Lto R- LIC's MR Kumar,Chairman,Vipin Anand,MD,MK Gupta,MD at the launch of its New Jeevan Shanti plan

LIC launches Deferred Annuity plan with 5.5 % guarantee

Indian News       Oct 21, 2020

  Mumbai: In the days of falling interest rate, the life insurance behemoth Life Insurance Corporation(LIC) has launched a non-linked, non-participating, individual, single premium, deferred annuity plan-New Jeevan Shanti plan- offering an average guranteed annuity rate of 5.5% along with a risk cover..  The annuity rates...

Supratim Bandyopadhyay,Chairman,PFRDA

NPS assets exceed Rs 5 trillion, decisions on higher fees and guaranteed products soon

Indian News       Oct 15, 2020

  New Delhi: Even as the National Pension System(NPS ) is getting ready to add more pension fund managers by offering higher fees,the total assets under management in the segment  and Atal Pension Yojana(APY) have crossed Rs 5 lakh crore. Besides, PFRDA hopes to hit a...

India to fall below Bangladesh in terms of per capita GDP in 2020

International News       Oct 14, 2020

  New Delhi: The International Monetary Fund on Tuesday estimated that  India will fall below Bangladesh in terms of per capita Gross Domestic Product (GDP) as the economy, is projected to contract by a massive 10.3 per cent this year. India’s Gross Domestic Product will shrink...

Govt scraps requirement of min 7 year continuous service for enhanced family pension

Indian News       Oct 05, 2020

New Delhi: The Defence Ministry has scrapped the requirement of minimum continuous service of seven years for grant of enhanced ordinary family pension (EOFP) to the next of kin of deceased defence personnel, an official statement said Monday. An EOFP is 50 per cent of...

EPFO records 8.45 lakh new enrolments in July

Indian News       Sep 20, 2020

  NEW DELHI : Net new enrolments with retirement fund body EPFO rose to 8.45 lakh in July from 4.82 lakh in June 2020, according to its latest payroll data, providing a perspective on employment in the formal sector amid the COVID-19 crisis. Provisional payroll data...

Supratim Bandyopadhyay,chairman,PFRDA

PFRDA wants more players and higher cost structure for NPS fund managers: Chairman

Indian News       Sep 18, 2020

  New Delhi: Supratim Bandyopadhyay, chairman,Pension Fund Regulatory and Development Authority (PFRDA), has indicated the cost structure of pension fund managers and intermediaries of the the National Pension System (NPS) was likely to change soon and much awaited requests for proposals(RFP) for pension fund managers could...

EPFO decides to credit part of 8.5% interest for FY20: Report

Indian News       Sep 09, 2020

Retirement fund group EPFO on Wednesday decided to credit a part of 8.5 per interest on employees provident fund (EPF) for 2019-20 into the account of its around 60 million subscribers. The decision to provide 8.15 per cent interest on EPF has been taken at...

Cabinet discusses labour reforms, to push remaining 3 Codes in Monsoon session

Indian News       Sep 08, 2020

New Delhi: The Union Cabinet is believed to have discussed labour reforms in detail on September 8 so that the remaining three Codes pending in the Lok Sabha could be pushed for Parliament nod during the Monsoon session beginning on Monday. "The Union Cabinet headed...

Dubai dusts off a two-year-old plan to lure wealthy retirees as expats begin to move out

Facts       Sep 05, 2020

  Dubai is looking to attract retirees by gearing up a program first started two years ago that’s taken on greater urgency as the Middle East business hub contends with the flight of expatriates amid an economic downturn. Foreigners over the age of 55 will be...

Supratim Bandyopadhyay, Chairman,PFRDA 

PFRDA mulling launching minimum assured return-based pension scheme

Indian News       Aug 30, 2020

  New Delhi:: The Pension Fund Regulatory and Development Authority (PFRDA) is working on a minimum assured return-based pension scheme, its Chairman Supratim Bandyopadhyay said. The pension authority is in talks with pension funds and actuarial firms to work out the modalities of the proposed scheme,...

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