In July India's pension fund to start equity investments

NEW DELHI: Starting in July, India's state-run pension and social security fund will invest about $800 million in equities in the current fiscal year, labour minister Bandaru Dattatreya said, in a long-awaited move that may help finance an ambitious privatization programme. The more than $100 billion Employees' Provident Fund Organisation (EPFO) intends to place an initial 1 per cent of its investments in exchange traded funds, increasing to...

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PARRIKAR SAYS, GOOD NEWS ON ONE RANK, ONE PENSION SOON

Defence minister Manohar Parrikar on Thursday said that Army can expect ‘good news soon’ on the issue of one rank, one pension (OROP). In the city for cantonment board meeting, the minister said: “Our commitment to implement the OROP remains intact. I cleared the file as soon as it came to my notice.” When asked whether the issue could be put before Parliament in the monsoon session starting July 21, the minister said that it was difficult to...

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PFRDA asked subscribers of NPS Swavalamban scheme to join the Atal pension yojana (APY)

Pension fund regulator PFRDA has asked subscribers of NPS Swavalamban scheme to join the Atal pension yojana (APY), which offers guaranteed minimum monthly pension of Rs 1,000-5,000 to the subscriber after 60 years. NPS Swabhalamban scheme has significant amount of subscribers and if all them opt for newly launched Atal pension yojana, it will help PFRDA reach the 2-crore subscriber target for this year. NPS Lite and Swavalamban schemes combined...

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