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Pension received by the beneficiaries of the Employees Provident Scheme, 1995, has gone back from Rs 1,000 per month to Rs 50-Rs 800 from the commencement of the new financial year. This is due to the fact that the central government had decided to give the raised amount as pension only for 2014-15. The Centre has, however, directed the provident fund department not to process the pension of the beneficiaries till further orders are released."The provident fund office has been asked to withhold the calculation of pension to the beneficiaries till...
Tuesday, 21 April 2015
Monday, 20 April 2015
Dabur, RUDSETI launches Swavalamban to train village youth
NEW DELHI: Consumer products maker Dabur India, in association with Rural Development and Self-Employment Training Institute (RUDSETI), has announced the launch of an initiative aimed at improving the employability of youth from villages by providing free technical training and skill development.The programme, Swavalamban, is aimed at providing not only training to rural youth in three key areas of sales, merchandising and promotion but also guaranteed...
A new pension scheme only for labourers
The Central Government has restructured its Swavalamban pension scheme for labourers in the unorganised sector. Auto and taxi drivers, construction workers, domestic helps etc can benefit from the scheme.The new pension scheme, called Atal Pension Yojana, would be different from the existing Swavalamban pension and would come into effect from June 1. While the former pension scheme never gave an idea on how much one would receive as pension or...
Thursday, 16 April 2015
Under Atal Pension Yojana, govt to guarantee up to Rs 5,000 cover
The government will give guaranteed pension of up to Rs 5,000 a month to subscribers under the proposed Atal Pension Yojana and will also allow members of the NPS Swavalamban to migrate to the new scheme.“There will be five guaranteed pensions and subscribers can opt to join any of these schemes. At the age of 60, when the plan matures, a person opting for the scheme will get a guaranteed return,” said Hemant Contractor, chairman of the Pension...
PFRDA chief eyes 20% coverage of the poor by FY18
Pension fund regulator PFRDA today said it aims at increasing pension coverage for the deprived section to 15-20 per cent over the next few years.“Today pension coverage in the unorganised sector is a poor 3-4 per cent and we want to take it to 15-20 per cent in the next two-three years,” Pension Fund Regulatory and Development Authority (PFRDA) Chairman Hemant Contractor told reporters on the sidelines of an event here.He said the Swavalamban...
Tuesday, 14 April 2015
Govt employees may get to choose their fund managers in NPS
New Delhi, April 13: Pension regulator PFRDA may allow Union and State government employees the flexibility to choose their own fund managers for managing their corpus in the National Pension System (NPS).Such a move will bring the employees on par with private individual subscribers, who already enjoy the facility to choose their fund managers.“The plan to provide choice to government employees for deciding their fund managers is...
Saturday, 11 April 2015
The National Pension System needs a big push
The National Pension System (NPS) is not used to getting an easy pass. When the 2015-16 Budget announced an exclusive tax sop of Rs.50,000 for NPS, even the pension regulator was surprised. The birthing of a national pension system for all of working India—and not just those lucky enough to be incumbents in jobs that offer them the questionable shelter of an inefficient and opaque corpus targeting vehicle called the Employees’ Provident Fund (EPF)—has...
National Pension System funds deliver market beating returns
BL Research Bureau: If you’ve parked your retirement savings in the National Pension System (NPS), your future appears to be in safe hands. All the five fund managers of the NPS have delivered above-average, market-beating returns across asset classes and timelines.The NPS funds are invested in the three broad categories of equity (mainly Nifty stocks), corporate debt and government securities. In the equity portion, all the funds...
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