RETIREMENT


There is a plethora of court decisions interpreting various aspects of the Hindu Succession Act, 1956 (HSA) and with many contradictory findings.   None is more vexatious than the interpretation of the implications of the amendments introduced in 2005 that provided equal status to daughters...

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Moneylife Digital Team 04 September 2024
Pensioners under the Employees' Pension Scheme (EPS) 1995 run by the employees' provident fund organisation (EPFO) will be able to get their pension from any bank or branch across India from January, the Union government says. EPFO's apex decision-making body, the central board of trustees...

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Moneylife Digital Team 26 August 2024
In a significant move to address the longstanding concerns of government employees, the Indian Cabinet, led by prime minister (PM) Narendra Modi, has approved the implementation of a new Unified Pension Scheme (UPS). This move, announced ahead of assembly elections in one state and a Union...

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In an order that would make pension funds more transparent to retired employees, the central information commissioner (CIC) has ordered, last week, that the income and expenditure statement as well as the balance sheet of the LIC Employees’ Pension Fund is public information under the Right to...

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Moneylife Digital Team 07 August 2024
More than Rs54,657.87 crore is lying as unclaimed money in inoperative accounts of the employees' provident fund (EPF), reveals information received under the Right to Information (RTI) Act.     An application filed under the RTI Act by Aakash Goel, an engineer, management graduate and...

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Moneylife Digital Team 17 May 2024
In a landmark move, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has become India's first and only housing regulatory body to issue detailed regulations for retirement housing projects after model guidelines were issued by Union ministry of housing and urban affairs (MoHUA) in...

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Sponsored Post 22 April 2024
Retirement planning is a critical aspect of financial well-being, yet it is often overlooked or postponed by many until it becomes a pressing concern. In India, with a growing awareness of financial planning and investment, individuals are increasingly looking towards the share market not just...

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Moneylife Digital Team 02 April 2024
The new financial year in India updates rules for your savings plans, taxes and other investment matters. In this manner, from 1 April 2024, the employees’ provident fund organisation (EPFO) has introduced significant changes that should help individuals when requesting provident fund (PF)...

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IANS 27 February 2024
The Lucknow bench of the Allahabad High Court has directed the state government to pay old age pension to those petitioners who do not have Aadhaar cards and mobile phones, after verifying their genuineness through bank records.   The order was passed by a division bench of chief...

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IANS 22 February 2024
The Pension Fund Regulatory and Development Authority (PFRDA) has notified the amended Trustee Bank and Central Recordkeeping Agency regulations in order to protect the National Pension System subscribers from fraud, reduce the cost of compliance and enhance the ease of doing...

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Moneylife Digital Team 21 February 2024
The Pension Fund Regulatory and Development Authority (PFRDA) has notified the amendments to the regulations of the National Pension System (NPS) Trust and the Pension Fund to reduce the cost of compliance and enhance the ease of doing business. As per the official statement issued on...

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Moneylife Digital Team 09 February 2024
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has released a draft aimed at regulating retirement homes across the state, aligning with the model guidelines issued by Union ministry of housing and urban affairs (MoHUA) for the development and regulation of retirement homes. This...

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The public information officer (PIO) of the Life Insurance Company (LIC) of Agra, who defended himself by stating that documents regarding its pension & group scheme policy (P&GS) of employees of St Clare's School, Agra were destroyed in a fire, has been directed by the central information...

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IANS 30 January 2024
The government on Monday amended rules granting the women employee the right to nominate their son(s) or daughter(s) for family pension instead of her husband.   Minister of state (independent charge) Jitendra Singh said that the department of pensions and pensioners' welfare (DoP&PW)...

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Moneylife Digital Team 19 January 2024
While refusing to interfere in an order passed by the Securities and Exchange Board of India (SEBI), the Securities Appellate Tribunal (SAT) dismissed an appeal filed by Brightcom Group Ltd (BGL) against the SEBI order.   In an order, Meera Swarup (technical member) of SAT says,...

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IANS 18 January 2024
The Pension Fund Regulatory and Development Authority (PFRDA) has notified the point of presence (PoP) regulations for introducing a new simplified system of only one registration for the National Pension System (NPS) instead of multiple registrations required earlier, the finance ministry...

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Moneylife Digital Team 07 November 2023
Pensioners who get their due pension through pension disbursing authorities (PDAs), such as the bank or the post office, are required to furnish a 'life certificate' or 'jeevan pramaan patra' to these PDAs once every year. This life certificate is submitted by presenting themselves personally...

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IANS 18 September 2023
Government on Monday announced family pension at a uniform rate of 30% for the welfare of the families of LIC employees.   It has also enhanced the gratuity limit from Rs3 lakh to Rs5 lakh for LIC agents.   Announcing a slew of welfare measures for LIC agents and employees,...

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Moneylife Digital Team 05 June 2023
During the financial year (FY)21-22, the employees' provident fund organisation (EPFO) had 167.0mn (million) members with the Aadhaar-validated universal account numbers (UAN). However, only 18.56% or 31.0mn members credited the employee-employer contribution for the entire year, reveals a...

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Abhay Datar 28 April 2023
I had discussed certain practical difficulties one may face while opting for a higher pension in my article. Though I received a few queries, I was unable to provide any solution for want of something authentic. All these queries were related to the amount of the likely pension. I kept...

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