The Pension Fund Regulatory and Development Authority (PFRDA) has approved a series of policy reforms aimed at strengthening the National Pension System (NPS), enhancing competition and safeguarding subscriber interests
The deadline has been extended by three months to provide more time to central government employees to decide whether they want to switch to the UPS or stay with the NPS.
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 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.
A national convention of unions and associations of Central and state government employees is being held in the National Capital on Saturday to decide the future course of action against the government.
“The aim of the government is to provide social security to all. Affordability of OPS expenditure will be achieved through financial discipline and cutting down on expenses,” said Sukhvinder Singh Sukhu.
Other NPS subscribers having a specified corpus at the time of retirement or attaining the age of 60 years need to buy an annuity
