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Minister of State for Personnel, Jitendra Singh, highlighted that the amendment seeks to resolve issues stemming from marital conflicts, encompassing divorce proceedings and legal cases under acts like the Protection of Women from Domestic Violence.

Family Pension Choice: Govt Allows Women to Choose Kids for Family Pension Now

Women govt employees can now nominate children for family pension over spouse 

Minister of State for Personnel, Jitendra Singh, highlighted that the amendment seeks to resolve issues stemming from marital conflicts, encompassing divorce proceedings and legal cases under acts like the Protection of Women from Domestic Violence.

The Department of Pensions and Pensioners' Welfare announced an important amendment to the Central Civil Services (Pension) Rules, 2021. Now, female government employees and pensioners have the option to nominate their children to receive the family pension over their spouse.
Minister of State for Personnel, Jitendra Singh, stated that the amendment aims to address situations arising from marital discord, including divorce proceedings or cases filed under laws such as the Protection of Women from Domestic Violence Act, Dowry Prohibition Act, or the Indian Penal Code.
Singh emphasized that this decision aligns with Prime Minister Narendra Modi's commitment to providing just and legitimate rights to women across all sectors. The amended rule grants women employees the right to nominate their son or daughter for family pension, challenging the traditional practice of nominating the husband.
The procedure for availing this option involves the female government employee or pensioner submitting a written request to the head of the office, explicitly stating that family pension should be granted to her eligible child or children in precedence to her spouse upon her demise.
The DoPPW outlined that if the female government servant or pensioner passes away during the proceedings, the family pension will be disbursed accordingly. In cases where a woman employee is survived by a widower without eligible children, the family pension will be payable to the widower.
For situations where the widower is the guardian of a minor child or a child with a mental disorder, the family pension will be payable to the widower until the child attains majority and becomes eligible for family pension, at which point it will be paid directly to the child.
The minister noted that this initiative was prompted by numerous representations from women officials and pensioners who sought the possibility of nominating children before the spouse, especially in cases involving divorce proceedings or pending domestic violence cases against the spouse.
The government's proactive approach reflects its commitment to fostering gender equity and ensuring the well-being of women employees and pensioners.
Also Read: <a href="https://www.editorji.com/business-news/startups/elon-musk-s-neuralink-implants-brain-chip-named-named-telepathy-in-first-human-patient-1706585401031">Elon Musk's Neuralink implants brain chip named named 'Telepathy' in first human patient</a>

While the government pays the entire amount and nothing is cut from the employees' salary under the Old Pension Scheme, in the National Pension Scheme the employees must contribute an amount until they are 60

Old Pension scheme 4.5 times costlier than National Pension scheme: RBI

While the government pays the entire amount and nothing is cut from the employees' salary under the Old Pension Scheme, in the National Pension Scheme the employees must contribute an amount until they are 60

A RBI study has revealed that implementing the old pension scheme (OPS) would be 4.5 times more costlier than the existing national pension scheme (NPS), thus increasing the financial burden on the government.&nbsp;
The study also highlighted that going back to old pension scheme can increase the fiscal stress to unsustainable levels in the medium to long term. The report comes after five states in India - Rajasthan, Chhattisgarh, Jharkhand, Punjab, and Himachal Pradesh had announced adopting Old Pension Scheme for government employees.
Also watch: <a href="https://www.editorji.com/business-news/invest-smart/invest-smart-national-pension-scheme-nps-here-s-all-you-need-to-know-1685708197315">Invest Smart: National Pension Scheme (NPS) - Here's all you need to know</a>
The study has revealed that Chhattisgarh would be required to spend 4.6 times more to implement the OPS, while Jharakhand would have to spend 4.4 times more and Rajasthan 4.2 times more.
"Short-run reduction in states' pension outgo, which may be driving decisions to restore OPS would be eclipsed by the huge rise in unfunded liabilities in the long run", said the RBI study
<h2>Old Pension Scheme</h2>
Under the old pension scheme the government pays the entire amount and nothing is cut from the employees' salary. After retirement the governmeny employees receive the entire pension amount along with the benefit of revision in Dearness Allowance (DA) twice a year. Since the pension is based on the last drawn salary plus DA, the amount payable increases twice a year along with the DA. OPS also covers only the government employees.
<h2>National Pension Scheme</h2>
The NPS that was introduced by the NDA government in 2004 for government employees extended to everyone including the self-employed and unorganised workers. Under this scheme the citizens contribute an amount until they are 60 and receive a pension after retirement. While the government employees will have to 10% of their basic salary along with the Dearness allowance, others could contribute as little as Rs 500 per month.&nbsp;
&nbsp;
&nbsp;

3rd May 2023 is the last day to apply for higher pension from the Employee Pension Scheme. Eligible candidates will not be able to avail the option later if the deadline to apply is missed

3rd May 2023: last day to apply for higher pension from EPS

3rd May 2023 is the last day to apply for higher pension from the Employee Pension Scheme. Eligible candidates will not be able to avail the option later if the deadline to apply is missed

3rd May 2023 is the last day to apply for higher pension from the Employee Provident Scheme Eligible people shouldn't miss this opportunity as after tomorrow the application will be closed.
The Employee Provident fund organisation has already extended the deadline once. As per Economic Times, the Supreme Court judgement has allowed a time period of four months from the date of the order, i.e., till March 3, 2023. However, the EPFO delayed the implementation of the order and issued the circular for the same on December 29, 2022 and then again on February 20, 2023. To allow the adequate time to eligible employees, the deadline was extended to May 3, 2023.
As per Supreme Court anyone who is an EPS member as on 1st September 2014 are eligible to apply for higher contributions. As per EPFO's circular dated December 29, 2022, employees whose contribution to the EPF scheme was higher than the wage ceiling of Rs 6,500 or Rs 5,000,&nbsp; are eligible for higher pension contributions. An employee with a basic salary exceeding Rs 15,000 per month at the time of joining the EPF scheme will not be able to apply for higher pension contribution. Any employee who retired before 1st september 2014 but didn't opt for higher contributions will not be eligible to apply now.
Eligible candidates can submit joint application form for higher pension on the EPFO's Member Sewa portal. The Supreme Court in its 2014 judgement had struck down the portion of EPFO 2014 notification which asked employees to make additional 1.16% contribution to the EPS account if higher EPS pension was opted at that time. EPFO is yet to clarify on how this additional 1.16% EPS contribution will be considered.

 Life Certificate can submit the certificate physically at a bank or post office. For a hassle-free process one can opt for online procedures that are as follows

Life Certificate Online | Jeevan Pramaan Certificate : Government Pension: How to submit life certificate online?

The timeline for submitting the life certificate of government pensioners is between November 1 to 30. However, people aged 80 or above can submit their life certificate or 'Jeevan Praman Patra' starting this month.

How to submit life certificate for pensioners?

The timeline for submitting the life certificate of government pensioners is between November 1 to 30. However, people aged 80 or above can submit their life certificate or 'Jeevan Praman Patra' starting this month.
One can submit the certificate physically at a bank or post office. For a hassle-free process one can opt for online procedures that are as follows:
&nbsp;
1. Online submission:&nbsp;
<ul>
<li>Visit the&nbsp;Jeevan Pramaan portal</li>
<li>Download the Mobile app and register</li>
<li>Put in details like pensioner&rsquo;s Aadhaar number, mobile number, etc.</li>
<li>Your online Life certificate will be ready to download</li>
<li>Life certificate will be available to the pension disbursing agency.</li>
</ul>
2.&nbsp;Doorstep Digital Life Certificate:
<ul>
<li>Place a request&nbsp;via &lsquo;Postinfo&rsquo; mobile app or website</li>
<li>A&nbsp;Pramaan ID will be generated after the postman visit</li>
<li>Pensioner can download the Jeevan Pramaan Patra after the process</li>
<li>Post Office will charge a nominal fee of Rs 70</li>
</ul>

The timeline for submitting the life certificate of government pensioners is between November 1 to 30.

The timeline for submitting the life certificate of government pensioners is between November 1 to 30. However, people aged 80 or above can submit their life certificate or 'Jeevan Praman Patra' starting this month.
One can submit the certificate physically at a bank or post office. For a hassle-free process one can opt for online procedures that are as follows:
<h3>1. Life Certificate Online or&nbsp;Jeevan Pramaan Online submission:&nbsp;</h3>
&bull;&nbsp; Visit the&nbsp;Jeevan Pramaan portal (https://jeevanpramaan.gov.in/)
&bull;&nbsp; Download the PC/Mobile/Tablet application to register for a Life Certificate
&bull;&nbsp; Put details like pensioner&rsquo;s Aadhaar number, mobile number,&nbsp;pension account number, bank details, name of pension sanctioning authority, pension disbursing authority, etc.
&bull;&nbsp; Download digital life certificate in a PDF format.
&bull;&nbsp; Following this, life certificate will be available to the pension disbursing agency.
<h3>2.&nbsp;Doorstep Digital Life Certificate:</h3>
&bull;&nbsp; Place a request for a doorstep visit by the postman/grameen dak sevak&nbsp;via &lsquo;Postinfo&rsquo; info mobile application or the website
&bull;&nbsp; A&nbsp;Pramaan ID will be generated after showing the postman all the required documents
&bull;&nbsp; Pensioner can download the Jeevan Pramaan Patra through the link https://jeevanpramaan.gov.in/ppouser/login
&bull;&nbsp; Post Office will charge a nominal fee of Rs 70

Life Insurance Corporation (LIC) of India has introduced LIC Saral Pension plan, a non-linked, non-participating, single premium, individual immediate annuity plan.
Simply speaking, in&nbsp;Saral Pension plan the policyholder or the investor makes a lumpsum payment upfront and the annuity payment starts immediately. It offers a guaranteed return that does not depend on markets or the insurers&rsquo; profits. Like other annuity plans, Saral Pension doesn&rsquo;t have any cap on the investment amount.&nbsp;
The minimum annuity is Rs 12,000 per annum and minimum purchase price shall depend on the annuity mode, option chosen, and age of the applicant.&nbsp;
&nbsp;

LIC launches Saral pension plan

LIC launches Saral pension plan, click here to know the details&nbsp;

LIC launches Saral pension plan 

<ul>
<li>LIC launches Saral pension plan</li>
<li>Saral Pension is a single premium, individual immediate annuity plan.</li>
</ul>
Can do gfx&nbsp; LIC&nbsp;Offers Saral&nbsp;Pension Plan
-&gt; Investor makes a lumpsum payment upfront&nbsp;
-&gt; Annuity payment starts immediately
-&gt; Offers a guaranteed return that does not depend on markets/insurers&rsquo; profits
-&gt; Minimum annuity is Rs 12,000 per annum&nbsp;, No cap on maximum

The annuity pension plan is as per the guidelines of Insurance Regulatory and Development Authority of India (IRDAI), which offers same terms and conditions across all the life insurer.

Life Insurance Corporation (LIC) of India has introduced LIC Saral Pension plan, a non-linked, non-participating, single premium, individual immediate annuity plan.
Simply speaking, in&nbsp;Saral Pension plan the policyholder or the investor makes a lumpsum payment upfront and the annuity payment starts immediately. It offers a guaranteed return that does not depend on markets or the insurers&rsquo; profits. Like other annuity plans, Saral Pension doesn&rsquo;t have any cap on the investment amount.&nbsp;
The minimum annuity is Rs 12,000 per annum and minimum purchase price shall depend on the annuity mode, option chosen, and age of the applicant.&nbsp; 
&nbsp;

pension

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