Category Pension News
Government employees switching to the Unified Pension Scheme (UPS) can hope to see a significant increase in their pension, as the government’s contribution is set to increase from 14% to 18.5%.
Following our update on the Unified Pension Scheme, we present a comparison chart below detailing the differences between the Old Pension Scheme (OPS), National Pension System (NPS), and Unified Pension Scheme (UPS).: Feature Old Pension Scheme (OPS) National Pension System… Continue Reading →
Understanding the Unified Pension Scheme: A New Era for Government Employees The Unified Pension Scheme (UPS), recently approved by the Union Cabinet, marks a significant shift in the pension landscape for central government employees. Set to launch on April 1,… Continue Reading →
Data indicates an increase of 23 slabs for RBI Pensioners, Family Pensioners, and other Bank Pensioners whose pension is merged at 6352 points.
The increase is 1.61% over the earlier half year and the total DR comes to 50.12% of the Basic Pension. The details are given in the chart below.
Notably, the RBI transferred a surplus of Rs 9,75,118 crores to the Government of India between 2011/12 and 2023/24, a remarkable achievement.
New DA Calculation introduced Before the 12th Bipartite settlement was implemented, the Dearness Allowance (DA) for Bank employees was calculated based on the quarterly average of the All-India Consumer Price Index Numbers (AICPIN) for Industrial Workers Base 2016=100. The quarterly… Continue Reading →
RBI Pensioners may note the following information for Income tax guidelines about matters like reporting savings, investments, and claiming rebates/deductions to the offices concerned for the Financial Year (FY) 2024-25. New Tax Regime a) By default, the TAX REGIME from… Continue Reading →
RBI has recently made a significant modification to the Master circular Para 12.1 Master Circular modified: As per para 12.1 the dispensary facility such as free treatment and issue of drugs on credit slips as per norms is accessible only… Continue Reading →
We understand that managing access rights to the portal can be complex,
but we believe that extending this privilege to pre-August 16 retirees is a fair and just measure.
Group Mediclaim Policy-OPD policy for all pensioners aged 60 years and above for the period April 01, 2024, to March 31, 2025, has been placed with New India Assurance Company Limited. There are changes in the policy as under: Group Mediclaim Policy… Continue Reading →