-The Telegraph The National Pension System is a disaster for retiring employees, says an apex body of various government unions; pension under existing scheme just 15% of that under earlier one A federation of Central government employees’ unions has written to the Cabinet Secretary to restore the Old Pension Scheme (OPS), stating that the National Pension System (NPS) is a disaster for retiring employees in their old age. The federation said a Defence...
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No annuity rider, NPS subscribers get ₹5 lakh exit option
-The Hindu Admitting that annuities now fetch paltry pensions, regulator says investors can withdraw the corpus The National Pension System (NPS) will no longer compel investors to convert 40% of their accumulated retirement corpus into an annuity, as poor yields on annuities and high inflation are translating into negative returns, the Pension Fund Regulatory and Development Authority (PFRDA) Chairman, Supratim Bandyopadhyay, said on Thursday. The regulator will issue fresh rules to soon allow...
More »No Correct System of Collecting Job Data, Says PM After Report Showed 45-Year Unemployment High
-News18.com Citing data from provident fund and National Pension System (NPS), Income Tax filings and sale of vehicles among others, the Prime Minister said crores of jobs had been created in the last four and half year. New Delhi: Facing criticism over lack of job creation by his government, Prime Minister Narendra Modi on Friday rejected allegations of rising unemployment and said crores of new jobs have been created in formal...
More »Government makes NPS withdrawal 100% tax exempt
-The Times of India NEW DELHI: The government has made the National Pension System (NPS) more attractive for investors, with the biggest bonanza going to 18 lakh central government employees. The Centre will contribute 14% of basic salary to their pension corpus, up from 10%. The employee’s contribution will remain at 10%, bringing the total contribution to 24%. Announcing the changes on Monday, finance minister Arun Jaitley said the entire withdrawal at...
More »One crore jobs in last year: Here is how PM Modi built his case during speech in Lok Sabha
-The Indian Express To lend weight to his argument, he referred to employment figures available in the system including EPF, NPS, formal and informal sector. He talked about job growth and employment towards the end of his speech. New Delhi: Rejecting criticism that the government failed to create enough jobs, Prime Minister Narendra Modi on Friday said over one crore jobs were created in the country over the past one year. The...
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