Pension

Update 15th November -

Committee on Insurance and Pension
Insurance Regulatory and Development Authority (Irda) will not further tighten norms for insurance companies in which foreign firms hold stakes, as the global financial turmoil is unlikely to impact them, an official at the regulatory agency said.
Read various articles

Old Age : Time Bomb Ahead
India’s old-age problem is not well-understood. Perhaps because India — with an average age of 26 years — is amongst the world’s youngest countries. The presence of 15 youngsters for every old Indian, a low dependency ratio, too is a smoked mirror. However, India will not remain young for very long — the above-60-years population would double to 160 million in the next two decades.Read More

Regulator Makes Case for ‘Defined Contribution’ Pension Scheme
“A separate committee is working on inviting applications from private parties. Most of the working class in our country is in the unorganized sector. We need to reach out to them in order to make ‘defined contribution’ pension scheme a success story,” said Chief Executive Officer N R Rayalu at the Pension Fund Convention 2008 held here on Friday. Read here

Update 1st October -

Don't Privatize Social Security
Since its inception, Social Security has elevated millions of elderly Americans out of poverty, and provided them with the basic financial guarantees after a lifetime of hard work. Twenty percent of older Americans live solely off their Social Security benefits, and 60 percent of recipients rely on it for more than half of their incomes. It is the cornerstone of this country's social compact.Read More

 

Update 1st September

Haryana Introduces New Pension Scheme
The Haryana government on Monday decided to introduce a new pension scheme for its all government servants who have joined service on or after January 1, 2006. A decision to this effect was taken in a meeting of the state Cabinet. Read More

Social cash transfers for Asia
Ensuring social protection/social pensions in old age.In the context of rapid ageing Poverty reduction in old age is an area where the past and future converge. Despite unprecedented levels of economic growth and poverty reduction, there are still over 700 million people in Asia who cannot fulfill their basic needs. Many of them are old. It is in this context that social pensions are being discussed in the region. Know More

Update 1st June -

India:  The Challenge of Old Age Income Security
A report by World Bank, Read here

National old age pension, Social Assistance Programme (NSAP)
NSAP stands for National Social Assistance Programme. This came into effect from 15th August, 1995. NSAP at present comprises of Indira Gandhi National Old Age Pension Scheme(IGNOAPS), National Family Benefit Scheme(NFBS) and Annapurna Scheme.Read in Detail

Pension Reforms in India
Read 4th Global Conference of Actuaries

SOCIAL SECURITY NET
The Government of Tamil Nadu is implementing the following Pension schemes, through
Revenue Department, to provide social security to the old aged / destitute persons in the State
who neither have any means of subsistence nor any relative to support them.Read More

PM launches Indira Gandhi National Old Age Pension Scheme     
 “I am extremely happy to be here today for launching the Indira Gandhi National Old Age Pension Scheme. This Indira Gandhi Old Age Pension scheme is a scheme which fulfils an important commitment of our government towards providing a social safety net for the poor and vulnerable. I am very pleased that a number of beneficiaries are present here today and sincerely hope that this scheme in an expanded version which provides relief to a large number of citizen.Read more about PM Speech

PERFORMANCE REVIEW COMMITTEE
All States were requested on 17th October 2007 to identify additional number of beneficiaries to be covered under Indira Gandhi National Old Age Pension Scheme (IGNOAPS) which was formally launched on 19th November 2007 at the hands of Hon’ble Prime Minister. Old Age Pension were earlier provided under National Old Age Pension Scheme to persons who were 65 years or higher and ‘destitute’. As per the modified eligibility criteria old age pension under IGNOAPS is now to be granted to person who is 65 years or higher and belonging to a household below the poverty line according to the criteria prescribed by the Government of India.Read in Detail

Pension Reform in India,Read in Detail

“MICRO-PENSION” Initiative for Self Help Groups
The Micro-Pension initiative facilitated by UTI Mutual Fund and REPCO Bank aims to provide the much needed social security cover for the low income group during their old age. Under the initiative, members of the Self Help Groups associated with REPCO Foundation for micro credit, will contribute minimum amount of Rs.100 every month towards UTI-Retirement Benefit Pension Fund up to the age of 55 years so as to enable them to receive pension in the form of periodical income/cashflow after they reach the age of 58 years. Read more

Pension Plans from LIC India
Pension Plans are Individual Plans that gaze into your future and foresee financial stability during your old age. These policies are most suited for senior citizens and those planning a secure future, so that you never give up on the best things in life. Read More

World Bank Pension Presentation,click here

Schemes for payment of Pensions to Central Government of India Read in Detail RREWA Pension Booklet

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