June 2020
22Jun

India. Govt may restrict foreign investment in pension funds

Amid LAC tension, the Finance Ministry has proposed restrictions on pension fund investments from any bordering country. Foreign investment in pension funds regulated by the Pension Fund Regulatory and Development Authority is capped at 49 per cent under the automatic route. According to a draft notification circulated for comments on Friday, “A government approval would be required for the investing entity or individual from any of the bordering countries, including China.” The restriction will be applicable from the date...

June 22, 2020
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May 2020
21May

India. Lack of social security for women in informal economy needs to be addressed

It was in the middle of the second lockdown. Ayeshaben, a home-based garment worker suddenly experienced chest pain. Her son, Asif, a tailor, requested one of his customers to take his mother in his rickshaw to the hospital. Thankfully, Ayeshaben has been taking insurance cover with SEWA’s insurance cooperative, VimoSEWA, for the last 15 years. Her claim of Rs 5,000 was processed online after Asif sent all her documents via WhatsApp. There are millions of Ayeshabens in this country....

May 21, 2020
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15May

India. World Bank to provide $1 billion loan for social protection

After healthcare, the World Bank on Friday said it had cleared a $1 billion assistance for social protection and is in talks with the government for funding initiatives to assist micro, small and medium enterprises (MSMEs). World Bank country director Junaid Ahmad did not elaborate on the size of the loans for MSMEs, saying they were being negotiated. Read also Covid-19 impact: Global pension funds pause India investment He, however, complimented the government’s approach, focusing on healthcare, social protection and...

May 15, 2020
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12May

Covid-19 impact: Global pension funds pause India investment

Top global pension funds have suspended India investment plans until they come to grips with the damage Covid-19 does to global and local economies, and their portfolios stabilise amid extreme market volatility and uncertainty. Ontario Teachers’ Pension Plan (OTPP), Canada Pension Plan Investment Board (CPPIB), Australian Super and Caisse de Dépôt et Placement du Québec (CDPQ), among others, had slated billions of dollars in India directly, via private equity (PE) or other funds, but have either put plans on...

May 12, 2020
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April 2020

20Apr

India. No deduction in pension amid COVID-19 outbreak: Union Government

The Union government in its latest order has said that there will be no deductions in pension. The government clarified that it is not planning anything of this sort. As per the latest reports, India has witnessed more than 15000 cases and 507 deaths due to the deadly coronavirus. Meanwhile, 2231 COVID-19 patients have recovered. The entire nation is under lockdown till May 3 to combat the deadly coronavirus. Read More @News.abplive

April 20, 2020
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15Apr

India: Pension schemes draw more members

Total assets under management of National Pension Scheme (NPS) and the government-backed Atal Pension Yojana (APY) amounted to INR4,170bn ($55bn) with a subscriber base of over 30m at 31 March 2020, according to data released by Pension Fund Regulatory and Development Authority (PFRDA). Nearly 2.12m central government employees and around 4.75m state government employees were subscribers of the NPS at 31 March, reported Press Trust of India citing the official data. In addition, 2.23m citizens from the private sector...

April 15, 2020
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01Apr

India. Migrant Workers Need Social Protection To Overcome COVID-19 Lockdown Trauma: Health Ministry

The Health Ministry today called for providing a social protection to migrant workers, saying they are prone to social, psychological and emotional trauma in lockdown situations. Immediate concerns faced by such migrant workers relate to food, shelter, healthcare, fear of getting infected or spreading the infection, loss of wages, concerns about the family, anxiety and fear. "Sometimes, they also face harassment and negative reactions of the local community. All this calls for strong social protection," the ministry said in...

April 1, 2020
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February 2020

26Feb

Local government stops pension of 6 officials for corruption in India

Odisha government on Monday stopped pension of six retired officers and asked two other officials to take voluntary retirement from service after they were convicted in different corruption cases. The government in its order said that the service of two officials were no more required for their alleged involvement in corrupt practices, an official statement said. Chief Minister Naveen Patnaik has issued such a direction as part of the state government's 'Zero Tolerance' policy towards corruption, an official statement...

February 26, 2020
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20Feb

India. ETMoney now lets users invest in NPS through its app

ETMoney has introduced an option to invest in National Pension Scheme (NPS) to help customers save on taxes and increase flow to the PFRDA controlled pension corpus.Through the feature, the fintech platform expects to double the NPS users across the country, a company spokesperson said. “India has one of the youngest working populations in the world. In a decade or two from now, we will possibly have a rising number of retirees from private sector companies,” said Santosh Navlani,...

February 20, 2020
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17Feb

‘India is ageing much faster than previously thought’

“India is ageing much faster than previously thought and is expected to have nearly 20% population of the world’s 60 years and above by 2050 with the largest number of older adults in the world,” said Prasun Chatterjee, Department of Geriatrics, All India Institute of Medical Sciences (AIIMS). Speaking about his new book — Health and Well Being in Late Life — Dr. Chatterjee said: “Through my book, I have tried to help people look at this tremendous growth...

February 17, 2020
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