Securing a pension after retirement is a significant concern for private employees. Understanding the concept of a family pension, a crucial provision by the Employees’ Provident Fund for financial security, is paramount. Let’s delve into this pension’s eligibility, qualifications, and benefits. In today’s world, financial security is a top priority for any family. Many employees, … Read more
Great news for Defense Forces pensions! The Central Government has revised rank-wise pensions under the One Rank One Pension (OROP) scheme for retirees from the Army, Navy, Air Force, and other defense units and family pensioners. This revision will be effective from July 1, 2024. The ‘OROP Revision’ has been approved. The Government of India … Read more
The Indian Government announced a family pension at a uniform rate of 30t for the welfare of the families of LIC employees. It has also enhanced the gratuity limit for LIC agents from Rs 3 lakh to Rs 5 lakh and announced a slew of welfare measures for LIC agents and employees. These will substantially improve the … Read more
The Indian government has announced some positive changes for EPS pensioners. They will soon be able to receive their pension from any bank, regardless of their location within the country. Mansukh Mandaviya, the Union Minister of Labour and Chairman of the EPF Trust Board has confirmed that the EPF has approved implementing a centralized pension … Read more
The Atal Pension Yojana (APY), the Central Govt Pension Scheme, is a government-initiated pension plan providing financial security to unorganized workers. Subscribers can earn a guaranteed monthly pension ranging from ₹1,000 to ₹5,000 upon retirement. In India, government employees receive a pension after retirement. Pension plans are also available for private-sector employees. However, individuals working … Read more
The Indian government has announced a significant increase in pension for retired Central Government employees. The proposal includes a range of increases from 20 to 100 percent based on the age of the pensioners. Here are the details: The increase applies to retired employees under the old pension scheme who have completed 20 years of … Read more
The government is implementing various schemes to support people from all sections of the country, particularly those in the unorganized sector. One such scheme is the Pradhan Mantri Shrama Yogi Mandhan Yojana (PMSYM), which aims to provide financial assistance to workers in the unorganized sector. The scheme offers a fixed pension of Rs. 3,000 per … Read more
Prime Minister Narendra Modi recently announced the Unified Pension Scheme (UPS) for government employees, emphasizing its pivotal role in ensuring workers’ financial security. The UPS guarantees 50% of the average basic pay for the 12 months prior to retirement as a pension, along with additional benefits such as family pension, minimum pension, and inflation adjustments. … Read more
The government has announced a new Unified Pension Scheme (UPS) for central government employees, replacing the current Shared Pension Scheme (CPS). The Central Government greatly respects all government employees who work for the country’s development. The UPS Scheme has been introduced to provide financial security to all of them so that they can live with … Read more
As you approach retirement, ensuring financial stability becomes increasingly important. The National Pension Scheme (NPS) is a government-backed initiative designed to provide a reliable monthly pension, ensuring you can enjoy your golden years without financial stress. Whether you’re looking forward to spending your retirement relaxing with a book or exploring new hobbies, planning for your … Read more