New Pension Scheme launched in India for all citizens

September 11th, 2009 AHMEDABAD - Large number of working women in the unorganised sector are expected to benefit from the unique micro pension program run by the Self Employed Women's Association (SEWA) Bank in Ahmedabad. The SEA bank in collaboration with UTI Mutual Funds has executed this micro pension program for women between the ages of 18 to 55, that will help them save even as little as Rupees 50 a month in a pension account.

August 11th, 2009 MUMBAI - The lack of awareness about the New Pension System (NPS) has resulted in only 1,109 subscribers applying for it by July 31. The Pension Fund Regulatory Development Authority (PFRDA) rolled out the NPS for all citizens from May 1.

July 17th, 2009 NEW DELHI - Housing and Poverty Alleviation Minister Kumari Selja today informed the Lok Sabha that the government is planning to launch a new housing scheme for slum dwellers and urban poor since the scheme is aimed at providing subsidy up to five per cent on a loan of Rs one lakh availed by the poor. "Government proposes to launch 'Rajiv Awas Yojana' in the country for slum dwellers and urban poor.

July 6th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee on Monday said that the Government has decided to substantially improve the pension of pre 01.01.2006 defence pensioners below officer rank and bring pre 10.10.1997 pensioners on par with post 10.10.1997 pensioners. Presenting the Budget proposals for the year 2009-10 in Lok Sabha, Mukherjee said that it was based on the recommendation of the Committee headed by the Cabinet Secretary on One Rank One Pension (OROP).

June 3rd, 2009 NEW DELHI - Minister of State for Planning V Narayanasamy today said that the Government is mulling an National Rural Employment Guarantee Act (NREGA)-type poverty alleviation programme for the urban poor. Talking to reporters after taking over the charge of the Ministry, Narayanasamy said that the government is planning such a scheme for urban poor.

May 6th, 2009 NEW DELHI - The Election Commission Wednesday conveyed its 'displeasure' to the government-run Pension Fund Regulatory and Development Authority (PFRDA) for releasing an advertisement in newspapers. The advertisement appeared in newspapers May 1, announcing a new pension system for all eligible citizens in the age group of 18-55.

May 2nd, 2009 NEW DELHI - The Election Commission Saturday asked the Pension Fund Regulatory and Development Authority (PFRDA) to explain why its advertisement of the New Pension Scheme' had been different from the version for which the poll panel had given permission. The poll panel asked the pension authority to explain the deviation and non-compliance with the panel's order for the advertisement which appeared in the Hindu newspaper.

May 2nd, 2009 DHARAMSHALA - Hundreds of Tibetans, including Buddhist monks and nuns, who are facing some hiccups in getting their registration certificate, gathered here to attend a workshop to seek solution to their problems. The exiled Tibetans in India face many troubles and tribulations to get a registration certificate (RC) from the foreigners' registration officer.

May 1st, 2009 CHENNAI - Life insurers are depending on their strong distribution network to stave off the competition challenge posed by the cheaper National Pension Scheme (NPS) that was launched Friday. Even though the fund managers for NPS will charge only 1 paise per Rs.100 (0.0009 percent) as service charge, comparing to 2.5 percent on the fund value charged by life insurers, the latter do not expect drastic reduction in sales, industry officials said.

May 1st, 2009 NEW DELHI - Following are the frequently asked questions on the new pension scheme (NPS) launched Friday for all eligible citizens between 18 and 55 years of age: * Who shall be responsible for protecting my interests as a NPS subscriber? A) The Pension Fund Regulatory and Development Authority, the regulator, will protect your interest. * What is the process for enrolling in NPS? A) Eligibility: 18-55 years of age.

May 1st, 2009 NEW DELHI - A new voluntary pension scheme came into force in India Friday with young people as its main target, and hoped to reach out to the 87 percent of the nation's workforce that remained uncovered by any retirement benefit. The Pension Fund Regulatory and Development Authority has extended the scheme on May Day to all citizens, after introducing it for fresh recruits of the central government since Jan 1, 2004.

March 30th, 2009 NEW DELHI - The Communist Party of India-Marxist (CPI-M) Monday accused the successive governments and the mainstream political parties of neglecting disabled citizens. 'Successive governments and mainstream political parties have utterly failed disabled citizens by ignoring and neglecting their issues,' said CPI-M politburo member Brinda Karat, while releasing the party's pamphlets for women, Dalits, tribals and disabled here.

February 27th, 2009 HYDERABAD - The women of Andhra Pradesh had set an example for empowerment of women all over the world, United Progressive Alliance (UPA) chairperson Sonia Gandhi said here Friday and added that she was 'moved and satisfied' by how they were inspiring others. Inaugurating a pension scheme for members of women's self help groups (SHGs), Gandhi said she was proud of the achievements of the women of the state.

February 15th, 2009 NEW DELHI - The government Monday announced two new pension schemes for widows and physically disabled in the interim budget 2009-10. The Indira Gandhi National Widow Pension Scheme will provide a pension of Rs.200 to widows in the age group of 40-64, while the Indira Gandhi National Disability Pension Scheme aims to provide pension to 'severely disabled persons', acting finance minister Pranab Mukherjee said in his budget speech in parliament.

February 4th, 2009 NEW DELHI - Widows and the disabled living below the poverty line have been brought within the ambit of a social security scheme for senior citizens over the age of 65, it was announced here Thursday. 'The cabinet today (Thursday) approved the expansion of the National Social Assistance Programme (NSAP) to include other vulnerable groups of the society,' Home Minister P.