Old age comes with a number of problems and a monetary benefit can go a long way to help us in the twilight years. With this in mind Life Insurance Corporation of India (LIC), the country's largest insurer is offering a pension scheme that will give policyholders monthly monetary benefit.
7th Pay Commission latest news: Department of Pension and Pensioners’ Welfare has said that all Central Government employees whose selection for appointment was finalized before 01.01.2004 but who joined service on or after 01.01.2004, can now opt to be covered under the Central Civil Services (Pension) Rules, 1972 instead of the NPS (National Pension System).
Opting for the new tax rates proposed in the budget could be beneficial for job-starters, pensioners, entrepreneurs and those taxpayers unable to claim available deductions and exemptions under the current tax structure, government sources said.
Haryana Chief Minister Manohar Lal Khattar on Friday announced a hike of Rs 250 to Rs 2,250 in all social security and old-age pensions with effect from this month, putting an additional burden of about Rs 70 crore per month on the state exchequer. Presently, the social security pensions to 28 lakh beneficiaries cost Rs 514 crore per month to the state government.
The Delhi Congress on Sunday announced that it will raise old-age and other welfare pensions to Rs 5,000 if elected in the upcoming assembly polls.
Pensioners under the Employees' Pension Scheme 1995 from 27 states staged a protest at the Ramlila Maidan, on Saturday, to demand Rs 7,500 per month minimum pension.
A bench headed by Chief Justice Ranjan Gogoi posted the matter for hearing on November 13 after advocate M L Sharma, appearing on behalf of a widow of a police officer, mentioned the matter seeking urgent listing of the case saying that not treating a policeman's death similar to that of a government servant is injustice
Overseas Citizens of India (OCI) will now be eligible to apply for the National Pension System at par with NRIs, the government said on Wednesday.
7th pay commission: Pension plays a significant and crucial role in the sustenance of a government employee after his retirement. Here are some key facts on pension to keep government employees abreast with provisions of the pension before their retirement.
The meeting, which ended Wednesday night, took the decision on increasing the pension to implement the poll promise of Telangana Rashtra Samithi (TRS).
The funds will be on top of the priority list irrespective of which category an IL&FS group company belongs to, green, amber or red.
The government has been receiving grievances from various quarters for grant of dual family pension including special or liberalised family pension for armed forces personnel on the lines of government servants.
The Congress on Wednesday criticized imposition of tax on disability pension of armed forces personnel, and called the ruling BJP a habitual offender in insulting the forces by "back door" cuts in spending.
The pension will be non-taxable only to those personnel who have retired due to any kind of disability, defence sources added.
The Pension Fund Regulatory and Development Authority (PFRDA) has submitted a proposal to increase the limit of pension and age which the government is looking into.
The Pradhan Mantri Kisan Pension Yojana aims to cover around five crore beneficiaries in the first three years. It will be a voluntary and contributory pension scheme with entry age of 18 to 40 years. The beneficiary can opt to become member of the scheme by subscribing to a pension fund.
The cascading impact of the default by the IL&FS Group on the financial sector would be quite substantial as evidenced from the partial default of some companies and its repercussions in the financial market in September 2018.
EPFO Private Sector Employees Pension Scheme: By rejecting the plea, the Supreme Court today upheld the HC order. In effect, all retiring employees will now get pension on their full salary instead of the Rs 15,000 cap.
Finance Minister Piyush Goyal on Friday announced launch of Pradhan Mantri Shram Yogi Mandhan (PMSYM) scheme to provide unorganised workers an assured monthly pension of Rs 3,000 after 60 years of age.
Presently, the government and employees contribute 10 per cent of basic salary each to NPS.
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