Finance : Compare UPS, NPS, and OPS pension schemes. Understand their features, benefits, drawbacks, and eligibility criteria to choose the ...
Finance : This article explores the NPS tax benefits, its features, and how it compares to other popular tax-saving instruments. Additionall...
Finance : Summary: The National Pension System Vatsalya (NPS Vatsalya) scheme, launched by the Ministry of Finance, aims to foster early sa...
Corporate Law : Learn how to calculate EPS pension, eligibility criteria, and the different types of pensions available under the Employee Pension...
Income Tax : Understand the potential of Section 80CCD New Pension Scheme and maximize your tax savings. Learn about deductions for employees a...
Corporate Law : The National Pension System (NPS) offers flexible, low-cost pension options with digital accessibility, aiming to expand coverage ...
Corporate Law : Stakeholders and public can provide feedback on draft Unified Pension Scheme Regulations, 2025, under NPS for Central Government e...
Corporate Law : Discover the 'Vatsalya' pension scheme for minors launched by the Ministry of Finance. Learn about contributions, conversion optio...
Corporate Law : Explore vital role of pensions in securing financial stability during retirement, as discussed by PFRDA Chairperson. Learn about N...
Corporate Law : Explore the Government's plans for offering a guaranteed pension under NPS and the consideration of reverting to Old Pension Schem...
Income Tax : ITAT Ahmedabad held that PFRDA Act, 2013 doesn’t prescribed any due date for payment of employee’s contribution to National Pe...
Income Tax : In the case of G.K. Reddy vs. DCIT, Madras High Court has directed the Income Tax Department to lift the attachment of a pension a...
Corporate Law : PFRDA mandates Aadhaar-based authentication for NPS transactions in government offices, enhancing security with two-factor login f...
Finance : Unified Pension Scheme under NPS offers assured payouts to Central Government employees, effective April 1, 2025, with flexible co...
Corporate Law : Govt clarifies that a daughter’s name cannot be deleted from a pensioner’s family record, with eligibility for family pension ...
Corporate Law : The Department of Pension announces a Dearness Relief hike to 53% for Central Govt pensioners and family pensioners, effective Jul...
Corporate Law : PFRDA Circular mandates that annuity cancellations for NPS subscribers can only occur during the free look period, effective immed...
Simplification of pension procedure – i) Handing over of PPO to the retiring employee by the Head of Office before retirement and (ii) Submission of undertaking by retiring Government servant along with pension papers
PFRDA takes various initiatives from time to time in order to simplify and improve the operational issues in National Pension System (NPS) like new functionality development under NPS architecture, simplification of account opening, withdrawal, grievance management etc.
In the case of the member who superannuates on attaining the age of 58 years, and who has rendered 20 years pensionable service or more, his pensionable service shall be increased by adding a weightage of 2 years.
In 2013 we had recommended to the Parliamentary Committee of the Social Justice and Empowerment Ministry chaired by Mr Hemanand Biswal the amount of 1000 Rs ( which is recorded in the report). In 2017 with inflation and consequent indexing it wall be Rs 2000/- which is half the minimum working wage as prescribed by Government of India.
Disbursement of pension and other benefits.- (1) The Commissioner shall, with the approval of the Central Board, enter into arrangement for the disbursement of pension and other benefits under this Scheme with disbursing agencies like post office or nationalised banks or Treasuries or scheduled commercial banks including regional rural banks or co-operative banks through electronic or digital funds transfer system.
Need to create awareness on pension at grassroots level
It will be mandatory for all pensioners of the EPS’ 1995 who are desirous of continuing the benefits of the said scheme to furnish their Jeevan Pramaan/Life Certificate by 30.04.2017.
In order to facilate payment of Provident Fund and withdrawal benefit under EPS, 1995 to International Workers on the date of leaving service in India, the following instructions are issued:-
In order to provide further relief to an employee subscriber of NPS, it is proposed to amend the section 10 so as to provide exemption to partial withdrawal not exceeding 25% of the contribution made by an employee in accordance with the terms and conditions specified under Pension Fund Regulatory and Development Authority Act, 2013 and regulations made there under.
Existing provision of section 10(12A)of the Income Tax Act, 1961 provides that payment from National Pension System (NPS) to a subscriber on closurer of his account or opting out shall be exempt up to 40% of total corpus at time of withdrawal .
