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Pension

Dec 08, 2019, 12.55 PM IST

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PENSION

Army ex-chief against tax on disability pension

Former army chief General VP Malik said he disagrees with the government’s move to impose income tax on disability pension.

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  • Many big mutual fund houses like HDFC MF, Nippon India MF, and Tata MF, have dedicated retirement schemes. However, many mutual fund advisors believe that investors don't need them.

    "After the implementation of 7th Pay Commission recommendations, there has been an over expenditure of Rs 22,000 crore for salaries and pension of railway employees. This has contributed to the overall operating loss," he said.

    Recently, SEBI has come out with guidelines for the introduction of exit load on the redemption of units in liquid funds within seven days of investment, which has made the investment in liquid funds unattractive for short duration investment.

    With REIT opening up giving these foreign funds an opportunity to exit, the existing private equity funds such as KKR, Blackstone, JM Financial and Xander are also looking to increase their exposure in West Bengal's retail and logistics space, avers realtor Pradeep Sureka, vice president, Indian Chamber of Commerce.

    As per the circular, when new security is purchased for which market price is not available on the same day, then such a security will be valued on the basis of scrip level price/ scrip level yield at which the securities are purchased.

    The economy is passing through a low interest rate regime with the RBI cutting rates for five consecutive times to boost growth. Inflation has also remained benign and low for a sustained period, hurting the real monthly returns of pensioners.

    A life certificate is a document that needs to be submitted by annuitants to continue receiving their annuity, without interruption. The life certificate needs to be submitted at specified time intervals after getting it verified from a bank.

    If you are a government pensioner, November is the month when you will be planning a visit to your bank or post office to physically submit ...

    In August, the global stock of assets trading at negative yields hit $17 trillion.

    If you are a pensioner, November is the month you will be planning a visit to your bank or post office to submit your Jeevan Pramaan Patra or life certificate. The government has now provided an online platform to submit the certificate online.

    With this, the pension fund is no longer available for subscription under NPS. Earlier this year, Reliance Capital had surrendered its NPS licence. It was one of the 8 companies registered under NPS to manage funds from the private sector.

    It is mandatory for government pensioners to submit the life certificate (Jeevan Pramaan Patra) at the disbursing authority, usually at the bank. However, pensioners now also have an option to submit the life certificate online.

    NPS offers two types of accounts for an individual - Tier-I and Tier -II. It is mandatory to open a Tier-1 account to invest in NPS. However, there are certain conditions that must be met to make partial withdrawals from a Tier-1 account.

    The cases were approved under centrally-sponsored pension schemes -- Integrated Social Security Scheme (ISSS) and National Social Assistance Programme (NSAP), he said. The decision was taken in a high level meeting chaired by the LG to review the issue of pending pension cases in the Union Territory, an official spokesman said.

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