Types of Pension Plans in India – Explained in Detail

With rising inflation, you must invest money in pension plans to secure your post-retirement life. The earlier you start investing, the smoother your financial journey will be. However, when it comes to choosing the best pension plan for investment, you will find various types available in India. For instance, if you decide to invest in NPS, you must first understand what is Tier 1 and Tier 2 in NPS before choosing the right pension plan.

Bandhan Bank authorised by RBI for disbursing civil pension

Private sector lender Bandhan Bank on Tuesday announced that it has been appointed by Reserve Bank of India (RBI) as an authorised pension disbursement bank on behalf of Central Pension Accounting Office (CPAO), Ministry of Finance, for the civil pensioners.

EPFO extends deadline for higher pension till July 11

New Delhi: Retirement fund body  EPFO has extended the deadline to file applications to apply for higher pension till July 11.

Electronic Pension Payment Order integrated with Digi Locker

New Delhi/IBNS: Ministry of Defence's Department of Ex-servicemen Welfare has integrated the Electronic Pension Payment Order (EPPO) generated by Principal Controller of Defence Accounts (PCDA) Pension, Allahabad with Digi Locker, in order to enhance the ‘Ease of Living’ of Defence Pensioners.

Union Bank of India signs MOU with NDMC for pension disbursement

New Delhi/IBNS: Union Bank of India has entered into an agreement with North Delhi Municipal Corporation (NDMC) for the purpose of disbursement of pension of the civic body's employees.

2019 elections sop: Govt announces pension for PSIC employees

New Delhi, Mar 2 (UNI) With an eye on 2019 General elections, the Government on Saturday announced another sop for employees of Public Sector Insurance Companies, giving them one more opportunity to opt for pension after retirement.

One Lakh villages to go digital over next five years: Govt

New Delhi, Feb 1 (IBNS): India having emerged as the world leader in the consumption of mobile data, the Government on Friday said it is now aiming to widen its impact by reaching out to the interior and rural areas.

Anti-black money measures brought undisclosed income of about Rs 1.3 Lakh Crore to tax: FM Piyush Goyal

New Delhi, Feb 1 (IBNS): The anti-black money measures taken by the Government during the last four and half years in the form of Black Money Law, the Fugitive Criminal Offenders Act, and Demonetisation, have brought undisclosed income of about Rs 1,30,000 crore to tax, said Finance Minister Piyush Goyal.

Rationalization of customs duty and procedures to give boost to “Make in India” initiative: Piyush Goyal

New Delhi, Feb 1 (IBNS): The Indian government on Friday said it has undertaken rationalization of customs duties and procedures to promote the “Make in India” initiative.

GST, the biggest taxation reform, led to increase in tax base, higher collections and ease of trade: Piyush Goyal

New Delhi, Feb 1 (IBNS): The Goods and Services Tax (GST) reforms has resulted in increased tax base, higher collections and ease of trade, Union Finance Minister Piyush Goyal said on Friday. 

India now 6th largest economy in the world with high growth: FM Piyush Goyal

New Delhi, Feb 1 (IBNS): Under the leadership of the Prime Minister Narendra Modi, the country has witnessed its best phase of macro-economic stability, becoming the sixth largest economy in the world from being the 11th in the World in 2013-14, said Union Finance Minister Piyush Goyal on Friday.

Union Budget: Highest ever growth of 42% recorded in minimum wages of labours during last 5 years

New Delhi, Feb 1 (IBNS): During the last 5 years, the minimum wages of labours of all classes have been increased by 42% which is the highest increase so far, revealed Union Finance Minister Piyush Goyal while presenting the budget on Friday.

Union Budget: Government proposes to launch pension scheme for unorganised sector workers

New Delhi, Feb 1 (IBNS): The Government on Friday proposed to launch a mega pension yojana namely 'Pradhan Mantri Shram-Yogi Maandhan'for the unorganised sector workers with monthly income upto Rs. 15,000.

Why Provident Funds may not be sufficient for Retirement?

Gene Perret, the famous comedy writer, once written about retirement, “it’s nice to get out of the rat race, but you have to get along with less cheese.” Almost everyone looks forward to that time when they can live a worry-free life, away from the hustle and bustle of office life. On one hand, retirement gives ample time to enjoy the rest of the life; it also compels you to think: How to finance your needs?