-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...
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Over 18 million jobs created in 15 months till Nov 2018: Central Statistics Office report
-PTI The study showed that employment generation in the formal sector increased by 48 per cent to touch a 15-month high of 7.32 lakh in November 2018 as compared to 4.93 lakh in the year-ago month, as per EPFO payroll data released earlier this month. More than 18 million jobs were generated by the country’s formal sector in a 15-month period starting September 2017 and ending November 2018, suggests a study based...
More »PFRDA seeks to double pension limit under Atal Pension Yojana -Sriram Mani
-Livemint.com If approved, Atal Pension Yojana will attract more people towards the scheme and provide better inflation-beating returns New Delhi: The Pension Fund Regulatory Development Authority (PFRDA) has proposed to double the monthly pension limit to Rs 10,000 from the existing Rs 5,000 under the Atal Pension Yojana. The proposal is now under the consideration of the central government. If approved, it will attract more people towards the scheme and provide better inflation-beating...
More »Why the Modi govt's move to ditch quarterly jobs surveys to make way for EPFO-based employment data is a mistake India -Dinesh Unnikrishnan
-Firstpost.com The labour ministry has put the Quarterly Employment Survey (QES) on the back burner as it wants to transition to computing payroll data based on Employees’ Provident Fund Organisation (EPFO) subscriptions, based on data from the Employees State Insurance Corporation (ESIC) and the Pension Fund Regulatory and Development Authority (PFRDA), according to this report in The Economic Times. Of course, the EPFO-based jobs data gives one a better picture about the...
More »Lax norms linked to banking fraud: CAG
-The Times of India NEW DELHI: Blaming weaknesses in the regulatory system as being the reason behind the rising cases of financial sector fraud, comptroller and auditor general (CAG) Shashi Kant Sharma on Friday drew attention to huge non-performing assets (NPAs) of public sector banks, a significant part of which could have been fraudulently obtained as advances by debtors and transferred abroad, from where they may never be recovered. The CAG also...
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