Pension Financial News

diplomatic row between India and Canada is unlikely to have any immediate effect on investment relations between the two countries, a top government official said on Thursday. The official said that the Canadian pension funds are getting higher returns in India, and they have investments in the Indian infrastructure sector. «They are here because they are making higher returns here… So I don't see any reason for them to back out because of the current situation, which hopefully we will sort out,» the official said. Those funds can not get such returns anywhere else, the official said, adding «I don't see any impact on Canadian investments into India». «Don't see any immediate impact on Indian investments into Canada also,» the official noted. The comments come in the backdrop of an intense diplomatic row that erupted following Canadian Prime Minister Justin Trudeau's allegations of a «potential» involvement of Indian agents in the killing of a Khalistani separatist in June.

EDMONTON — The Alberta government is set to release its long-promised report on whether the province should quit the Canada Pension Plan and pursue its own provincial program.

Kotak Mahindra Bank Ltd, Zomato, Paytm and other companies with significant investments from Canada Pension Plan Investment Board (CPPIB) declined as the fresh tensions between India-Canada relationship escalated. Canada Pension Plan Investment Board is the largest pension manager in Canada and has significant holdings in some of the Indian companies. CPPIB disclosed an investment of $21 billion ( ₹1.74 lakh crore) in India about a year ago.

‘One Rank One Pension’ issue. Speaking at a meeting of the Air Force Association, ACM Bhadauria (retd) said, “I got more concerned in the last one-odd week when a different twist to this is being given in terms of creating a wedge between officers and men.

Hardeep Singh Nijjar, a pro-Khalistan leader in Canada, followed by the expulsion of diplomats, experts think it will have very little impact on Canadian investment in India and the overall market sentiment. Concerns have been growing that the fresh tensions in the India-Canada relationship will see some outflow as Canada Pension Plan Investment Board, the largest pension manager in Canada, has significant holdings in some of the Indian companies.

LIC Gratuity, Family Pension Rules Change 2023: The Ministry of Finance has approved a series of welfare measures for the benefit of Life Insurance Corporation of India (LIC) agents and employees. These measures are related to the amendments to LIC (Agents) Regulations, 2017, Enhancement of Gratuity Limit, and Uniform Rate of Family Pension among others, the Finance Ministry said in a statement.

states, which revert to the Old Pension Scheme (OPS) could face «unsustainable» fiscal stress, says an article in the Reserve Bank of India's September bulletin. «Results indicate that the cumulative fiscal burden in case of OPS could be as high as 4.5 times that of NPS (National Pension Scheme), with the additional burden reaching 0.9% of GDP annually by 2060,» wrote Rachit Solanki, Somnath Sharma, RK Sinha, Samir Ranjan Behera and Atri Mukherjee in the article in the RBI's September bulletin, which was released on Monday. The authors are from the Department of Economic and Policy Research and the Monetary Policy Department of the RBI.

In 2011, three years after opening an office in Hong Kong, the Canada Pension Plan fund invested in a fast-growing e-commerce company in the city of Hangzhou, China, that would have been unfamiliar to most Canadian pensioners at the time.

Prime Minister Narendra Modi on Monday traced the nearly eight-decade-long journey of the old Parliament building that has also been the country’s journey following its independence from British rule.

Income Tax Appellate Tribunal (ITAT) and Goods and Services Tax (GST) tribunal will not be eligible for gratuity, pension and provident fund benefits, following changes in the rules introduced by the Centre. «Pension, Provident Fund and gratuity shall not be admissible for the service rendered in the Tribunal,» says the amended rule 13. Besides, it has made tribunal membership a full-time job. Earlier, serving high court or Supreme Court judges were sometimes appointed as chairperson or a member while staying in their existing service. So they were entitled to pension and other benefits. Now when a serving judge of any court is appointed as chairperson or a member of the tribunal, they will have to either resign or obtain voluntary retirement from their parent service before joining the tribunal.

New York City’s pension funds and the state of Oregon are suing Fox Corporation over Fox News' 2020 election coverage

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Pension Scheme (OPS) for its employees, Chief Minister Prem Singh Tamang said. He said the government has received the report of the committee that it set up last year to study the viability of the OPS in Sikkim. «The state government has started work for the restoration of the OPS on the basis of the report,» he said, addressing a function in Namchi on Monday. If implemented, over 30,000 government employees will be benefitted.

SYDNEY (Reuters) — Australia's largest pension fund, AustralianSuper, said on Tuesday it would buy a minority stake in a major European data centre business for A$2.5 billion ($1.6 billion), its first significant investment into data centre platforms.

NPS also offers a lot of flexibility. Investors can choose their asset mix by dividing the corpus among four different types of funds. They can also change this asset mix up to four times a year. The choice of pension fund managers has also broadened.

LIC staff pensioners can get an Aadhaar-based digital existence life certificate, according to the LIC website. These pensioners can conveniently submit their life certificate online by downloading the LIC Jeevan Saakshya mobile app instead of going to a LIC branch to do so. The deadline for submitting a life certificate is generally November 30 each year. According to the LIC website, here is how one can get a digital life certificate using the LIC Jeevan Saakshya App: Step 1: Download the LIC Jeevan Saakshya App https://play.google.com/store/apps/details?id=com.lic.dl&hl=en_IN&gl=US Step 2: Provide Aadhaar card and policy details online Step 3: Capture Selfie Step 4: Enter the OTP you receive from Aadhaar and verify. You can now view the image of your digital life certificate. Additionally, there is a «Facilitator» option for submission, which enables users other than annuitants and staff pensioners to help them submit the certificate.Also read: Digital Life Certificate: 7 ways pensioners can submit annual life certificate (Jeevan Pramaan Patra) onlineSteps when applying through facilitator Step 1: Provide information of the facilitator Step 2: Provide Aadhaar card and policy details of annuitant/ pensioner Step 3: Verify OTP sent to the registered mobile number Step 4: Capture Annuitant’s/Pensioner's photograph LIC offers these three pension plans most suited for senior citizens and those planning a secure future, so that you never give up on the best things in life.

By Roushni Nair

Australian Retirement Trust, the country’s second largest pension fund, is scouring the world for a new chief executive officer after Bernard Reilly announced he was stepping down.

Rumours about Caledonia selling 7IM have been floating since early 2022.

EPS higher pension was July 11, 2023. The EPFO had provided an online link on the Member Sewa portal for eligible employees to apply for higher EPS pension. A member who meets the eligibility criteria can visit the portal to apply, irrespective of whether the EPF account is held with the private trust or EPFO.Who is an eligible employee to apply for higher EPS pension? The Supreme court in its judgement has specified which category of employees can apply for the higher EPS pension. As per the judgement, an employee is eligible for higher EPS pension if: Member of EPS and/or EPF on September 1, 2014 and continued to remain the same after. Retired prior to September 1, 2014 and was making higher contribution to their EPF account. However, their higher EPS pension request was rejected by the EPFO.