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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 ...
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 ...
Contribution-based pension system. For government employees in 2004 and the general public in 2009. Deendayal Disabled Rehabilitation Scheme: CS MoSJE: 2003: Social Justice: Original form was the 1999 scheme to Promote Voluntary Action for Persons with Disabilities, with the aim of implementing Persons With Disabilities Act, 1995.
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]
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 unified pension system is a pension system for civil servants in India, that replaces the defined-benefit, unfunded, Old Pension Scheme. In the unified pension system, a civil servant contributes 10% of their salary while the government contributes 18% each month on their behalf.
Atal Pension Yojana (APY, translation: Atal's Pension Scheme), formerly known as Swavalamban Yojana (SY, translation: Self-Support Scheme) is a government-backed pension scheme in India, primarily targeted at the unorganised sector. It was mentioned in the year 2015 Budget speech by the Finance Minister Arun Jaitley. [1]