Pension

From multiple nominations for bank deposits to revised SBI Card charges and fresh deadlines for pensioners, the new month brings a flurry of updates that every consumer should be aware of.

PFRDA says planning inflation-linked NPS products to protect retirees’ returns

NPS to offer same tax benefits to new inflation-protected payouts; 100% equity option already available

Centre issues fresh guidelines to ensure timely payment of retirement dues

The digitisation of service records through universalisation of e-HRMS for all ministries and departments would be instrumental in reducing mistakes and substantial reduction in processing timelines, the Centre said.

Countdown to Sep 30: What every central govt employee must know before choosing UPS over NPS

September 30 is the last date to switch to UPS, which promises assured pension as against NPS that offers market-linked returns.

PFRDA may cut mandatory annuitisation to 20%, allow systematic redemption for NPS corpus up to Rs 12 lakh

Subscribers with accumulated corpus of up to Rs 12 lakh at the time of regular exit could be permitted to make a lump-sum withdrawal of 50 percent of the corpus or Rs 6 lakh, whichever is higher, and for the balance amount, opt for systematic unit redemption or purchase annuities or a combination of both.

India mulls allowing bespoke pensions in $175 billion industry

PFRDA has held several rounds of discussions with fund managers on the potential change, which is aimed at boosting the growth of the pension industry in India

90-year-old forced to work at a store to support sick wife: 'It's a hard way to go'

Vince Scidone began receiving his pension in 1998, but says it hasn’t kept pace with inflation. 'You can survive, but it’s a hard way to go,' he said.

India mulls expanding pension investments to include gold ETFs

Retirement fund managers met senior officials from the PFRDA in a series of meetings late last month and requested permission to invest in gold ETFs

Falling interest rates: Is now the time to lock into annuity plans for higher payouts?

For someone on the verge of retirement, annuities can offer a secure and predictable income stream.

Trouble in Pension Fund Paradise, will investor tranquil be disturbed?

A shift from defined benefit to defined contribution pension plans taking place in Europe could alter how one of the largest group of institutional investors behaves 

No pensioner should face problems to get dues: Union minister Jitendra Singh

Union minister Jitendra Singh called for a time-bound redressal mechanism of pension-related grievances, aligning it with Prime Minister Narendra Modi’s broader governance model that places the citizen at the centre.

Centre amends key pension rules; PSU employees to lose retirement benefits on dismissal

The decision of such dismissal or removal shall be subject to review by the administrative ministry concerned,

FM Sitharaman interacts with pension fund managers, tech leaders in US; seeks collaboration on AI front

During the meeting, Sitharaman spoke about the opportunity for investment and collaboration in the domain of energy and sustainability

India’s Universal Pension Scheme Explained | Who Benefits & How It Works? | MC Explains

The Indian government is working on a Universal Pension Scheme that aims to provide financial security for all citizens, including gig workers, self-employed individuals, and informal sector workers. Will it replace NPS? How does it compare to global pension systems? Watch this video for a complete breakdown!

LIC launches Smart Pension Plan to enhance retirement security

According to a press release, the initiative aims to offer financial stability and flexible retirement solutions, reinforcing LIC’s commitment to securing the future of policyholders across India

How EPFO pays out pension to family members of the deceased

When employees contribute to their EPF and EPS accounts through employers every month, they not only build their retirement kitty, but also create a safety net for their families in the case of their untimely demise

NPS exit rules: How to withdraw money before 60 and maximize your pension

The National Pension System (NPS) allows partial withdrawals after 3 years for specific purposes like education, marriage, or medical treatment, limited to 25% of contributions. These rules offer flexibility while ensuring retirement savings are primarily used for future income security.

Only 5% of population currently under pension net, need to save more during young age: CEA Nageswaran

Nageswaran further emphasized that any efficient pension system should be sustainable and scalable along with a balance Asset Liability framework

NPS Unscrambled: What you need to know about partial, premature, & final withdrawals

The NPS permits partial withdrawals during the scheme's tenure to meet specific requirements such as children’s education, house purchase, treatment of critical illnesses, etc.

NPS Vatsalya: Why children’s pension cannot be priority over education or parents' retirement plans

For children’s higher education, which is the top goal for parents, equity mutual funds constitute a better vehicle, say financial advisors. Even amongst government schemes, PPF and Sukanya Samriddhi score over NPS Vatsalya as they make funds available when education funding needs arise.

NPS Vatsalya: How to invest in this scheme? Understand the features, benefits, eligibility and more

NPS Vatsalya is targeted at parents who want to secure their children’s financial future by creating a large corpus over the long term. FM Sitharaman released the details of the children focused investment instrument, which was first announced in Budget 2024.

Kerala announces Onam bonuses, advances, and pension benefits despite financial strain

Kerala announces Onam bonuses, advances, and pension benefits for over 13 lakh employees and 62 lakh pensioners, maintaining last year’s benefits despite financial challenges posed by central government policies.

Need for greater focus on improving financial literacy, risk awareness and consumer protection: PFRDA chief

With the financial landscape becoming increasingly digital, taking steps to mitigate data privacy and cyber security risks is also critical, PFRDA chairman Deepak Mohanty has said.

How the government-run Atal Pension Yojana assures pension for the working poor: Explained

Atal Pension Yojana scores over other retirement-related investment products considering its guaranteed pension assured by the government, modest contribution by the subscriber, superior annuity model and tax benefits. It is an ideal approach for both husband and wife to enrol in APY and receive a pension as much as Rs 10,000.