statutory pension insurance

A large section of today’s workforce earns more than ₹15,000 but remains outside compulsory social security coverage. Raising the EPF wage ceiling seeks to bridge this gap by aligning statutory coverage with present day wage realities.

Germany faces a pension crisis as baby boomers retire, straining the intergenerational contract. Labor Minister Bärbel Bas proposes including civil servants and the self-employed in the state pension scheme to alleviate the financial burden. This proposal has sparked debate within the coalition government, highlighting the challenges of ensuring pension stability amid a shrinking workforce and aging population.

Financial mis-selling happens when bankers lure customers to meet their targets. Eg: selling insurance while hawking investment options. To tackle it, fix sellers’ incentive structure & mandate stiff penalties

The rate will be formally notified by the Government of India, after which the Employees' Provident Fund Organisation will credit the interest to subscribers’ accounts.

While the draft Bill on Pension Fund Regulatory and Development Authority (PFRDA) is before Parliament, the contribution of pension schemes offered by insurance players has dropped to around 17%, Insurance Regulatory Authority of India (IRDA) chairman Hari Narayan said here on Saturday.

In a move that would benefit about 32 lakh pensioners, the government has notified the amendment on Employees Pension Scheme run by Employees' Provident Fund Organisation (EPFO) to provide a minimum monthly pension of Rs 1,000 starting from October.

Market regulators in India and Singapore have cleared the sale of Reliance Capital’s 26% stake in Reliance Mutual Fund to Nippon Life Insurance, Japan’s biggest life insurer, for Rs 1,450 crore.

Railway minister Mukul Roy, who represents TMC in the UPA government, did not speak on the issue during the Cabinet meeting, sources said.

The finance ministry will move a detailed proposal for the consideration of the cabinet.

For India Inc's top employers, recruiting senior managers has literally become a taxing experience thanks to a change in norms for the insurance industry.

After opening up the multi-brand retail sector to foreign direct investment, the Cabinet today approved FDI in insurance and pension sectors.

After a delay of nearly a decade, Parliament on Friday passed a key economic reforms legislation, the Pension Bill that aims to create a regulator for the sector and allows at least 26 per cent FDI.

Banks and state-owned insurance companies in Dakshina Kannada are gearing up for the nationwide launch of Prime Minister Narendra Modi’s pet social security schemes — Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Atal Pension Bima Yojana (APY) on Saturday. Minister for law and justice D V Sadananda Gowda will inaugurate the three schemes — two general insurance schemes and a pension scheme — on this occasion.

Industry behemoths like Wipro, Saint-Gobain India, Bharti Airtel, Alstom, Biocon, Tata Consultancy Services (TCS) and Future Retail are some of the companies who have signed a petition along with recruitment consultant TeamLease Services, urging the government to tweak its 'salary confiscation' regime and allow employees to choose how their salary is paid and contributions invested.

Pension Fund Regulatory & Development Authority has been operating through a series of agreements with fund managers and agencies to manage data and collect subscription.

The finance ministry has revived plans to increase the foreign investment ceiling for insurance sector from 26% to 49%, and align the cap for pensions business with this.

Weeks after the passage of the pension bill, the sector regulatory body chief Yogesh Agarwal on Wednesday put in his papers which he said was under instructions from the government, making it a rare case of a regulator being asked to step down.

Prime Minister Narendra Modi will launch the flagship social security schemes, including Rs 2 lakh accident cover at a premium of just Re 1 per month, in Kolkata on May 9.