In a significant move to enhance social security for retired central government employees under the National Pension System (NPS), the government has announced additional benefits under the Unified Pension Scheme (UPS) for eligible retirees.
South Korea's state pension fund has said it recovered about half of its total investment of 612.1 billion won ($423.5 million) in major retailer Homeplus Co., which recently entered a court-led rehabilitation process amid liquidity worries.
The Centre on Wednesday said the total number of new contributing subscribers under the National Pension Scheme (NPS) stood at 62,880 in the month of July.
The recent introduction of the Unified Pension Scheme (UPS) by the Centre aims to balance the conflicting demands of fiscal responsibility and guaranteed pensions for public employees.
Around 75,000 employees of the Eastern Railway are under the New Pension Scheme (NPS) and would now have the option to switch over to the newly announced Unified Pension Scheme (UPS) by the centre.
The Central government has introduced a new pension scheme, the Unified Pension Scheme (UPS) which will come into effect from April 1, 2025.
In response to a question on the New Pension Scheme (NPS), Chief Minister Yogi Adityanath highlighted significant strides made by his administration in this regard.
Ever since, the employed class in Central government and state governments started feeling the pinch of the new pension scheme, which neither guarantees the principle amount nor the interest thereon at a fixed rate, nor offers a family pension to the deceased pensioner
The accused later dishonestly transferred the entire amount to a private account for investment in the share market, said vigilance sleuths.
Exactly twenty years after it was introduced, the participants in the New Pension Scheme (NPS) are feeling the pinch. Neither the government, nor the trade unions, nor even the beneficiaries - the employees of state and central governments - heeded the economists' hints and analytical advice at that time.
