

The new Unified Pension Scheme combines guaranteed benefits with NPS flexibility. Know its key features, FAQs, and what's changing for central govt employees starting January 2004

Moving abroad? Changes you must make in your bank, demat, and MF accounts

NRIs must also comply with the tax filing norms that apply to them once their residency status changes

Adopt liberal approach while considering disability pension to army men: SC

Observing that a liberal approach must be adopted while construing beneficial provisions, the Supreme Court has granted disability pension to an army man who was relieved from the service as he was suffering from "Schizophrenia." The top court noted that the decision of the authority to discharge a serviceman is based on a medical report which is devoid of reasons. A bench of Justices Abhay S Oka and N Kotiswar Singh said the requirement to give reasons by the Medical Board is crucial, critical, decisive and necessary for granting or denying disability pension. The apex court said it is not a mere formality, but a necessary material based on which the pension sanctioning authority has to decide about the grant or refusal of disability pension. "Accordingly, in our opinion, if the serviceman is discharged from service or denied the disability pension on the basis of a medical opinion which is devoid of reasons, it would strike at the root of the action taken by the authority, and su

Hike minimum pension under EPS, complete evaluation by 2025: Panel

The EPS, which came into effect in November 1995, is administered by the Employees' Provident Fund Organisation

Facing marital issue?Women officers can now prioritise children for pension

Women officers in marital disputes given option to ensure children's financial security

RBI asks banks to pay 8% interest for delay in central govt pension payment

Interest should be paid automatically, without any demand from the pensioner: RBI circular

Experts divided over HC verdict on pension rights to second wife

Legal experts term it a 'progressive' order which may open Pandora's box

EPFO eases withdrawal process, no need for bank account verification

Retirement fund body EPFO on Thursday said applicants seeking withdrawal from provident funds online do not have to upload the image of a cancelled cheque and their bank accounts need not be verified by employers. The move is expected to fast-track claim settlement process for nearly eight crore members and ensure ease of doing business for employers. At present, members of Employees' Provident Fund Organisation (EPFO), while applying for withdrawal of funds from PF accounts online, need to upload image of cheque leaf or attested photo copy of the passbook of the bank account seeded with the UAN (Universal Account Number) or PF number. The employers are also required to approve the bank account details of the applicant. The EPFO has completely dispensed with the requirement of uploading an image of a cheque leaf or attested bank passbook while filing online claims, the labour ministry said in a statement. These two steps have been done away with to ensure 'ease of living' for EPF .

Govt appoints Sivasubramanian Ramann as the next PFRDA chirperson

Ramann, who is currently serving as the deputy comptroller and auditor general (CAG) and chief technology officer at the CAG of India, has been appointed for a tenure of five years

RBI tells banks to continue joint account for surviving spouse's pension

Spouse entitled for family pension must be survivor

New pension rules for divorced daughters, claim process made easy

A divorced or separated daughter can claim her deceased father's pension. Single mothers in government job can now avail of up to two years of leave in a phased manner

Bengal govt gives nod for ad hoc bonus of Rs 6,800 for section of employees

The West Bengal government decided to extend an ad hoc bonus of Rs 6,800 to all its employees who do not come under any productivity-linked bonus system, and have revised monthly emoluments below Rs 44,000 in March, a senior official said on Wednesday. An order in this regard was issued by the finance department on Tuesday which also stated that employees belonging to the Muslim community would be receiving the bonus before Eid-ul-Fitr festival, scheduled later this month, while others would have it in the September 15-19 period, he said. Pensioners would get an ex gratia of Rs 3,500, the official said. The state government also decided to sanction an interest-free advance up to a maximum of Rs 20,000 for those employees having monthly emoluments not exceeding Rs 52,000 in March, he said referring to the order of the finance department.