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The Non-Resident Keralites Affairs abbreviated as NORKA is a department of the Government of Kerala formed on 6 December 1996 to redress the grievances of Non-Resident Keralites (NRKs). [1] It is the first of its kind formed in any Indian state. [ 1 ]
The National Pension System (NPS) is a voluntary defined contribution pension system administered and regulated by the Pension Fund Regulatory and Development Authority (PFRDA), created by an Act of the Parliament of India. The NPS started with the decision of the Government of India to stop defined benefit pensions for all its employees who ...
India operates a complex pension system. There are however three major pillars to the Indian pension system: the solidarity social assistance called the National Social Assistance Programme (NSAP) for the elderly poor, the civil servants pension (now open for all) and the mandatory defined contribution pension programs run by the Employees' Provident Fund Organisation of India for private ...
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The Employees' Pension Scheme (EPS) has been controlled by the EPFO since 1995. The main advantage of this scheme is to provide social security to PF members. Under this scheme, employees working in the organised sector can gain pension benefit after reaching age 58. This EPS applies to new and existing members.
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Other states have launched state pension schemes that cover individuals from non-BPL households who are not eligible for social pensions under NSAP. In Odisha , for instance, all elderly above 59 years of age and widows whose annual income from all sources is below ₹ 24,000 (US$290) are eligible for the Madhu Babu Pension Scheme.