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Why the Old Pension Scheme may be good for you but not for your child

| Dec 14, 2022, 08:00:00 AM | TOI.in
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Himachal Pradesh is set to become the fourth Congress-ruled state after Rajasthan, Chhattisgarh, and Jharkhand that have vowed to return to the old pension system. The Aam Aadmi Party after coming to power in Punjab has also promised that it will bring back the old pension scheme for its govt employees. But there is roadblock for states as finance minister Nirmala Sitharaman had earlier rejected the demand for refunds. And now, the Pension Fund Regulatory and Development Authority (PFRDA) has informed that there is no legal provision for a refund of NPS contributions.

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Strait of Hormuz Crisis Explained | Will Iran Challenge the West More Than Red Sea

The Strait of Hormuz is once again at the center of a global crisis—and this time, the stakes may be even higher than the Red Sea conflict.Recent tensions involving Iran, the United States, and its allies have pushed this critical chokepoint to the brink. The Strait of Hormuz carries a massive share of the world’s oil supply, and any disruption here can instantly impact global markets. In fact, the ongoing crisis has already reduced shipping traffic and driven oil prices sharply higher. What makes this situation even more serious is the comparison to the Red Sea crisis. Western forces previously struggled to fully secure shipping routes from Houthi attacks in the Bab el-Mandeb Strait. But experts warn that Iran poses a far more complex and powerful challenge, with advanced military capabilities and geographic control over Hormuz. Iran has already demonstrated its ability to disrupt maritime traffic through mines, missile threats, and direct attacks on vessels. This has caused a dramatic drop in ship movement and forced global shipping companies to reconsider routes. For the West, securing the Strait of Hormuz is not just a military task—it’s an economic necessity. A prolonged disruption could trigger inflation, energy shortages, and instability across global markets. In simple terms, this isn’t just another regional conflict—it’s a high-risk global flashpoint. And if tensions continue to rise, the Strait of Hormuz could become the biggest test of Western power in modern times.

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