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The National Pension System (NPS) is a defined-contribution pension system in India regulated by the Pension Fund Regulatory and Development Authority (PFRDA) which is under the jurisdiction of the Ministry of Finance of the Government of India. [1] National Pension System Trust (NPS Trust) was established by PFRDA as per the provisions of the ...
The Unified Pension Scheme (UPS), introduced by the Government of India in 2024 as an optional pension scheme along with the National Pension System (NPS) for the government employees, it aims to provide a comprehensive and centralised pension system for Central government employees. The scheme is designed to consolidate various existing ...
The Pension Parishad – an initiative to ensure universal pension to all workers in India – has been demanding that the Government of India establish a "non-contributory and universal old age pension system with a minimum amount of monthly pension not less than 50% of the minimum wage or ₹ 2,000 (US$23), whichever is higher." [51]
The Board administers a contributory provident fund, pension scheme and an insurance scheme for the workforce engaged in the organised sector in India. [9] The board is chaired by the Union Labour Minister of India. Presently, the following three schemes are in operation under the Act: Employees' Provident Fund Scheme, 1952
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 ...
Since pension is both a reward for continuous service till the formal age of retirement as well as a form social security in old age, India favored a restructured pension ensuring a balance between retirement benefit of the government employees and the financial burden on the economy by moving from DB scheme to DC scheme.
This department came into existence when Haryana was established as a new state within India after being separated from Punjab. Abhimanyu Sindhu is the cabinet minister responsible for this department from October 2014.
Haryana (Hindi: Hariyāṇā pronounced [ɦəɾɪˈjɑːɳɑː]) is a state located in the northern part of India. It was carved out after the linguistic reorganisation of Punjab on 1 November 1966. It is ranked 21st in terms of area, with less than 1.4% (44,212 km 2 or 17,070 sq mi) of India's land area.