The Employees' Pension Scheme (EPS), 1995, managed by EPFO, provides retirement, family, and disablement pensions to organized sector workers earning up to Rs 15,000/month. Key aspects include eligibility, benefit types, pension calculation (Pensionable Salary x Pensionable Service / 70), early withdrawal options, and the requirement for regular life/digital life certificates.
Thousands, including Kay Donald, face delays in receiving pensions after Capita took over the Civil Service Pension Scheme, causing distress and financial hardship.
Two letters debate public sector defined-benefit pension schemes. One argues the £1tn liability figure is misleading and that good pensions help attract staff, while the other suggests raising pay to allow workers to fund their own pensions.
Federal Minister of Labour Bärbel Bas (SPD) is pushing for civil servants to contribute to the statutory pension insurance in the future. She argues this would increase funds and reduce state contributions, suggesting initial steps could be taken during the planned pension reform. Bas also indicated openness to raising the retirement age beyond 67.
South Korea's corporate retirement pension funds exceeded 500 trillion won in 2025, a 16.1% increase from the previous year. Investment returns also rose to 6.5%, the best performance since 2005, driven by a stock market rally.
Jan Suraksha programmes have paid out nearly Rs 25,160 crore in claims over a decade, with millions enrolled in life cover, accident insurance, and pension schemes. Finance Minister Nirmala Sitharaman highlighted the success of PMJJBY, PMSBY, and APY in providing affordable social security, especially for vulnerable sections.
The postwar model of a secure, leisure-filled retirement in Britain is fading due to economic shifts, pension reforms, and intergenerational inequality. Future generations face a period of 'old-age austerity' that necessitates a fundamental rethink of life and work.
All India NPS Employees' Federation met with the 8th Pay Commission on April 30, 2026, demanding that central government NPS subscribers be given the option to switch to the Old Pension Scheme after completing certain years of service. The federation also sought raising the retirement age for central government teachers from 60 to 65 years, and simultaneous implementation of central government orders for employees from Union Territories and Central Government Autonomous Bodies. Other demands include a 3.833 fitment factor, minimum basic pay of Rs 69,000, and a uniform leave policy.
NC-JCM representatives met with the 8th Pay Commission on April 28, 2026, requesting extension of memorandum submission deadline from April 30 to May 31, 2026, citing technical issues with online submissions. The employee body also reiterated its demand for revival of the Old Pension Scheme, sought separate hearing slots for different employee federations, and urged the commission to visit Railways and Defence industries to assess hazardous working conditions of employees.
