The recent downturn in equity benchmarks has had a significant impact on the annual returns of equity investments in the National Pension System (NPS), which have now decreased to 10.89% as of February 1, based on the latest data from the Pension Fund Regulatory and Development Authority (PFRDA). The decline in benchmarks by over 10% … Read more
The Atal Pension Yojana (APY) was introduced in 2015 to provide a guaranteed pension of up to Rs 5,000 to its subscribers. The scheme offers five fixed pension options: Rs 1,000, Rs 2,000, Rs 3,000, Rs 4,000, and Rs 5,000. Individuals aged between 18 and 40 can enroll in the scheme, ensuring a secure pension … Read more
Top government officials are already getting a policy blueprint ready for different sectors much ahead the upcoming term of the NDA government, led by PM Narendra Modi. If the NDA government gets elected in the upcoming Lok Sabha elections, it would be its third term in a row. The detailed plan for the next term … Read more
The National Pension System, under the Pension Fund Regulatory and Development Authority, saw less number of registrations in FY24 perhaps due to the New Tax Regime. The NPS has progressively advanced as a favoured mechanism for retirement planning across India, owing to its well-organised strategy towards guaranteeing financial stability upon retirement. The pension scheme comprises … Read more
Union Finance Minister Nirmala Sitharaman will read out the Interim Budget 2024 on February 1. Though there is a clear indication that the Centre may not declare major changes in the taxation system like last year, there is a buzz that the Cente may bring in some modifications in the Atal Pension Yojana. Government sources … Read more
India’s journey toward financial inclusion has witnessed various innovations in policy over the last decade. The government’s JAM, which is the bedrock of the digitalisation drive to formalise the economy, has been the biggest game changer for the BFSI industry. JAM stands for ‘Jan Dhan Account – Aadhaar – Mobile’ and has revolutionised financial inclusion … Read more
Pension Fund Regulatory and Development Authority (PFRDA) Chairman Deepak Mohanty has said that the pension schemes, such as the National Pension System (NPS) and Atal Pension Yojana (APY), have added 97 lakh new subscribers in 2023, taking the total subscriber base to 7.03 crore as of December 31, 2023. Of the total subscribers, 5.3 crore … Read more
Income Tax 2024 for senior citizens: When talking about investment options for senior citizens, the first thing that comes to your mind is safe investment schemes with zero risks. There are many government-backed schemes that offer decent returns to senior and super-senior citizens. Some of the prominent ones are Senior Citizens Savings Scheme, National Pension … Read more
Over 5.25 crore subscribers have enrolled in Atal Pension Yojana (APY), the government’s flagship social security programme launched eight years ago, the finance ministry said in a statement. The scheme was launched on May 9, 2015, by Prime Minister Narendra Modi with the objective of delivering old-age income security to all citizens of India, particularly … Read more
Income tax payers will not be allowed to enrol in the government’s social security scheme Atal Pension Yojana (APY) from October 1, according to a notification. The government introduced APY on June 1, 2015, to provide social security to workers mainly in the unorganised sector. Subscribers of the scheme get a minimum guaranteed pension of … Read more