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The Hindu Explains | Why is the government tweaking the National Pension System?

What are the major changes being proposed to the NPS? The story so far: Started as the New Pension Scheme for government employees in 2004 under a new regulator called the Pension Fund Regulatory and Development Authority (PFRDA), the National Pension System (NPS) has been open for individuals from all walks of life to participate and build a retirement nest-egg. Given the dominance of informal employment in India, the Employees’ Provident Fund Organisation, which is contingent on a formal employer-employee relationship, only covers a fraction of the workforce. The NPS has been gradually growing in size and now manages ₹5.78 lakh crore of savings and 4.24 crore accounts in multiple savings schemes. Of these, over 3.02 crore accounts are part of the Atal Pension Yojana (APY), a government-backed scheme for workers in the unorganised sector that assures a fixed pension payout after retirement. The rest constitute voluntary savings from private sector employees and self-employed i

Supratim bandyopadhyayPension fund regulatoryNational pension systemDevelopment authorityEmployee provident fund organisationNew pension schemeAtal pension yojanaNational pensionThe hindu explainsPension fund regulatory and development authorityRetirement nest eggInformal employmentEmployees provident fund organisationFormal employer employee relationshipIndia workforceSavings schemes

BEFI seeks stress-free work environment

‘Employees facing tremendous pressure due to non-banking work’ Bank Employees Federation of India (BEFI) has demanded that bank managements put an end to non-banking business and focus on banking for the welfare of banks and their employees. Speaking in the backdrop of the death of a woman officer, BEFI State general secretary S.S. Anil said employees were working under tremendous pressure owing to non-banking work. He blamed the Reserve Bank of India (RBI) for giving silent permission to banks to undertake such work. BEFI joint secretary N. Meena said the officer who allegedly took the extreme step was not the first to do so due to work pressure. She added that several officials had opted for voluntary retirement owing to intolerable work demands.

Jan dhan yojanaBank employees federation of indiaBank employees federationReserve bankPradhan mantri suraksha bima yojanaPradhan mantri jeevan jyothi bima yojanaAtal pension yojanaUnion finance ministerBanking services in kerala non work rbi guidelines for banks issues facing bank employees at staff unionsஜான் தன் யோஜனாவங்கி ஊழியர்கள் கூட்டமைப்பு ஆஃப் இந்தியாவங்கி ஊழியர்கள் கூட்டமைப்புஇருப்பு வங்கிப்ர்யாட்ஹந் மந்திரி சுரக்ஷா பீமா யோஜனாப்ர்யாட்ஹந் மந்திரி ஜீவன் ஜோதி பீமா யோஜனாஅடல் ஓய்வூதியம் யோஜனா

Soon, NPS subscribers may get option to park 40% of the retirement corpus with pension fund managers

Updated Apr 16, 2021 | 10:50 IST As of now, subscribers having a corpus of over Rs 2 lakh at the time of retirement or attaining the age of 60 years need to buy an annuity, offered by insurance companies, on a mandatory basis. NPS rule change (Representational image) New Delhi: Pension fund regulator PFRDA is mulling giving to its subscribers an option of parking 40 per cent of the corpus that is mandatory to purchase an annuity at the time of retirement with a pension fund manager to get better benefits. As of now, subscribers having a corpus of over Rs 2 lakh at the time of retirement or attaining the age of 60 years need to buy an annuity, offered by insurance companies, on a mandatory basis. They can take out the remaining 60 per cent as a lump sum.

New delhiSupratim bandyopadhyayNational pension systemPension fund regulatoryDevelopment authorityAtal pension yojanaPension systemAtal pension yojanaPs annuity optionsPs rules on annuity optionபுதியது டெல்ஹிதேசிய ஓய்வூதியம் அமைப்புஓய்வூதியம் நிதி ஒழுங்குமுறைவளர்ச்சி அதிகாரம்அடல் ஓய்வூதியம் யோஜனாஓய்வூதியம் அமைப்பு

Pension Fund Regulatory and Development Authority (PFRDA) FY 2020-21 Big Data Disclosure

Pension Fund Regulatory and Development Authority (PFRDA) FY 2020-21 Big Data Disclosure
indiaeducationdiary.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiaeducationdiary.in Daily Mail and Mail on Sunday newspapers.

Shri supratim bandyopadhyayPension fund regulatoryNational pension systemDevelopment authorityAtal pension yojanaFinancial yearAssets under managementNational pensionOffline aadhaar basedSupratim bandyopadhyayPension fundsஓய்வூதியம் நிதி ஒழுங்குமுறைதேசிய ஓய்வூதியம் அமைப்புவளர்ச்சி அதிகாரம்அடல் ஓய்வூதியம் யோஜனாநிதி ஆண்டு

NPS entry age limit may be raised to 70 years, exit to 75

NPS entry age limit may be raised to 70 years, exit to 75
indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.

Supratim bandyopadhyayNational pension systemDevelopment authorityPension funds regulatoryAtal pension yojanaதேசிய ஓய்வூதியம் அமைப்புவளர்ச்சி அதிகாரம்ஓய்வூதியம் நிதி ஒழுங்குமுறைஅடல் ஓய்வூதியம் யோஜனா