Pension: GK, General Studies and Current Affairs

Jeevan Pramaan

In its determination to bring digitalisation to every Indian household, Digital Life Certificate or Jeevan Pramaan is another enabling mechanism launched by Government of India to benefit over a crore pensioners in the country. This is another major step towards self-certification. Under the present system for payment of pension, every pensioner has to submit a life certificate ..

Orissa: First Indian state to begin e-payment facility for government employees

Orissa is the first Indian state to commence e-payment facility for government employees from August 1, 2012. Govt employees will get their salaries and pensions through the online Portal of the RBI. Salaries and pensions will be directly transferred to their bank account. The initiative of e-payment facilities taken by Reserve Bank of India.

PFRDA eases registration norms for Fund Managers of NPS

With an objective to give impetus to the National Pension System (NPS), the Pension Fund Regulatory and Development Authority (PFRDA) eased norms for registration of pension fund managers. This move will induce greater competition by removing cap on the number of Pension Fund Managers (PFMs). It has notified a revised set of guidelines for registration ..

India promoting PILF scheme for workers abroad

A new Pension and Life Insurance Fund (PILF) scheme is being promoted by GoI in a bid to provide financial security to poor Indians working abroad. Indian embassies have been asked to assist those wanting to subscribe to PILF. NRI-organizations have been recommended to encourage the scheme, which was declared in January, 2012. PILF: To ..

Implications of 26% FDI in Pension Sector

Recently, the Cabinet has approved changes in the Pension Fund Regulatory and Development Authority (PFRDA) Bill, which will also pave the way for 26% foreign investment in pension fund management companies. What is PFRDA Bill? PFRDA was set up as a regulatory body for the pension sector, but the current PFRDA is the Interim PFRDA ..