New Delhi: The government has approved a hefty 24% hike in the pay packets and pensions of members of Parliament (MPs), with retrospective effect from 1 April 2023. The revision, carried out under the Salary, Allowances and Pension of Members of Parliament Act, 1954, is linked to the Cost Inflation Index specified in the Income…
Here is a look at how equity and debt categories of NPS schemes have performed over time versus the respective benchmark indices. Past performance A three-year rolling return analysis of NPS equity schemes — with at least a 10-year track record – showed average returns of 13.5%. Net asset value (NAV) history from 28 February…
National pension system (NPS) and employee provident fund (EPF) are two key retirement schemes in India. While anyone can open an NPS account, one has to be in a full-time job to contribute to EPF. Some employers now provide both, allowing employees to boost their retirement corpus while enjoying tax perks. But should you opt…
I am 65 years old. I retired from a private job and live with my wife in Delhi. My primary source of income is earnings from the stock market and fixed deposits. Can a pension plan help me optimize my tax-adjusted returns compared to a mutual fund or fixed deposit? -Name withheld on request Pension…
I receive a monthly pension from the Superannuation Fund (managed by LIC) as per the terms of my employment. I was working in a private sector company and retired recently. My employer contributed to the superannuation fund. I also received a monthly pension from EPFO under the Employees Pension Scheme 1995 and a monthly instalment…
As you are aware that the Union Government is set to roll out the Unified Pension System (UPS) from April 1, 2025 to give fixed, inflation-linked pensions to subscribers. As of now, the scheme is meant only for 23 lakh central government employees and the state government employees are permitted to opt for them. Wealth…
New Delhi: There will be no rollback of the new Unified Pension Scheme (UPS) for central government employees, a senior government official said on Tuesday. Trade unions have been demanding the rollback of employee contributions to the UPS, which combines benefits of the Old Pension Scheme (OPS) and National Pension Scheme (NPS), providing assured pensions…
The Government of India has announced the Unified Pension Scheme (UPS), a new pension plan for employees working under the government. The new scheme will provide an assured pension scheme to benefit nearly 90 lakh pensioners under the central government. The central government launched the UPS to cater to the demands of the employees regarding…
