Page 8 - Pensions

SC asks high courts to enforce committee to oversee judicial pay commission

All high courts must have a 2-judge committee to oversee orders on pay, pension and other retirement benefits for judicial officers as per the Second National Judicial Pay Commission recommendations

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

Tribals, Dalits will be eligible for pension on reaching 50 years: CM Soren

Jharkhand Chief Minister Hemant Soren on Friday announced that tribals and Dalits in the state will be eligible for pension benefits on reaching the age of 50 years. Soren made the announcement while addressing a function on Ranchi's Morabadi ground organised to mark the completion of four years of the JMM-led government in the state. "The government has decided to provide pension benefits to tribals and Dalits on reaching the age of 50 years. The death rate among them is high and they do not get jobs after 60 years," he reasoned. Soren claimed that only 16 lakh people had received pension benefits in the 20 years after the formation of Jharkhand in 2000 but his government has provided pension to 36 lakh people, mostly those aged above 60 years. "In four years of our government, we have given pension benefits to 36 lakh people above 60 years of age, widows above 18 years of age and also physically challenged persons..." he said. Soren asserted that his government was relentlessly

Personnel Ministry spearheads govt offices transformation in 2023

Following the mantra of 'maximum governance, minimum government,' the Personnel Ministry in 2023 took several steps to transform the government offices, generating wealth from waste, and ensuring ease of living for pensioners. Union Minister of State for Personnel Jitendra Singh described the year as a "significant" one, due to the various pro-people and pro-employee measures taken by the central government. Prime Minister Narendra Modi ensured that technology is used as a tool to ensure transparency, accountability and citizen centricity in the governance, he said. "The year 2023 has been a significant one for the Personnel Ministry. Several pro-people and pro-employee steps were taken. This included grant of mass-promotions to a large number of employees, cleanliness campaign was undertaken at a record over one lakh sites and a high number of public grievances were resolved," he told PTI. Singh said the central government has earned Rs 1,162.49 crore in revenue selling scrap and

Over 40 crore in India don't have health insurance: Report

The report found that the lack of health insurance was due to lower penetration, coverage inadequacy, and rising healthcare costs

Decision on old pension scheme before Budget session, says Ajit Pawar

Maharashtra Deputy Chief Minister Ajit Pawar on Thursday said CM Eknath Shinde has assured government employees demanding restoration of the old pension scheme (OPS) that a decision on it will be taken before the upcoming budget session. The state legislature's budget session is generally held in February-March every year. Speaking to reporters in the Vidhan Bhavan premises in Nagpur, where the winter session of the state legislature is currently underway, Pawar informed about discussions held with the representatives of government employees demanding the OPS. He said the government has received the report of a committee, set up to look into the demand. Notably, several government and semi-government employees in Maharashtra have been demanding restoration of the OPS, which was discontinued in the state in 2005. Under the OPS, a government employee gets a monthly pension equivalent to 50 per cent his/her last drawn salary. There was no need for contribution by employees. Under th

Pensioners generate 11.5 million digital life certificates: Centre

As many as 1.15 crore digital life certificates were generated by pensioners across the country during the recently concluded special campaign, an official statement issued on Friday said. Union Minister of State for Personnel, Public Grievances and Pensions Jitendra Singh complimented the Department of Pension and Pensioners Welfare for the successful conclusion of the nationwide digital life certificates (DLCs) campaign 2.0 from November 1 to 30, it said. He said that the campaign was conducted to implement the vision of Prime Minister Narendra Modi for the digital empowerment of Pensioners, according to the statement issued by the Personnel Ministry. Singh said the government was deeply committed to improving pensioners' welfare and the campaign was an important step for the ease of living of pensioners. During the nationwide campaign, which was held in 100 cities at 597 locations, 1.15 crore DLCs were generated, including 38.47 lakh for central government pensioners, 16.15 lakh

RIL, ICICI, Infy to draw highest flows on US retirement fund switch

The flows in these four companies will range between Rs 1,200 crore and Rs 2,000 crore

US pension fund's index switch: Indian equity mkts set for $3.6 bn bonanza

Changing benchmark will trigger $3.6 bn inflows into domestic equities

New rules of NPS: Should you opt for systematic lump Sum withdrawal?

In a circular dated October 27, PFRDA proposed to provide the option of phased withdrawal of the lump sum through Systematic Lump Sum Withdrawal (SLW) facility

NPS Rules: PFRDA to allow users to withdraw up to 60 per cent pension fund

PFRDA has started the process of implementing new rules which will allow users to withdraw up to 60 per cent of their pension corpus. Here's all you need to know

Avoid withdrawing more from National Pension Scheme than you need

When the subscriber reaches superannuation or the age of 60, 60 per cent of the total corpus accumulated in NPS can be withdrawn as a lump sum

Jeevan Pramaan Patra: 5 convenient ways to submit your life certificate

Pensioners are required to furnish a life certificate/Jeevan Pramaan Patra to these PDAs in November every year either by presenting themselves personally or by delivering a life certificate

Pension amount of destitute women will be increased in near future: UP CM

He also mentioned that the government has decided to increase the amount from Rs 15,000 to Rs 25,000 from the next financial year under Chief Minister Kanya Sumangala Yojana

IT, consulting firms lead NPS adoption in private space: PFRDA data

IT and consulting firms account for 131,354 subscribers, followed by the private banking sector, which has 59,521 subscribers, and financial services, which has 38,914 subscribers

A snapshot of guaranteed pension plans offered by various firms

Here is how the guaranteed pension plans offered by various companies stack up

NPS adoption by govt sector at 5 month high in August, shows NSO data

Earlier, 85,586 new subscribers had joined the NPS in March 2023

Higher pension issue likely on EPFO central board of trustees meet agenda

While the full agenda is not clear, sources familiar with the matter say that the issue of higher pension which has protracted for a long time now might come up in the meeting

Indians believe Rs 1.3 cr corpus is ideal for retirement: Is this enough?

Half of India's population between the age of 30-55 years believes 59 years should be the age of retirement and thirty-two years is when one should ideally start retirement planning,

BJP's 'fake nationalism' visible: Kharge on new armed forces pension rules

Congress chief Mallikarjun Kharge on Saturday slammed the BJP over the new disability pension rules for armed forces personnel, alleging that its "fake nationalism" is yet again visible through the move. The Narendra Modi government is a "habitual offender" in working against the welfare of jawans, ex-service personnel and veterans, he alleged in a post on X. According to media reports, the All India Ex-Servicemen Welfare Association has strongly protested against the new policy on disability and death benefits of defence personnel and their widows. The policy was made public on Wednesday by the Ministry of Defence. In his post on X, Kharge said, "BJP's fake nationalism is yet again visible in the new disability pension rules for our brave Armed Forces!" Around 40 per cent of Army officers retire with disability pension and the change in the present policy will flout multiple past judgments, rules and acceptable global norms, he said. "The All India Ex-Servicemen Welfare Associati