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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 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 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.
Voluntary occupational pension insurance: Private pension schemes Hong Kong: Basic pension: Provident fund system: N/A: N/A Hungary: Social assistance: Private pension fund: Voluntary pension fund: N/A India: Social assistance: Mandatory Provident Fund: Voluntary pension insurance: Individual private pension plans Ireland: Basic pension
The Union Government's pension liabilities in Budget Estimate 2022-2023 on account of Old Pension Scheme for existing retirees is ₹2.07 lakh crore. [2] The cost of pension for all State Government's combined Budget Estimate 2022-2023 is ₹4,63,436.9 Crores.
The Madhu Babu Pension Yojana (MBPY) is a beneficial scheme initiated under the Department of Social Security and Empowerment of Persons with Disabilities for the disabled, old age persons in the state of Odisha, India. The Madhu Babu Pension Yojana was launched by Chief Minister of Odisha, w.e.f. 01.01.2008 by merging the two pension schemes i ...
Half of the deposited amount can be availed as money loan. If a person contributes continuously from the age of 18 to 42 years, they will get ৳64,776 per month as pension from the age of 60 and if someone contributes from the age of 30 to 30 years, he will be given ৳18,908 per month as pension from the age of 60. [3]
The Bihar Public Service Commission initially began its functioning for the State of Bihar with its headquarters at Ranchi. The State Government decided to shift the headquarters of the Commission from Ranchi to Patna and it was finally shifted to Patna on 1 March 1951. The first Chairman of the Bihar Public Service Commission was Shri ...