Enter Keyword and Search

DM orders verification of pension disbursed

with 0 Comment

After reports of anomalies in distribution of old age pension, District Magistrate Amit Gupta today ordered verification of pension disbursed earlier.

"I have been receiving reports of anomalies in distribution of old age pension from various quarters, following which, I have directed officers to verify pension disbursed earlier, so that only the genuine beneficiary gets it," Gupta said.

The DM said that officers have been asked to meet beneficiaries personally and submit their report to him and added that entry of brokers, if any, should be checked at the social welfare office.

Workmen or unions must be heard in labour disputes: SC

with 0 Comment

In labour disputes, the aggrieved workmen/unions should be compulsorily heard by the courts, before any order is passed, as otherwise, it would be violation of the "principles of natural justice," the Supreme Court has ruled.

"Labour statutes are meant for the benefit of the workmen. Hence, ordinarily in all cases under labour statutes the workmen, or at least some of them in a representative capacity, or the trade-union representing the workmen concerned must be made a party," a bench of Justices Markandeya Katju and Asok Kumar Ganguly observed.

The apex court passed the ruling while directing the Employees State Insurance (ESI) Court in Travancore to implead (hear) certain workmen who had been refused medical insurance benefits by the Fertilizers Chemicals Travancore Ltd to decide the eligibility of the workmen under the scheme.
Source: PTI

PFRDA board clears extra a/c for NPS subscribers

with 0 Comment

The Pension Fund Regulatory Development Authority (PFRDA) board on Wednesday decided to provide the New Pension System (NPS) subscribers with an extra account from which funds can be withdrawn anytime they want.

An NPS subscriber can now have two accounts—a standard one and a flexible one. Although the norms for investing the contributions to these two accounts would be the same, subscribers will have greater flexibility in accessing funds from the second one, when needed. One can access funds from the standard account called tier one only for specific needs such as medical emergency or marriage. The flexible account will be introduced on December 1, 2009.

The pension regulator also decided in principle to introduce a low-cost pension scheme for the poor, for which PFRDA is negotiating with the record keeper to reduce the annual charges from Rs 350 to Rs 60, PFRDA chairman D Swarup told ET.

The National Securities Depositories (NSDL) has agreed to slash the charges to Rs 75 a year, but PFRDA is negotiating to further lower it to Rs 60. The scheme would enable a large section of the nearly 28 crore low-income workers such as rickshaw pullers, fishermen, weavers and street hawkers to have a safety net to lean on when they enter the twilight years of their working life.

“The idea of having more than one record keeping agency has also received the blessings of the PFRDA board,” said Mr Swarup. Competition among record keeping agencies would bring down cost and enhance efficiency, pension experts said.

The three-member board of the regulator also decided to accept proposals from corporate entities to manage their pension funds subject to the condition that these entities will have only those investment choices that are available to any other pension subscriber. They will not be able to customise the investment options NPS’ fund management charges are quite low. The regulator has already received proposals in this regard from SBI and Himachal Road Transport Corporation.
source:The Economic Times

Recent Stories...


90Paisa - Dedicated to Central Government Employees and Pensioners. As and when orders amending the rules are published by the Government, the amendment orders will be published in our blog immediately. Readers are requested to refer to the source link is given at the end of the post.
All efforts have been made to ensure accuracy of the content on this blog, the same should not be construed as a statement of law or used for any legal purposes. 90paisa accepts no responsibility in relation to the accuracy, completeness, usefulness or otherwise, of the contents. Users are advised to verify/check any information with the relevant department(s) and/or other source(s), and to obtain any appropriate professional advice before acting on the information provided in the blog.
Links to other websites that have been included on this blog are provided for public convenience only.
90paisa is not responsible for the contents or reliability of linked websites and does not necessarily endorse the view expressed within them. We cannot guarantee the availability of such linked pages at all times.
10 crore viewers…90 Paisa Blog touches new heights
Making a Mark Achieved 100 Million Page Views - "Central Government Employees News" Blog
We are proud of our latest accomplishment – 90Paisa Blog, the first ever blog for Central Government employees, has now crossed 10 crore hits!!!
From the bottom of our hearts, we express our sincere gratitude to all our patrons who have been supporting us all along.

Civilian Pay Matrix

Defence Pay Matrix

Popular Posts

Ever Green Posts

Ever Remembering Pots..!

Recent Posts