Page 9 - Pensions

Higher pension: EPFO extends deadline to upload wage details till 31 Dec

Till 12 July this year, close to 1.8 million pensioners have applied for the higher pension option, of which 5.52 lakh applications for validation of option/joint options are still pending

Six Congress guarantees for Telangana: Housing, electricity, pension & more

The Congress party has begun its campaign in Telangana with the promise of financial aid to students and special assistance to women, including LPG cylinders at Rs 500 and Rs 2,500 per month

No pension, PF for I-T, GST tribunal members under amended tribunal rule

Earlier, serving judges of the High Court or the Supreme Court were appointed as chairperson or a member while staying in their existing service, and were entitled to pension and other benefits

UK, India agree pensions and insurance partnership, says British FM

Britain and India have agreed to launch partnership to boost cross-market investment by insurance and pension sectors, Britain's finance ministry said

Campaign to promote submission of digital life certificate launched by Govt

The Centre will launch a mega campaign in November to promote the submission of digital life certificate by pensioners, an official statement issued on Wednesday said. Submission of life certificates is an important activity to be carried out by pensioners every year in the month of November (with a special provision for pensioners aged 80 years and above to submit them in October) to ensure the continuity of their pension. To enhance the ease of living' of central government pensioners, the Department of Pension & Pensioners' Welfare (DoPPW) has been promoting digital life certificate (DLC) i.e. Jeevan Pramaan' extensively, it said. "With a view to spread awareness amongst all the central government pensioners as well as the pension disbursing authorities for the use of DLC/face authentication technology to submit digital life certificates, DoPPW launched a nationwide campaign in November 2022 in 37 cities throughout the country. The campaign was a huge success with more than 35 .

No proposal to increase amount of minimum pension: Govt in Lok Sabha

There is no proposal to increase the amount of minimum pension/family pension, Union Minister of State for Personnel Jitendra Singh said on Wednesday. The amount of minimum pension/family pension under the central government is Rs 9,000 per month, he said in a written reply to a question in the Lok Sabha. Singh said there are 44,81,245 pensioners, including 20,93,462 family pensioners and the government incurred an expenditure of Rs 2,41,777.55 crore on them during 2022-23. "There is no proposal to increase the amount of minimum pension/ family pension. The pensioners/ family pensioners are entitled to dearness relief, based on changes in prices, from time to time," he added.

NPS adoption by CPSEs decreases 42.5% to a five-month low in May

The share of women subscribers improved marginally to 22.2 per cent, from 21.9 per cent in April

EPS-95 pensioners to go on hunger strike, demand Rs 7,500 monthly pension

Pensioners body EPS-95 National Agitation Committee on Wednesday said its members across the country and in the national capital will go on hunger strike on Thursday to press for their demand of Rs 7,500 minimum monthly pension. Presently, the pensioners under the Employees' Pension Scheme 1995 (EPS-95) run by Employees' Provident Fund Organisation (EPFO) have a minimum monthly pension (entitlement) of Rs 1,000 which was introduced in September 2014. "The EPS-95 National Struggle Committee, representing retired employees from industrial/public/cooperative/private sectors, known as EPS95 pensioners, who dedicated their service to the nation's development, is facing dire circumstances due to extremely low pension amounts," a statement by the body said. It stressed that these pensioners are living in distressing conditions and losing their dignity within their families and society due to the meager pensions they receive. Therefore, on 20th July 2023, Commander Ashok Raut, National ...

Deadline for higher pension ends tomorrow: Should you opt for it?

The government backed EPF higher pension scheme allows EPF members to have the option to contribute an additional amount to their pension fund

Centre holds outreach programme with pensioners' association: DoPPW

Senior officials of the Department of Pension & Pensioners' Welfare (DoPPW) under the Union Personnel Ministry has conducted an outreach programme with a pensioners' association here aimed at enhancing their ease of living, according to an official statement issued on Saturday. The DoPPW has been holding awareness programmes for pensioners in online mode as well as through interactive meetings to dispense information and also to understand issues faced by pensioners as well as dwell on any suggestions forwarded by them. As part of the outreach programme of DoPPW, meetings are held with these associations, online as well as physically, at regular intervals, said the statement issued by the Personnel Ministry. One such meeting was held with Bharat Pensioners' Samaj, a registered pensioners' association, for which V Srinivas, Secretary (DoPPW), Sanjiv Narain Mathur, Additional Secretary, DoPPW and other officials from the department visited the association's office at Jangpura, Delhi

National Pension Scheme to add 1.3 million new subscribers in FY24

To roll out systematic withdrawal plan in October

Haryana announces Rs 2,750 monthly pension for unmarried people aged 45-60

Chief Minister Manohar Lal Khattar further announced that widowers in the age group of 40 to 60 will get a monthly pension of Rs 2,750, provided their annual income is less than Rs 3 lakh

Haryana govt announces monthly pension for unmarried, widowed people

The Haryana government on Thursday announced a pension of Rs 2,750 per month for low-income unmarried people aged between 45 and 60. A similar scheme was unveiled for widowed men and women. The state government already provides a monthly pension to low-income people above 60. Chief Minister Manohar Lal Khattar on Thursday said unmarried men and women who are in the age group of 45-60 and have an annual income of less than Rs 1.80 lakh will get a pension of Rs 2,750 per month. Similarly, widowed people in the age bracket of 40-60 who have an annual income of less than Rs 3 lakh will also get Rs 2,750 every month, he said. This move will put an additional burden of Rs 240 crore per annum crore on the state exchequer. Khattar said there are a total of around 65,000 unmarried men and women and 5,687 widowers in the specified age group and income limit. He said the monthly income will help these people meet their personal needs. "Those whose income is very less, they will get some he

Raj govt approves DA hike for employees, pensioners in 5th pay commission

Employees and pensioners working under the Fifth Pay Commission in Rajasthan will get an increased dearness allowance from January 2023. Chief Minister Ashok Gehlot has approved the proposal in this regard, an official statement said. According to the proposal, an increase in the rate of dearness allowance has been approved for state employees and pensioners working under the Fifth Pay Commission and Rajasthan Civil Services (Revised Pay) Rules, 1998. From January 1, 2023, the rate of dearness allowance will be increased from 396 per cent to 412 per cent to such state employees and pensioners. From January 2023 to March 2023, the amount will be deposited in the general provident fund account of the concerned employees. While the pensioners will get the increased dearness allowance in cash. Gehlot has approved the proposal of the Finance Department for this. The statement said that personnel and pensioners working under the Fifth Pay Commission will benefit from this decision of the

ITR to higher pension: Important financial and tax deadlines in July 2023

The income tax return (ITR) filing deadline is approaching, which means taxpayers need to ensure timely submission

You have time till 11 July to opt for higher pension: All you need to know

Subscribers should use the additional time to take a well-considered decision regarding whether to go for this option or stay with the current one that offers a higher lump sum

EPFO extends deadline to apply for higher pension for members till July 11

Retirement fund body EPFO has extended the deadline for filing applications to opt for a higher pension till July 11. This is the second extension of the deadline for applying for a higher pension. Earlier, it was extended from May 3, 2023, to June 26, 2023. The last opportunity of 15 days is being given to remove any difficulty faced by the eligible pensioners/ members, the Employees' Provident Fund Organisation said in a statement. "Accordingly, the last date for submission of Applications for Validation of Option/ Joint Options by employees is extended to July 11, 2023," it added. "Online facility has been made available by EPFO for submitting Applications for Validation of Options/Joint Options for pension on higher wages. The facility is for eligible pensioners/members in compliance with the Hon'ble Supreme Court order dated November 04, 2022," the statement said. "Timeline for applying for higher pension has been extended by 3 months for the employer and 15 days for the ...

Govt likely to offer assured base pension in compromise with states: Report

The Ministry of Finance, in a response after the report was published, denied that any such a decision has been taken

PFRDA plans to introduce SWP under NPS by Sept: chairman Deepak Mohanty

Pension fund regulator PFRDA plans to come out with a systematic withdrawal plan which will provide flexibility to pension account holders to withdraw a lump sum fund as per their choice on completion of 60 years. "It is at a very advanced stage. Hopefully, by the end of next quarter we should be able to come out with a scheme like that," PFRDA Chairman Deepak Mohanty told PTI in an interview. Currently, National Pension Scheme (NPS) subscribers after turning 60 years withdraw up to 60 per cent of the retirement corpus as a lump sum while the remaining 40 per cent of the corpus mandatorily goes into buying an annuity. However, a systematic withdrawal plan will allow NPS subscribers to opt for periodic withdrawal either monthly, quarterly, half-yearly, or annually till the age of 75 years. "Many people requested that why we cannot stay with the fund. When my fund is giving a very good return why should I take an annuity. I like to stay on and draw that money on the frequencies on

With fewer than 15 days to deadline, check how to apply for higher pension

Those willing to apply for a higher pension under EPS can do so until June 26, 2023