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The Employee Pension Scheme (EPS) provides a monthly pension to employees after age 58, based on their salary and years of service. For a basic salary of Rs 68,000, the monthly pension would vary depending on the years of service. Let’s calculate the pension for 15, 28, and 32 years of service to understand the…
Mumbai: Finance Minister Nirmala Sitharaman on Tuesday urged regulators and departments to expedite the process of refund to rightful owners of unclaimed amounts in the financial sector, including bank deposits, dividends, shares, post office accounts, insurance, and pension funds. Addressing the 29th meeting of the Financial Stability and Development Council (FSDC) here, the Finance Minister…
Unified Pension Scheme Last Date To Apply: Good News For Central Government Employees! The government launched the Unified Pension Scheme (UPS) on April 1, 2025, for its employees. The Unified Pension Scheme (UPS) offers a fixed pension after retirement, subject to specific conditions. In contrast, the National Pension System (NPS) does not guarantee a set…
Mumbai: The Reserve Bank of India proposes to cap a single regulated entity’s (RE) contribution to any Alternative Investment Funds (AIF) at 10 per cent of its corpus while collectively, a ceiling of 15 per cent will apply for investment by all REs in an AIF scheme, in the revised draft directions issued on Monday….
The Employee Pension Scheme (EPS) gives you a fixed income after retirement. You can start receiving a pension at 58 or opt for early pension at 50. If you leave your job 10 years before turning 58, you can withdraw the pension amount in one go at 58. Let’s calculate your monthly pension with a…
The Ministry of Finance recently announced a significant milestone for the Atal Pension Yojana (APY), with over 7.15 crore subscribers enrolled under the scheme as of December 2, 2024. Highlighting the program’s success, the Ministry posted on X, “With more than seven crore subscribers under Atal Pension Yojana #APY, offers secure retirement with guaranteed #PensionBenefits,…
New Delhi: Employee unions have long advocated for increasing the minimum pension amount under the Employees’ Pension Scheme (EPS), 1995, with representations from employees and other stakeholders. Regarding an increase in the pension amount, Member of Parliament Asaduddin Owaisi raised questions in the Lok Sabha about any proposal to increase the minimum pension amount under…
The Finance Department, over the years, has put in a process to filter the ineligible beneficiaries. Thiruvananthapuram: A detailed inspection done over the way the Kerala government’s monthly Rs 1,600 social welfare pension is being distributed has revealed that the amount is also being taken by at least 1,458 serving government officials including Gazetted officers….
New Delhi: The Department of Pension and Pensioners’ Welfare (DoPPW) under the Ministry of Personnel, Public Grievances & Pensions (PERSMIN) has recently issued an Office Memorandum (OM) laying down latest guidelines regarding changing of spouse’s name or surname after retirement. The office memorandum issued on 24 October 2024, clarifies the procedures for pensioners said, “There…
New Delhi: PhonePe has announced the launch of contributions to NPS (National Pension System) as a new savings category under Bharat Connect (earlier known as BBPS), on its platform. “With this launch, PhonePe enables millions of users to now make seamless, secure and easy contributions to their NPS account through the PhonePe app,” the company…