Central government pensioners to get three months’ pension in advance. Senior citizens, differently-abled, widows will get three-month advance pension in the first week of April, officials said on Friday, according to PTI. The announcement comes in the wake of a slew of relief measures proposed by the government to combat the outbreak of novel coroanvirus […]Continue Reading..
Anyone 60 or older may invest in the Pradhan Mantri Vaya Vandana Yojana (PMVVY) scheme. There is no age of entry. Anyone aged 60 or older can invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY) scheme. You can purchase PMVVY scheme from Life Insurance Corporation of India. Pradhan Mantri Vaya Vandana Yojana (PMVVY), a senior […]Continue Reading..
If you have exhausted the maximum limit of the commonly used deductions such as those under sections 80C, section 80D etc., then the National Pension System (NPS) can help you save tax without any monetary limit (subject to certain conditions). Here’s how. Individuals investing in NPS can claim tax benefit under three sections of the Income-tax Act, namely: (i) Section […]Continue Reading..
National Pension System (NPS), a government-sponsored investment cum pension scheme, may soon offer options in annuity payouts when your investment in NPS matures on retirement. Pension Fund Regulatory and Development Authority (PFRDA) that regulates the NPS is planning to come up with variable annuities and systematic withdrawal option in payouts instead of existing option of […]Continue Reading..
In a major development, the Modi government through Department of Pension and Pensioners’ Welfare has taken out an order through which all Central Government employees whose selection for appointment was finalized before 01.01.2004 but who joined service on or after 01.01.2004, can now opt to be covered under the Central Civil Services (Pension) Rules, 1972 […]Continue Reading..
The Centre is proposing a major revamp of the National Social Assistance Programme (NSAP) that could raise pension payouts for senior citizens, widows and those with disabilities. In the senior citizen category, pensions could go up to Rs 1,000 per month from Rs 500 now for those above 80 years of age and to Rs 500 per month […]Continue Reading..
If the suggestions of the pension fund regulator PFRDA are accepted by the government in next year’s Budget, NPS or National Pension Scheme could get more income tax benefits. The pension fund regulator has urged the government to increase the income tax deduction limit to ₹1 lakh for investment in Tier I NPS account under Section 80CCD (1B) […]Continue Reading..
From this month onwards, funds under the Pradhan Mantri Kisan Samman Nidhi Yojana (PM-Kisan) will be transferred to only Aadhaar-authenticated bank accounts of eligible farmers, Agriculture Minister Narendra Singh Tomar said in Lok Sabha on Tuesday. Under PM-Kisan scheme, the government is providing Rs 6,000 per annum in three equal installments to 14 crore farmers. The amount is directly […]Continue Reading..
India’s largest bank, the State Bank of India (SBI), has asked pension account holders to submit their life certificate or Jeevan Praman Patra at its bank branches or online by the end of this month. “Complete your Life Certificate submission before 30th November, 2019 to ensure that your pension payments would continue. The certificate can […]Continue Reading..
The government on Wednesday extended Aadhaar seeding date till November 30 to avail Rs 6,000 benefit under the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme to help farmers buy farm inputs ahead of rabi sowing season. The decision in this regard was taken in the meeting of the Cabinet Committee on Economic Affairs (CCEA), headed […]Continue Reading..