Government Pension

New simplified pension application form released for central govt employees

Union minister Jitendra Singh on Friday launched a new simplified pension application form for retiring central government employees. A total of nine different forms have been merged into one form -- Form 6A -- that was launched by the minister through video-conference. Singh said the launch of the simplified form is yet another step by the government to ensure ease of living for citizens and pensioners. The new form will be available in Bhavishya/e-HRMS (portals) for all central government employees who are going to retire in December 2024 and onwards. Bhavishya is an initiative of Department of Pension & Pensioners' Welfare, which is launched with the goal to ensure payment of all retirement dues and delivery of Pension Payment Order (PPO) to retiring employees on the day of retirement itself. The system provides online tracking of pension sanction and payment process by the individual as well as the administrative authorities for all actions preparatory to grant pension and ...

Unified Pension System: Reversal of pension reform should have been avoided

The new modified pension scheme is better than OPS, but switching to NPS was one of the biggest reforms in recent decades and would have benefited the country in the long run

UPS ensures dignity, financial security for govt employees, says PM Modi

Prime Minister Narendra Modi said Saturday the Unified Pension Scheme ensures dignity and financial security for government employees, aligning with the government's commitment to their well-being and secure future. His remarks came after the Union Cabinet approved an assured 50 per cent of salary as pension for 23 lakh government employees who joined service under the National Pension System (NPS). The National Pension System is applicable for government employees joining the service after April 1, 2004. It was based on the premise of contribution rather than defined benefit applicable for employees prior to the NPS. "We are proud of the hard work of all government employees who contribute significantly to national progress. The Unified Pension Scheme ensures dignity and financial security for government employees, aligning with our commitment to their well-being and a secure future," Modi said in a post on X. Announcing Cabinet decisions, Union Information and Broadcasting Minist

Govt approves Unified Pension Scheme, to benefit 2.3 mn central employees

There will be an option for the employees to opt between NPS and UPS, said Union Minister Ashwini Vaishnaw

Maharashtra's gazetted officers' body to go on strike from Aug 29

The Maharashtra State Gazetted Officers Mahasangh on Thursday said it will go on an indefinite strike from August 29 if its demands, including reintroduction of the Old Pension Scheme, are not met. The move comes ahead of the state assembly polls likely to be held in October or November. The MSGOM said as stated in the state budget, the government must issue a government resolution on the OPS. It said the issue of OPS has been discussed with the state government but it is not being implemented. It has also demanded that the retirement age of state government employees be raised to 60 from 58. The MSOGM, while opposing the system of contractual jobs, demanded that three lakh vacant posts be filled by the state government.

Asia stocks find some footing amid US recession concerns, Nikkei drops

The GPIF is a massive fund with considerable market power and its investment decisions are highly influential

8th Pay Commission: Govt gets proposal for hike in DA, basic pay, pension

With a decade between each pay commissions, the next installment is expected to take effect from January 1, 2026

NDA govt proposes 50% assured pension for central govt staff under NPS

The Modi govt has set up a committee led by Finance Secretary T V Somanathan in 2023 to explore ways to improve pension benefits under the NPS after states began reverting to OPS

Gratuity hike setback, wellness retreat: Top personal finance stories

Our top stories this week tell you about EPFO's decision and the best well retreats in the country

Inclusion of foreign workers in PF is 'unconstitutional': Karnataka HC

The decision comes 15 years after the extension of PF and pension coverage to foreign workers via a legislative amendment

Himachal Pradesh govt issues notification for granting pension to women

Facing criticism for not honouring a poll promise of giving Rs 1,500 per month to women in the age bracket of 18 to 59 years, the Himachal Pradesh government issued a notification on Thursday for granting pension under the Indira Gandhi Pyari Behna Sukh Samman Nidhi Yojana. On March 4, Chief Minister Sukhvinder Singh Sukhu announced that the state government will give Rs 1,500 per month to women and said a sum of Rs 800 crore would be spent on the initiative, benefitting more than five lakh women annually. According to the notification, income-tax payers, women monks permanently staying in monasteries, family members of employees, pensioners of central and state governments and employees of panchayati raj institutions, local bodies and public sector undertakings of the state and central governments will not get the amount. The other categories excluded from the pension are contractual employees, outsourced employees, daily wagers, part-time employees, ex-servicemen and their widows,

After farmers, railway unions threaten protests from May 1: Here's why

Several unions of railway employees have announced that they might bring a halt to all train services from May 1 if their demand of reinstating the Old Pension Scheme is not met

Managing pension corpus, life in retirement: Top personal finance stories

Our top stories this week tell you how to add years to your finances and the best senior living societies

Interim Budget may raise pension floor for unorganised sector workers

PFRDA says current amount may not help attract new Atal Pension subscribers

Govt pension portal for defence personnel SPARSH suffers data breach

The digitised pension processing system, SPARSH, offers online pension-related facilities to over 3 million pensioners from 50 organisations

Female govt employees may now nominate child for pension before husband

The female employee will be eligible to nominate their children to receive family pension before the spouse if there is a pending divorce, domestic violence or dowry case in any court

Around 50,000 to stage protest in Delhi to demand hike in minimum pension

Employees' Pension Scheme 1995 (EPS-95), an association of pensioners, will organise a rally in the national capital to press the government to hike minimum pension under the scheme. Presently, the minimum pension under the EPS-95 is Rs 1,000 per month. The EPS-95 is run by retirement fund body Employees' Provident Fund Organisation (EPFO). "The EPS-95 pensioners are steadfast in their resolve to secure a minimum pension of Rs 7,500, dearness allowance, and additional benefits outlined in the EPFO's letter dated 23.03.2017," Rashtriya Sangharsh Samiti said in a statement. The Rashtriya Sangharsh Samiti will organise a rally at Ramlila Maidan in Delhi on December 7, and about 50,000 pensioners from across the nation will unite to demand an increase in minimum pension, the statement said. Following the mammoth rally, a fast unto death is scheduled at Jantar Mantar starting from December 8, the statement said. President of the samiti Commander Ashok Raut, General Secretary Virendra S

Pension amount of destitute women will be increased in near future: UP CM

He also mentioned that the government has decided to increase the amount from Rs 15,000 to Rs 25,000 from the next financial year under Chief Minister Kanya Sumangala Yojana

Ahead of polls, govt likely to unveil new pension model for staff: Report

A source said that the pension for government staff under the tentative model will be adjusted for inflation only every five or ten years

CM Bhupesh Baghel launches scheme for pension to construction workers

Under this, construction workers who have been registered for ten years and have completed 60 years of age, will be given a pension assistance of Rs 1,500 per month for life