A total of 1.3 lakh minors have been enrolled under the NPS Vatsalya Scheme, the Union government informed the Parliament. In a written reply in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said that 130 thousand minor subscribers are registered under the NPS Vatsalya Scheme from September last year till August 3….
Unified Pension Scheme (UPS) has received 7,253 claims, Finance Minister Nirmala Sitharaman said on Monday, July 28. Out of these 7,253 claims, 4,978 claims have been processed for payment of benefits, as of July 20. There are 25,756 retired Central government subscribers eligible to receive additional benefits under UPS, according to the eligibility criteria, the…
Income Tax Calculations: Earning a fat pay cheque is one ambition; paying no income tax on it is another. However, income tax increases as your income rises. But there are always ways to reduce the tax liability through exemptions and deductions. If you earn Rs 15 lakh in a financial year and harbour the ambition…
1. National Pension Scheme (NPS) NPS is a voluntary retirement savings scheme that offers market-linked returns. NPS is open to all Indian citizens, including those in the unorganized sector. At retirement, investors can withdraw a part of the corpus and use the rest to get a monthly pension. It offers tax benefits under Sections 80C…
UPS vs NPS Monthly Pension Calculations: National Pension System (NPS) is the default pension scheme for central government employees, but they can also select Unified Pension System (UPS) now. Both retirement schemes offer a lump sum amount and a monthly pension at retirement. However, the contribution amount and the way the lump sum amount and…
The Finance Ministry today (Friday, May 30, 2025) said that the central government NPS subscribers who retired on or before March 31, 2025, with a minimum of 10 years of qualifying service, or their legally wedded spouse, can claim the following additional benefits under Unified Pension Scheme (UPS), over and above the NPS benefits already…