Retirement: Indians Rank First in Retirement Readiness

Indians rank first in retirement readiness in a global survey conducted by Aegon Religare Life Insurance Co Ltd. It ranks ahead of even countries like the United States, the United Kingdom and China. The survey, titled “Aegon Retirement Readiness Survey 2015”, had 15,000 respondents from 15 countries. Of these, 1,000 (900 working and 100 retired) were from India. Indian workers scored 6.98 out of 10 on the ‘Retirement Readiness Index’, compared with the global average of 5.86. However, according to the report, the surveyed Indians also said that they are not entirely on track to meet their desired retirement income.

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Retirement: EPFO To Invest around Rs410 Crore in ETFs Every Month
Employees’ Provident Fund Organisation (EPFO) has decided to invest around Rs410 crore in exchange traded funds (ETFs) every month during the current fiscal. EPFO plans to invest 5% of its incremental deposits every month. EPFO received average monthly incremental deposits of Rs8,200 crore during this financial year, so far.
 
EPFO assured the trustees that being cautious about the volatile nature of stock market and with no prior experience of such investments, EPFO will start with investing in ETF during the current fiscal. 

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Road Mishap: Boy Gets Rs8.7 Lakh Compensation
The Motor Accident Claims Tribunal (MACT) awarded a 14-year-old boy, whose left leg had to be amputated below the knee after being hit by a rashly driven tanker, over Rs8 lakh as compensation.
 
Kiran Bansal, presiding officer of MACT, directed Reliance General Insurance Company Ltd, insurer of the tanker, to pay Rs8,70,466 to Imran Khan who was injured in a road accident in December 2011. 
 
According to the petition, the tanker, driven in a rash and negligent manner, hit Imran Khan in Ghaziabad. As a result, he sustained grievous injuries. Later, he was taken to a hospital for treatment and was discharged. Due to the accident, Imran Khan suffered 75% disability of the left lower limb that had to be amputated. 

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