RETIREMENT


Moneylife Digital Team 18 September 2014
PFRDA chairman Verma said the government aims to cover 80 lakh under the Swavalamban pension scheme by FY15   The Indian government is targeting about 80 lakh subscribers under its Swavalambam pension scheme, a part of the ambitious financial inclusion Jan-Dhan Yojana, by the end of...

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Moneylife Digital Team 26 August 2014
Despite some protest by the trade union members of the CBT, The board decided to retain interest rate on the PF deposits at last year's level of 8.75% for FY2015   The Employees' Provident Fund Organisation (EPFO) on Tuesday decided to retain interest payment on provident fund...

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The Union Budget 2014-15 has talked about retirement saving products and in the process created confusions   The maiden budget of Narendra Modi-led National Democratic Alliance (NDA) government mentions on page 12 that that there would be a “uniform tax treatment for pension and...

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Retirement homes offer tremendous opportunity and scope for real estate business to take professional care for the elderly citizens who are now left to fend for themselves! The house of Tatas is known for their charitable disposition. And, when during the press conference in Delhi,...

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Moneylife Digital Team 13 January 2014
The EPFO had surplus funds, which enabled it to raise interest rate to 8.75% for 2013-14 from 8.5% in the previous financial year Retirement fund body Employees' Provident Fund Organisation (EPFO) on Monday decided to increase the rate of interest on provident fund (PF) deposits to 8.75%...

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Moneylife Digital Team 27 December 2013
Central Board of Trustees, the apex decision making body of EPFO, in its meeting on 14th January is likely to approve proposal to appoint a consultant to start process for selection of new fund managers The Employees’ Provident Fund Organisation’s (EPFO) is planning to decide next month...

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Elderly population in India is turning into the new customer segment that is large and distinctive with significant purchasing power Today there is an urgent need to address the wellness of present day Elders, officially designated Senior Citizens, that encompass their physical,...

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Will the next PFRDA chairman be another bureaucrat on a sinecure after exodus of PFRDA chairman Yogesh Agarwal? The process of appointing and supervising the many independent regulators in the financial sector is clearly breaking down. Over the past few years, Moneylife has repeatedly...

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The collective voices of senior citizen through Moneylife Foundation and many others has finally been heard. The government has announced that reverse mortgage annuity would be tax-free. However, there is lot more that needs to be done, including regulation, to make senior citizens live a...

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Moneylife Digital Team 02 October 2013
Unlike mutual funds, where a fund house allots units at the NAV on the same day or next business day, depending on the cut-off time for payments received, contributions to accounts in New Pension System –NPS units allotted, at least, four days and up to 10 days after, for non-cash...

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Moneylife Digital Team 04 September 2013
The newest addition to the Pension Bill allows subscribers to invest in stock market with a cap of 26% FDI and also provides old age income security for government employees The Pension Fund Regulatory and Development Authority Bill (PFRDA), 2011 was passed by the Lok Sabha today in the...

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Moneylife Digital Team 03 September 2013
Subscribers to Employees Provident Fund Organisation (EPFO) who have a complaint can now directly dial the EPFO office—not just in their region but the head office in Delhi—and the aggrieved member may end up sharing his woes with none other than the Chief Provident Fund Commissioner (CPFO)...

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Moneylife Digital Team 19 June 2013
EPFO is also introducing a facility where claimants would be able to apply online for transfer and withdrawal of their PF from 1st July   Employees’ Provident Fund Organisation (EPFO) is planning to claims like transfer and withdrawal of provident fund within three days. The move from...

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Moneylife Digital Team 23 April 2013
The central bank decided to delink the penal interest levied for delayed credit of pension, revised pension and arrears from the bank rate plus 2% and charge a fixed interest rate of 8% on such delays The Reserve Bank of India (RBI) has asked all agency banks to compensate all...

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Moneylife Digital Team 03 April 2013
Especially in the Face of Economic Turmoil Arecent research by Thomas Bridges and Frank P Stafford, of the University of Michigan Retirement Research Center, focused on how Americans reacted to economic crisis and how it affected their retirement savings. Preliminary studies by the...

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Moneylife Digital Team 29 March 2013
Employees of Muthoot Finance would be covered under the national pension scheme and  employee contribution to NPS will be linked with a contribution by the gold loan company Gold loan company Muthoot Finance Ltd has launched a pension scheme for its employees under the National Pension...

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Moneylife Digital Team 29 March 2013
Interest rate for PPF is cut to 8.7% from 8.8% while the same for SCSS would be 9.2% from 9.3%. The new rates would be applicable from 1st April The Reserve Bank of India (RBI) has notified new reduced interest rates for public provident fund (PPF) and senior citizen savings scheme...

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Moneylife Digital Team 25 March 2013
PFRDA has chosen LIC as the default annuity service-provider for subscribers exiting the New Pension System (NPS) and seeking withdrawal of accumulated pension. PFRDA has empanelled seven annuity service providers (ASPs) for NPS subscribers; the other six are: SBI Life, ICICI Prudential Life,...

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Moneylife Digital Team 05 March 2013
According to minister of state for labour and employment Kodikunnil Suresh, member-wise account of inoperative accounts was not maintained centrally in the Employees Provident Fund Organisation More than Rs22,636 crore is lying in inoperative accounts in the Employees Provident Fund,...

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Moneylife Digital Team 18 February 2013
HDFC Life Pension’s advertisement promises that your tomorrow will be just as today if you buy its pension plans. Well, tomorrow will surely be as messed up as today if you fall for it. The wise guy in the advertisement has got it all wrong—present and future HDFC Life’s advertisement on...

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