RETIREMENT


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 06 February 2013
After discovering that the UIDAI is organising enrolment camps only in 18 states, the provident fund body decided to withdraw its decision to make Aadhaar number mandatory for all EPFO members The Employees' Provident Fund Organisation (EPFO) has said that looking at the difficulties in...

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MDT/PTI 25 January 2013
Trade union leaders said that it would be impossible for EPFO members to provide Aadhaar numbers as the scheme is not operational in many parts of the country New Delhi: Trade unions (TUs) have raised the red flag against the retirement fund body Employees' Provident Fund Organisation’s...

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MDT/PTI 24 January 2013
EPFO said its over 50 million existing subscribers would be given time to furnish Aadhaar numbers New Delhi: New members joining the Employees' Provident Fund Organisation's (EPFO)'s retirement fund scheme will have to mandatorily furnish Aadhaar number as know your customer (KYC)...

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Moneylife Digital Team 23 January 2013
A retirement product should be less volatile, small on charges, big on tax benefits and flexible after retirement. What does the NPS score on these parameters? The New Pension System (NPS) was compulsorily thrust upon government employees in 2004. It has also been thrown open for...

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MDT/PTI 22 January 2013
BSLI Empower offers customers a choice to select the premium amount, vesting date and risk profile   Mumbai: Birla Sun Life Insurance has launched a new pension plan, BSLI Empower, which would help customers accumulate their premiums and the investment returns into a corpus for their...

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MDT/PTI 18 January 2013
The unit-linked pension product is designed to protect the customer’s capital while attracting superior returns offered by equity as an asset class with the funds being invested in a combination of debt and equity   Gangtok: ICICI Prudential Life Insurance Company (ICICI Prudential...

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MDT/PTI 16 January 2013
HDFC Life Pension Super Plus is a regular premium unit linked plan while HDFC Life Single Premium Pension Super is a single premium unit linked plan   Kochi: HDFC Life, one of India's leading life insurance companies, has announced the launch of two pension plans in Kerala, reports...

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MDT/PTI 09 January 2013
ICICI Pru Shubh Retirement would enable consumers to build a corpus during their working years and receive assured regular pension post retirement Mumbai: ICICI Prudential Life Insurance has launched a new unit-linked pension product ICICI Pru Shubh Retirement, reports PTI.   The...

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Vivek Sharma Vivek Sharma 24 December 2012
Most of the people in India have to create their own retirement corpus in absence of social security system in the country. We need a robust system which can provide decent returns to meet old age security. New Pension System was supposed to do this but has failed. By making NPS more...

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MDT/PTI 20 December 2012
According to the sources, the preliminary estimates of EPFO indicate that the body would neither have surplus nor have deficit if it pays 8.6% rate of interest to its over 50 million subscribers. New Delhi: Retirement fund body Employees' Provident Fund Organisation's (EPFO)'s apex...

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MDT/PTI 19 December 2012
EPFO has kept in abeyance, its circular that seeks to tighten norms for initiation of inquiry against employers in PF cases and clubbing of allowances with basic wages for computing PF contribution New Delhi: Amid pressure from trade unions, Employees' Provident Fund Organisation (EPFO)...

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MDT/PTI 07 December 2012
According to the EPFO circular, the inquiry against employers cannot be initiated beyond seven years   New Delhi: Retirement fund body Employees' Provident Fund Organization (EPFO) has tightened the norms for initiation of its inquiries against employers and also set a time bar of...

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MDT/PTI 30 November 2012
Active provident fund subscribers, whose electronic challan-cum-return is already uploaded, can download their e-Passbook every month from epfindia.gov.in   New Delhi: Over 50 million provident fund subscribers can now access their accounts online as retirement fund body Employees'...

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Veeresh Malik Veeresh Malik 28 November 2012
There may be substantial sums of money in your EPFO account even after withdrawal or settlement of your claim. Here’s a quick rundown on how you can claim unaccounted EPFO money In the ongoing crusade to find out more about the way the Employees Provident Fund Organisation (EPFO) really...

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Veeresh Malik Veeresh Malik 21 November 2012
An RTI query revels that the Nagpur office of the EPFO (Employees Provident Fund Organisation) has almost half its current deposits in the ‘unclaimed’ category! The story is the same across the country. As per the latest rules, unclaimed deposits will now also stop earning...

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Veeresh Malik Veeresh Malik 30 October 2012
While the EPFO’s interaction with subscribers has improved, much remains to be done with what is essentially supposed to function like a bank but ends up like a tax authority. This is a guide to an essentially hassle-free experience to obtain details of EPFO   One of the biggest...

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AK Ramdas AK Ramdas 12 October 2012
While old peoples’ home is a shelter for many, it offers a viable investment opportunity for many others, especially the government   In the previous article—FDI in pension: What purpose can it serve? (please click here to read the article), we briefly covered the issue of the...

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