RETIREMENT


Sucheta Dalal Sucheta Dalal 26 November 2013
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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Sucheta Dalal Sucheta Dalal 29 October 2013
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 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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