EPFO panel approves raising insurance cover to Rs 5.5 lakh

Last Updated: Wednesday, September 9, 2015, 19:22

Retirement fund body EPFO's panel on its pension and insurance schemes has approved a proposal to increase the maximum amount assured under the EDLI scheme to Rs 5.5 lakh from Rs 3.6 lakh.

Cannot consider one-year pension revision under OROP: Parrikar

Last Updated: Wednesday, September 9, 2015, 00:25

Defence Minister Manohar Parrikar Tuesday said the demand of armed forces veterans for annual revision of pension under "One Rank One Pension" (OROP) scheme could not be considered as definition of OROP does not specify any timeframe for upgradation of pension.

OROP no threat to fiscal arithmetic: Jayant Sinha

Last Updated: Monday, September 7, 2015, 18:06

Government Monday ruled out the possibility of additional financial burden of Rs 8,000-10,000 crore on account of OROP scheme hurting the fiscal consolidation programme, saying there was "space" to absorb it.

OROP to cost Rs 16,000 crore in FY16; to impact fiscal math: HSBC

Last Updated: Monday, September 7, 2015, 17:11

One Rank One Pension (OROP) will have a significant impact on the country's fiscal bill and the overall cost will be around Rs 16,000 crore in the current financial year, says an HSBC report.

Centre releases Rs 2,000 cr for Employees' Pension Scheme

Last Updated: Monday, August 31, 2015, 19:11

Centre has released Rs 2,000 crore to Employees' Pension Scheme as its contribution for the year 2015-16, Minister of State for Labour and Employment Bandaru Dattatreya said Monday.

Rs 22K crore mobilised under Jan Dhan Yojana: Govt

Last Updated: Friday, August 28, 2015, 19:27

Government on Friday said Rs 22,000 crore have been deposited in over 17.5 crore bank accounts within a year of the launch of the Pradhan Mantri Jan Dhan Yojana, the largest financial inclusion scheme in the world.

China to invest $547 bn pension fund in stock markets

Last Updated: Sunday, August 23, 2015, 19:39

In a surprise move, China Sunday permitted its USD 547 billion pension fund, the largest in the world, to be invested in stock market barely weeks after its biggest crash which wiped out about USD four trillion capital between June and July.

Pension biz of life insurers plunges 90% to Rs 2k cr in FY15

Last Updated: Sunday, August 23, 2015, 15:02

The pension business of life insurance players is down to a meagre Rs 2,000 crore in 2014-15, from Rs 20,000 crore in 2009-10.

IRDAI asks life insurers to avoid delay in pension payment

Last Updated: Friday, August 7, 2015, 22:35

Insurance watchdog IRDAI has issued directive to life insurers to streamline process to ensure timely payment of pension to policyholders who have bought such products from them.