Whose pension scheme is it anyway? A pick-me-up for NPS
13 years, 8 months ago

Whose pension scheme is it anyway? A pick-me-up for NPS

Firstpost  

The New Pension Scheme, which was opened up to the general public just before the 2009 general election, has been a failure so far. After seven years of being open to government employees and two years to the general public, the funds under management are an underwhelming Rs 8,585 crore. The scheme’s fragmented structure - with seven asset management companies in the fray and multiple sellers with little incentive to sell the scheme - means that it does not get any kind of marketing push. The scheme is managed by seven players, with subscribers choosing among LIC Pension Fund, SBI Pension Funds, UTI Retirement Solutions, IDFC Pension Fund Management, ICICI Prudential Pension Funds Management, Kotak Mahindra Pension Fund and Reliance Capital Pension Fund.

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History of this topic

Govt may raise equity allocation in NPS default scheme to 25%
20 hours, 10 minutes ago

Govt may raise equity allocation in NPS default scheme to 25%

Live Mint  

NEW DELHI : India's pension regulator is planning to raise the equity component from 15% to 25% in the default scheme for central government employees under the National Pension System, said two people close to the discussions. In the default scheme, only government pension fund managers—SBI Pension Funds Pvt. Other fund managers such as HDFC Pension Management, ICICI Prudential Pension …

How India’s youngest pension fund gamed a falling market to outdo its older rivals
3 weeks, 6 days ago

How India’s youngest pension fund gamed a falling market to outdo its older rivals

Live Mint  

The annual report card for equity pension fund managers is out, and DSP's NPS Equity Fund has delivered a staggering 11.68% return in the last one year—five times higher than the second-best performer, which posted a modest 2.3%. Among the 11 funds in this category, six recorded negative returns in the last year, according to the pension fund regulator's NPS …

Why NPS should be a part of your retirement plan? 5 things to know
1 month ago

Why NPS should be a part of your retirement plan? 5 things to know

India Today  

Retirement planning is essential to a stress-free and financially secure future. Higher Returns with NPS When compared to traditional fixed-income investments like fixed deposits and Public Provident Funds, NPS offers superior returns over the long run. Investments under NPS are overseen by qualified pension fund managers, ensuring the majority of your contributions are invested towards wealth creation rather than paying …

New universal pension scheme in the works—What it means for Indians
1 month ago

New universal pension scheme in the works—What it means for Indians

Live Mint  

The government is working on a universal pension scheme that will be offered to all citizens, including those in the unorganised sector, reported NDTV on Wednesday, citing Labour Ministry sources. A key difference between the new universal pension proposal and existing schemes, such as those under the Employees' Provident Fund Organisation, is that individuals will contribute voluntarily, and the government …

Government plans Universal Pension Scheme: Who will benefit?
1 month, 1 week ago

Government plans Universal Pension Scheme: Who will benefit?

India Today  

The government is planning a Universal Pension Scheme that would allow people to contribute voluntarily and receive pension benefits after retirement, according to a report by The Economic Times. The Universal Pension Scheme is expected to benefit a wide range of people, including unorganised sector workers, traders, self-employed individuals, and other citizens aged 18 and above who want to secure …

Why NPS can be your only retirement plan
1 month, 3 weeks ago

Why NPS can be your only retirement plan

New Indian Express  

The benefits of the National Pension Scheme significantly far outweigh the effort needed to learn and understand about investing. For years, you have put aside money for your retirement through employee provident funds, public provident funds, other government guarantee schemes or fixed deposits. Pension schemes across many countries in Europe are based on government guarantees. In India, 32.7 crore people …

MPs back formal review of NSC's pension referendum plan
2 months, 1 week ago

MPs back formal review of NSC's pension referendum plan

Dutch News  

A majority of MPs have voted to ask the government’s highest-ranking advisory body, the Council of State, to assess plans to hold referenda on the new pension legislation. Two parties from the ruling right-wing coalition – the NSC and BBB – want to give workforces and pensioners the right to vote on whether their fund should move to the new …

NPS: This pension fund manager gave the highest return of 26% in past one year. Check top performers here
2 months, 4 weeks ago

NPS: This pension fund manager gave the highest return of 26% in past one year. Check top performers here

Live Mint  

The National Pension System is a retirement savings scheme that is mandatory for government employees and optional for those in the private sector. One must invest a minimum of ₹500 to open a Tier-1 account and at least ₹1,000 per year to maintain it. The highest one-year-return of 26.51 per cent was posted by DSP Pension Fund Managers while the …

NPS: This pension fund manager gave the highest return of 26% in past one year. Check top performers here
2 months, 4 weeks ago

NPS: This pension fund manager gave the highest return of 26% in past one year. Check top performers here

Live Mint  

The National Pension System is a retirement savings scheme that is mandatory for government employees and optional for those in the private sector. One must invest a minimum of ₹500 to open a Tier-1 account and at least ₹1,000 per year to maintain it. The highest one-year-return of 26.51 per cent was posted by DSP Pension Fund Managers while the …

NPS Vs PPF: Choosing The Right Retirement Plan For Your Future
3 months, 4 weeks ago

NPS Vs PPF: Choosing The Right Retirement Plan For Your Future

ABP News  

NPS Vs PPF: As retirement planning gains importance, consistent investments over the years have become the cornerstone of creating a robust financial corpus. PPF suits those seeking low-risk, guaranteed returns, while NPS offers higher growth potential through diversified market-linked investments. Both plans offer tax benefits under Section 80C of the Income Tax Act, though NPS allows an additional deduction of …

Resurrecting the New Pension Scheme (NPS)
6 months, 2 weeks ago

Resurrecting the New Pension Scheme (NPS)

Times of India  

There is nothing called a perfect public policy scheme – best epitomised into NPS’ failure to stand up to popular expectations. Government employees reluctantly joining the NPS as reluctant subscribers jokingly called it as ‘No Pension Scheme’. Yet, until the unified pension scheme came recently, there was no alternative for the large NPS subscribers, perceiving themselves as poor cousins to …

Unified Pension Scheme: How does it differ from the Old and New Pension Scheme?
7 months ago

Unified Pension Scheme: How does it differ from the Old and New Pension Scheme?

The Hindu  

The story so far: Fulfilling a long-standing demand of government unions, the Centre on Saturday, unveiled a new ‘Unified Pension Scheme’ assuring government employees half their last drawn salary as a lifelong monthly benefit. The move is also a surprising rollback by the NDA government as it was the original NDA – the Atal Bihari Vajpayee government – which had …

Ecostani | Unified Pension Scheme, a moral victory for the Opposition
7 months ago

Ecostani | Unified Pension Scheme, a moral victory for the Opposition

Hindustan Times  

The Unified Pension Scheme approved by the Union government on Saturday — a mix of contribution and assured pension, to replace the New Pension Scheme, a wholly contributory mechanism — will provide some social security to government employees after retirement. The scheme, which is virtually akin to the Old Pension Scheme that NPS replaced in 2004, assures government employees 50% …

New pension scheme to benefit central govt staff
7 months, 1 week ago

New pension scheme to benefit central govt staff

Hindustan Times  

The Union cabinet led by Prime Minister Narendra Modi on Saturday approved a new pension policy for nearly 2.3 million central government employees, unveiling a framework that will give assured 50% of basic pay as monthly payout, assuaging federal staff unions that had sought guaranteed retirement benefits. Modi had set up a panel led by cabinet secretary-designate TV Somanathan, the …

Telangana Government Workers Reject Centre’s Pension Plan
7 months, 1 week ago

Telangana Government Workers Reject Centre’s Pension Plan

Deccan Chronicle  

Hyderabad: In a strong show of resistance, state government employees covered under the New Pension Scheme have expressed their firm opposition to the Unified Pension Scheme approved by the Union Cabinet on Saturday. The National Movement for Old Pension Scheme secretary-general, G. Sthitaprajna, voiced the employees' dissatisfaction with the new Unified Pension Scheme announced by the Centre. "If a government …

Budget 2024: Central govt employees may receive 50 per cent of last drawn salary as pension under NPS
8 months, 3 weeks ago

Budget 2024: Central govt employees may receive 50 per cent of last drawn salary as pension under NPS

India TV News  

As the Finance Ministry prepares to present the 2024–25 fiscal year budget, the National Democratic Alliance government is contemplating a significant reform for central government employees. According to a report by the Times of India, the government may offer 50% of the last drawn salary as a pension under the National Pension System. Addressing employee concerns This proposed move aims …

Budget 2024: Central government staff could get 50% final pay as pension
8 months, 3 weeks ago

Budget 2024: Central government staff could get 50% final pay as pension

India Today  

The upcoming Budget 2024 is just a few weeks away, and the government may offer 50% of the final pay drawn as a pension for central government employees enroled under the National Pension System. Read Full Budget 2024 Coverage While the government has dismissed the idea of returning to the Old Pension Scheme, it is considering ways to provide reassurance …

NPS scheme may get a makeover in Interim Budget 2024
1 year, 2 months ago

NPS scheme may get a makeover in Interim Budget 2024

India Today  

India is expected to consider extending tax concessions on contributions and withdrawals in the upcoming Interim Budget 2024, in an effort to make the National Pension Scheme more attractive, as per a Deloitte report The government might specifically focus on individuals aged 75 and above. Corporations enjoy tax exemptions for contributions up to 10 per cent of the basic salary …

Will deliberate on Old Pension Scheme after panel report: Amit Shah
1 year, 4 months ago

Will deliberate on Old Pension Scheme after panel report: Amit Shah

The Hindu  

Union Home Minister Amit Shah said on Thursday that the government would deliberate on restoring the Old Pension Scheme once the committee constituted for the purpose submitted its report. Mr. Shah, while replying to a question on restoration of the OPS at a press conference in Jaipur, said, “We have constituted a committee to study the OPS. As soon as …

It is time for India’s 97% to speak up against the Old Pension Scheme
1 year, 4 months ago

It is time for India’s 97% to speak up against the Old Pension Scheme

Live Mint  

Few will dispute that the Indian economy’s recovery from the covid shock has been better than that of most other major economies, barring perhaps the US. If this admittedly K-shaped rebound is to continue apace and become more equitable, government spending must hold up; and, as a corollary, the health of government finances isn’t imperilled. In a country inured to …

Mix Of OPS & NPS! How Guaranteed Pension Scheme Will Work In Andhra Pradesh?
1 year, 5 months ago

Mix Of OPS & NPS! How Guaranteed Pension Scheme Will Work In Andhra Pradesh?

News 18  

The Andhra Pradesh government is planning to implement a Guaranteed Pension System for its employees, which is a hybrid model of the Old Pension Scheme and the New Pension Scheme. Under the GPS, all state government employees will be eligible for a guaranteed monthly pension of 50% of their last drawn basic salary and dearness allowance. Old Pension Scheme The …

‘We strongly support’: Kejriwal on demands to bring back old pension scheme
1 year, 6 months ago

‘We strongly support’: Kejriwal on demands to bring back old pension scheme

Hindustan Times  

Delhi chief minister Arvind Kejriwal on Sunday expressed his support for the demands of central and state government employees to reinstate the old pension scheme, who have also staged a protest for the same. The Congress party also joined the chorus in support of the protest against the New Pension Scheme and the call to restore the old pension scheme. …

Restore Old Pension Scheme before 2024 election, employees urge Centre
1 year, 7 months ago

Restore Old Pension Scheme before 2024 election, employees urge Centre

The Hindu  

Thousands of employees of the Union government and Central public sector undertakings, including the defence establishments, marched to Ramlila Maidan here on Thursday demanding the restoration of the Old Pension Scheme. After the protest rally, organised by the Joint Forum for Restoration of Old Pension Scheme, a platform of about 60 unions, the employees sent a memorandum to Prime Minister …

Govt Likely To Change NPS Rules For 40%-45% Assured Pension: Report
1 year, 9 months ago

Govt Likely To Change NPS Rules For 40%-45% Assured Pension: Report

ABP News  

The central government is considering revising the current market-linked National Pension Scheme to provide its employees with a minimum pension of 40 per cent to 45 per cent of their last drawn salary, reported news agency Reuters citing two government officials. Under the current National Pension Scheme, employees are required to contribute 10 per cent of their basic salary, while …

Rethink on NPS for govt. employees: Committee formed under Finance Secretary, no deadline set
1 year, 11 months ago

Rethink on NPS for govt. employees: Committee formed under Finance Secretary, no deadline set

The Hindu  

The Finance Ministry on Thursday notified the formation of a committee to review the pension system for government employees as announced by Finance Minister Nirmala Sitharaman in Parliament, while moving amendments to the Finance Bill of 2023. The order does not specify a deadline for the panel, which Ms. Sitharaman had said was being formed as “representations have been received …

National Pension System (NPS): Why you must opt for this scheme
2 years ago

National Pension System (NPS): Why you must opt for this scheme

Live Mint  

NPS offers a high degree of flexibility to subscribers' in making their contributions, choice of fund manager and allocation of investments according to one’s risk appetite. 2) Husband-wife duo can enroll: Since NPS is an individual pension account, self-employed couples who run their family business can open separate NPS accounts and avail the tax benefits in their individual capacity. Not …

Explained: National Pension Scheme (NPS) vs Old Pension Scheme (OPS)
2 years ago

Explained: National Pension Scheme (NPS) vs Old Pension Scheme (OPS)

Hindustan Times  

With every passing day, demand for the restoration of the Old Pension Scheme is growing louder. Centre rolls out a one-time option for select employees to opt for OPS The central government recently decided to offer a one-time option for the "Old Pension Scheme" to a select group of central government employees. from the government servants appointed on or after …

’Find less costly ways...’: Raghuram Rajan speaks on Old Pension Scheme
2 years ago

’Find less costly ways...’: Raghuram Rajan speaks on Old Pension Scheme

Live Mint  

Former RBI Governor Raghuram Rajan has expressed his concern regarding the Old Pension Scheme. He said that restarting the old pension scheme would be an enormous obligation in the long run, adding, "less costly ways should be found to address the demands of government pensioners". The former RBI governor said the old pension scheme does involve massive future outlays because …

Why you should consider National Pension System (NPS) over other annuity scheme?
2 years ago

Why you should consider National Pension System (NPS) over other annuity scheme?

Live Mint  

NPS scheme: The National Pension System helps in creating a stable income source for every individual post-retirement. According to tax and investment experts, NPS provided an affordable investment model among other annuity plans available in the market along with income tax benefits. On why one should choose NPS over other annuity schemes available in market, Sreekanth Nadella, MD and CEO …

Select Central government employees can opt for Old Pension Scheme
2 years ago

Select Central government employees can opt for Old Pension Scheme

The Hindu  

In a significant decision, the government has decided to give a one-time option to select Central government employees to migrate to the Old Pension Scheme, who applied for jobs advertised before December 22, 2003, the day the National Pension System was notified but joined the service in 2004, when the NPS came into effect. The option is available to the …

Is there a middle way between the Old Pension Scheme and the New Pension Scheme? | In Focus podcast
2 years, 1 month ago

Is there a middle way between the Old Pension Scheme and the New Pension Scheme? | In Focus podcast

The Hindu  

Five states – Rajasthan, Chhattisgarh, Jharkhand, Punjab and Himachal Pradesh – have informed the Centre that they would be reverting to the Old Pension Scheme. Some analysts even believe that one of the reasons for the Congress victory in Himachal was its campaign promise to revert to the Old Pension Scheme. But government employees in different states have staged protests …

New pension scheme vs old pension scheme: Here is all you need to know
2 years, 2 months ago

New pension scheme vs old pension scheme: Here is all you need to know

India TV News  

The Indian government introduced a new pension scheme for its citizens, known as the National Pension System in 2003 and came into effect in the following year. The OPS, on the other hand, is a defined benefit scheme that provides a pension based on the individual's last drawn salary and the number of years of service. Under the OPS, the …

Recipe for bankruptcy: Montek Ahluwalia on Old Pension Scheme
2 years, 2 months ago

Recipe for bankruptcy: Montek Ahluwalia on Old Pension Scheme

India Today  

Former deputy chairman of the planning commission, Montek Singh Ahluwalia, said during an event on Friday that the reintroduction of the Old Pension Scheme by some state governments is a recipe for financial bankruptcy. #WATCH | Delhi: On the push for Old Pension Scheme by some state governments, Montek Singh Ahluwalia, the former Deputy Chairman of the erstwhile Planning Commission …

Only 76 of over 1.10 lakh govt employees opt for new pension scheme in Jharkhand
2 years, 3 months ago

Only 76 of over 1.10 lakh govt employees opt for new pension scheme in Jharkhand

Hindustan Times  

Of the 114,321 government employees in Jharkhand who were given the option to choose between the new and old pension schemes, only 76 opted to continue with the NPS as of December 28, people aware of the development said on Thursday. Going by the law of averages, all long-term investments in the market gives you a return of around 11-12 …

ECONOMIC PERSPECTIVES | Debate over old pension scheme divides State governments and Centre
2 years, 3 months ago

ECONOMIC PERSPECTIVES | Debate over old pension scheme divides State governments and Centre

The Hindu  

Published : Dec 29, 2022 10:15 IST In moves that are gathering momentum, a number of State governments are announcing or implementing decisions to reverse their shift to the new pension scheme designed largely by the Centre. Under the OPS, those who were members of the scheme, which consisted mainly of regular employees of the Central and State governments, made …

How Old Pension Scheme Is Different From NPS As Himachal CM Reiterates Promise
2 years, 3 months ago

How Old Pension Scheme Is Different From NPS As Himachal CM Reiterates Promise

News 18  

Himachal Pradesh new Chief Minister Sukhwinder Singh Sukhu on Sunday said the state government will implement old pension scheme in the first Cabinet meeting. Here’s the difference between the two: Old Pension Scheme Vs New Pension Scheme The government’s old pension scheme, referred to as the Defined Benefit Pension System, is based on the last pay drawn by the employee. …

Want to secure your finances before retirement? Check these government pension schemes
2 years, 4 months ago

Want to secure your finances before retirement? Check these government pension schemes

Firstpost  

One of the major challenges of retirement is maintaining financial stability. Keeping that in mind, the government has developed a variety of unique pension plans to guarantee the stability and financial security of the country’s elderly population after retirement. Here are some of such government retirement schemes that senior citizens can opt for: National Pension Scheme : The NPS is …

Cong, AAP Promise Old Pension Scheme: Will OPS Emerge as Key Issue in Gujarat After Himachal?
2 years, 4 months ago

Cong, AAP Promise Old Pension Scheme: Will OPS Emerge as Key Issue in Gujarat After Himachal?

News 18  

With the 182-member Gujarat Assembly election around the corner, both Aam Aadmi Party and Congress are making a range of poll promises to halt the BJP’s 27-year rule in the state. The BJP-led NDA government discontinued the old pension scheme in December 2003, following which the new pension scheme was implemented on April 1, 2004. Difference Between Old And New …

Old pension scheme will burden future taxpayers: NITI Aayog Vice-Chairman
2 years, 4 months ago

Old pension scheme will burden future taxpayers: NITI Aayog Vice-Chairman

The Hindu  

NITI Aayog Vice-Chairman Suman Bery on Sunday expressed concern over the revival of Old Pension Scheme by some states, saying it would burden future taxpayers at a time when India needs to focus on fiscal prudence and promoting sustained growth. In an interview to PTI, Mr. Bery also underlined the need for enhancing capital expenditure and creating a space for …

Punjab government approve the implementation of Old Pension Scheme
2 years, 4 months ago

Punjab government approve the implementation of Old Pension Scheme

Live Mint  

At a time when the Old Pension Scheme is turning into a political issue with political parties promising restoration of scheme during elections, the Bhagwant Mann-led Punjab government approved the notification for implementation of the OPS in the state. An official of the government claimed that the decision will benefit 1.75 lakh government employees and currently, about 1.26 lakh employees …

Will Old Pension Scheme dent BJP's chances in Himachal?
2 years, 4 months ago

Will Old Pension Scheme dent BJP's chances in Himachal?

India Today  

In Himachal Pradesh, the opposition Congress and Aam Aadmi Party have been wooing government employees with the promise of bringing back the old pension scheme. Himachal Pradesh Congress President Pratibha Singh announced that her party will implement OPS on the first day of the formation of the government in the state. Prominent BJP leader and two-time chief minister of Himachal …

NPS subscribers can now invest up to 75% in equity — Know all about it
2 years, 5 months ago

NPS subscribers can now invest up to 75% in equity — Know all about it

Firstpost  

PFRDA has decided to allow an option to allocate 100 percent of a subscriber’s contribution to Asset Class E in Tier-II under the active choice without any conditions of tapering from the age of 51 years The equity allocation guidelines for National Pension System accounts have been recently modified by the Pension Fund Regulatory Authority. Further, PFRDA has decided to …

NPS Subscribers Can Now Invest Up To 75% In Equity — Here's What It Means
2 years, 5 months ago

NPS Subscribers Can Now Invest Up To 75% In Equity — Here's What It Means

News 18  

The Pension Fund Regulatory Authority has recently revised the equity allocation standards for National Pension System accounts. As a result, NPS subscribers can now invest up to 75 percent of their funds to equity under active choice without any conditions of tapering from the age of 51 years as earlier. Under NPS-All Citizen Model, as of now, subscribers have the …

Pension systems should be fair and sustainable
2 years, 5 months ago

Pension systems should be fair and sustainable

Live Mint  

Elections in key states are round the corner and a pitch for switching back to India’s old system of state pensions is growing louder. Himachal Pradesh state Congress chief Pratibha Singh recently promised that the party will bring back a defined-benefits package within 10 days if voted to power, echoing a promise party leader Rahul Gandhi made in Gujarat, another …

New pension scheme vs old pension scheme. Which is better?
2 years, 6 months ago

New pension scheme vs old pension scheme. Which is better?

Live Mint  

Several states are reversing back to the old pension scheme. States like Rajasthan, Chhattisgarh and Jharkhand have already implemented the old pension scheme. Amit Gupta, MD, SAG Infotech explained all that about the two pension schemes Old pension scheme In the OPS, upon retirement, employees receive 50 percent of their last drawn basic pay plus dearness allowance or their average …

Why Old Pension Scheme is bad politics, bad economics
2 years, 6 months ago

Why Old Pension Scheme is bad politics, bad economics

Hindustan Times  

More and more opposition parties in India seem to be warming to the idea of reverting to the Old Pension Scheme. The OPS offers guaranteed, inflation- and pay commission-indexed pension payments to retired government employees and their spouses without any contribution from the employees. The New Pension Scheme – it was first implemented by the Centre in 2004 and 27 …

NPS for Corporate Employees: Know About Additional Avenue For Retirement Planning
2 years, 7 months ago

NPS for Corporate Employees: Know About Additional Avenue For Retirement Planning

News 18  

The National Pension System, a government- What is National Pension System? The NPS Corporate Sector Model is the customised version of core NPS to suit various organisations and their employees to adopt NPS as an organised entity within the purview of their employer-employee relationship. The Risk Rating System Recently, the Pension Fund Regulatory and Development Authority of India rules have …

NPS scheme: 5 reasons to opt this plan for better return with minimum risk
2 years, 7 months ago

NPS scheme: 5 reasons to opt this plan for better return with minimum risk

Live Mint  

NPS scheme: The National Pension System is a unique pension plan backed by the Government of India, which provides both equity and debt exposure in single investment. Speaking on the reason for NPS scheme gaining popularity among investors, Ajit Kumar, Chief Strategy Officer at KFintech said, "One of the reasons NPS is growing in popularity is its highly simple and …

NPS Subscribers Can Now Change Investment Pattern 4 Times In A Year; Check NPS Details
2 years, 9 months ago

NPS Subscribers Can Now Change Investment Pattern 4 Times In A Year; Check NPS Details

News 18  

National Pension System‘s subscribers will now have an option to change their asset allocation four times in a financial year. It is a government- Schemes Under the NPS In the National Pension System, there are multiple pension fund managers and investment options. “Schemes of the National Pension System are becoming an important asset for investment for long-term saving of the …

NPS To Soon Have Risk Rating System; Know How You Should Pick Best Pension Scheme
2 years, 9 months ago

NPS To Soon Have Risk Rating System; Know How You Should Pick Best Pension Scheme

News 18  

Schemes under the National Pension System will soon have ratings that will inform investors about the level of risk involved in a particular scheme that they are opting to invest in. The investment under various asset classes of the Schemes of Pension Funds would involve different level of risks for subscribers and, therefore, it is desired that the adequate disclosure …

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