pension scheme

Employee Pension Scheme for International Workers

Corporate Law - With the globalization of Indian economy and increase in development of international trade the movement of workers across the world has also been increased. Social security is an important aspect while structuring the international assignments for the employees. Any social security benefit payable in the host country may become an added ...

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Opening of Individual Pension Account under eNPS

Corporate Law - To create a retirement corpus one of the secured way is National Pension Scheme (NPS). Resident as well as Non- Resident can open this account. Do you want to know how to start contributing to NPS without going anywhere physically? Let’s find the answer below. There is an eNPS facility which you can use to […]...

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Retirement Saving – National Pension System (NPS)

Corporate Law - NATIONAL PENSION SYSTEM (N.P.S.) BACKGROUND The National Pension System is a defined contribution scheme launched by Pension Fund Regulatory & Development Authority (P.F.R.D.A) in 2004 for government employees & subsequently in 2009 for all citizen. The eligible subscribers are allotted a 12 digit unique Permanent Retirement Accou...

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Income Tax benefits under National Pension Scheme (NPS)

Corporate Law - NPS is a government-sponsored pension scheme. It was launched in January 2004 for government employees. However, in 2009, it was opened to all sections. The scheme allows subscribers to contribute regularly in a pension account during their working life. On retirement, subscribers can withdraw a part of the corpus in a lump sum and use ...

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Types of accounts under National Pension System

Corporate Law - A person can open two accounts under National Pension System (NPS). The main account is called Tier I account and an additional account is labelled as Tier II account. Let us understand about both of these accounts. Features of Tier I NPS account: Tier I is the default and proper pension account under NPS. This […]...

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Steps taken to help Pensioners during COVID-19 Pandemic

Corporate Law - Department of Pension & Pensioners' Welfare, since the lock-down on account of the unprecedented COVID-19 pandemic, has been taking various initiatives for the pensioners, to ensure the timely credit of pension & retirement benefits and keep them healthy and aware during this time of COVID-19 pandemic....

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Ombudsman under NPS & Atal Pension Yojana

Corporate Law - Pension Fund Regulatory and Development Authority (PFRDA) has appointed Shri Arnab Roy as Stipendiary Ombudsman in terms of PFRDA (Redressal of Subscriber Grievance) Regulations, 2015 for resolving NPS/APY subscriber grievances....

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Modification in Partial Withdrawal rules under NPS

Corporate Law - Modification in Partial Withdrawal rules under NPS: Partial withdrawals will now be allowed to NPS subscribers who wish to improve their employability or acquire new skills by pursuing higher education/ acquiring professional and technical qualifications. Further, individual NPS subscribers who wish to set up a new business/ acquire new b...

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‘View Pension Passbook’ Service for pensioners through Umang App

Corporate Law - Employees’ Provident Fund Organisation (EPFO), which is providing a host of e-services for its stakeholders, has now introduced a new service through ‘UMANG app’. On clicking ‘View Passbook’ option, it requires PPO Number and Date of Birth information to be entered by the pensioner. ...

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Investment Limit for Sr Citizens doubled to Rs.15 lakh under PMVVY

Corporate Law - The Union Cabinet chaired by chaired by Prime Minister Shri Narendra Modi has given its approval for extending the investment limit from Rs 7.5 lakhs to Rs 15 lakhs as well as extension of time limits for subscription from 4th May 2018 to 31st March, 2020 under the Pradhan Mantri Vaya Vandan Yojana (PMVVY) as part of Government's commitme...

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Pension can not be withheld for indefinite period contrary to Section 9(4) of C.G. Civil Service (Pension) Rules, 1976

Krishna Kumar Tiwari Vs State of Chhattisgarh (Chhattisgarh High Court) - Krishna Kumar Tiwari Vs State of Chhattisgarh (Chhattisgarh High Court) Pension can not be withheld for indefinite period contrary to Section 9(4) of C.G. Civil Service (Pension) Rules, 1976. FULL TEXT OF THE HIGH COURT ORDER /JUDGEMENT 1. Heard. 2. The grievance of the petitioner is that the petiti...

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Contribution to PNB Employees Pension Fund Trust allowed

Punjab National Bank Vs Add. CIT (ITAT Delhi) - Whether the disallowance of contribution made to PNB Employees Pension Fund Trust, which the assessee claims to be its legitimate business expenditure is justified in law?...

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Family Pension claim not acceptable if option to join scheme was not exercised

Ganesh Prasad Mishra Vs Commissioner EPF Organization (Madhya Pradesh High Court at Indore) - The Hon'ble MP High court in the above stated case placing reliance on the decision of Hon'ble Supreme court in the case of Rajasthan State Road Transport Corporation vs. President, Rajasthan Roadways Union & Anr....

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Transfer of Legacy Funds of NPS Subscribers of Govt Sectors

PFRDA/17/07/0001/2017-SUP-C - (15/02/2021) - Transfer of Legacy Funds of NPS Subscribers of Government Sectors (SGs/ CABs/ SABs) pursuant to opening of choice of Investment schemes and Pension Funds- reg....

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Online exit process for NPS subscribers associated with POPs

CIR No.: PFRDA/2020/55/SUP-ASP/2 - (28/12/2020) - PFRDA offers NPS Subscribers comprehensive and digitally enabled solutions for their diverse needs viz. on-boarding, servicing, exit and facilitating issuance of annuity as per their choice, through its registered intermediaries and empanelled Annuity Service Providers (ASPs)....

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Central Govt pensioner can submit Life Certificate till 28.02.2021

Notification No. 18/1/2020-P&PW(H)-Vol-III-6786 - (23/11/2020) - his year, all Central Government pensioners may submit Life Certificate from 1st November, 2020 onward, till February 28, 2021. During this extended period, the pension will be continued to be paid by the Pension Disbursing Authorities (PDAs) uninterrupted....

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PFRDA (Exits and Withdrawals Under the National Pension System) (Amendment) Regulations, 2020

Notification No. PFRDA/12/RGL/139/8 - (29/09/2020) - 1. These regulations may be called the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Amendment) Regulations, 2020. 2. These shall come into force on the date of their publication in the official gazette....

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e-Nomination facility for NPS subscribers

CIR No : PFRDA/2020/37/SUP-CRA/15 - (03/09/2020) - PFRDA has issued a Circular pertaining to ‘e-Nomination facility for NPS Subscribers’ in order to help and guide the Subscribers of NPS in understanding detailed provisions regarding ‘Nominations’ under NPS and process flow of e-Nomination facility....

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Recent Posts in "pension scheme"

Transfer of Legacy Funds of NPS Subscribers of Govt Sectors

PFRDA/17/07/0001/2017-SUP-C (15/02/2021)

Transfer of Legacy Funds of NPS Subscribers of Government Sectors (SGs/ CABs/ SABs) pursuant to opening of choice of Investment schemes and Pension Funds- reg....

Read More

Steps taken to help Pensioners during COVID-19 Pandemic

Release ID: 1697152 (11//0/2/20)

Department of Pension & Pensioners' Welfare, since the lock-down on account of the unprecedented COVID-19 pandemic, has been taking various initiatives for the pensioners, to ensure the timely credit of pension & retirement benefits and keep them healthy and aware during this time of COVID-19 pandemic....

Read More
Posted Under: Corporate Law |

Employee Pension Scheme for International Workers

With the globalization of Indian economy and increase in development of international trade the movement of workers across the world has also been increased. Social security is an important aspect while structuring the international assignments for the employees. Any social security benefit payable in the host country may become an added ...

Read More
Posted Under: Corporate Law |

Online exit process for NPS subscribers associated with POPs

CIR No.: PFRDA/2020/55/SUP-ASP/2 (28/12/2020)

PFRDA offers NPS Subscribers comprehensive and digitally enabled solutions for their diverse needs viz. on-boarding, servicing, exit and facilitating issuance of annuity as per their choice, through its registered intermediaries and empanelled Annuity Service Providers (ASPs)....

Read More

Opening of Individual Pension Account under eNPS

To create a retirement corpus one of the secured way is National Pension Scheme (NPS). Resident as well as Non- Resident can open this account. Do you want to know how to start contributing to NPS without going anywhere physically? Let’s find the answer below. There is an eNPS facility which you can use to […]...

Read More
Posted Under: Corporate Law |

Central Govt pensioner can submit Life Certificate till 28.02.2021

Notification No. 18/1/2020-P&PW(H)-Vol-III-6786 (23/11/2020)

his year, all Central Government pensioners may submit Life Certificate from 1st November, 2020 onward, till February 28, 2021. During this extended period, the pension will be continued to be paid by the Pension Disbursing Authorities (PDAs) uninterrupted....

Read More

Pension can not be withheld for indefinite period contrary to Section 9(4) of C.G. Civil Service (Pension) Rules, 1976

Krishna Kumar Tiwari Vs State of Chhattisgarh (Chhattisgarh High Court)

Krishna Kumar Tiwari Vs State of Chhattisgarh (Chhattisgarh High Court) Pension can not be withheld for indefinite period contrary to Section 9(4) of C.G. Civil Service (Pension) Rules, 1976. FULL TEXT OF THE HIGH COURT ORDER /JUDGEMENT 1. Heard. 2. The grievance of the petitioner is that the petitioner is now aged about 80 years [&hellip...

Read More

Retirement Saving – National Pension System (NPS)

NATIONAL PENSION SYSTEM (N.P.S.) BACKGROUND The National Pension System is a defined contribution scheme launched by Pension Fund Regulatory & Development Authority (P.F.R.D.A) in 2004 for government employees & subsequently in 2009 for all citizen. The eligible subscribers are allotted a 12 digit unique Permanent Retirement Accou...

Read More
Posted Under: Corporate Law |

PFRDA (Exits and Withdrawals Under the National Pension System) (Amendment) Regulations, 2020

Notification No. PFRDA/12/RGL/139/8 (29/09/2020)

1. These regulations may be called the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Amendment) Regulations, 2020. 2. These shall come into force on the date of their publication in the official gazette....

Read More

Ombudsman under NPS & Atal Pension Yojana

Pension Fund Regulatory and Development Authority (PFRDA) has appointed Shri Arnab Roy as Stipendiary Ombudsman in terms of PFRDA (Redressal of Subscriber Grievance) Regulations, 2015 for resolving NPS/APY subscriber grievances....

Read More
Posted Under: Corporate Law |

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