Retired Delhi government employees and teachers face severe financial strain due to delayed Unified Pension Scheme payouts, prompting the AINPSEF to appeal to Finance Minister Nirmala Sitharaman.
Central government school teachers represented by AINPSEF placed demands before the 8th Pay Commission in New Delhi, seeking equal pay, Old Pension Scheme restoration, a 65-year retirement age, and enhanced promotion quotas.
Finance Minister Nirmala Sitharaman confirmed no changes are planned for the Unified Pension Scheme (UPS), which provides assured monthly payouts to Central government employees under NPS. Over 118,000 employees have opted for the scheme, which also offers tax benefits and a one-way switch option.
Central government employee bodies are demanding the restoration of the Old Pension Scheme (OPS) through the 8th Pay Commission, citing insufficient retirement security from the New Pension Scheme (NPS). However, the government has informed Parliament that no such proposal is currently under consideration, despite arguments that OPS provides a respectable and sustainable pension.
India's central government has implemented the Employees' Pension Scheme (EPS) 2026, replacing the 1971 and 1995 schemes. While the pension calculation formula remains unchanged, new rules address fund investment, digital compliance, and offer 12% interest for delayed claims.
The UK government admitted its outsourced civil service pension scheme, run by Capita, failed, leaving thousands, including a 98-year-old and a young widow, in financial hardship. The Cabinet Office plans to bring the scheme back in-house due to "unacceptable" service levels and missed targets.
India's government is developing a new pension scheme under the EPFO 3.0 framework, aiming to extend retirement benefits to formal and unorganised sector workers. The contributory plan will allow members to build a retirement corpus through government-backed investments, offering flexible withdrawal options or annuities at retirement.
The Employees' Pension Scheme (EPS), 2026, introduces significant changes for EPF members, including a 36-month waiting period for withdrawal benefits and faster claim settlement. Existing members will continue seamlessly under the new scheme.
Capita expects to lose up to £40m annually due to the crisis at the Civil Service Pension Scheme. This follows a poor service that left thousands of civil servants without income and retirement quotes, leading to government withholding nearly £10m and calls to strip Capita of its contract.
The new Employees' Pension Scheme (EPS), 2026, replaces EPS-1995 and EPS-1971. It maintains the existing pension calculation formula and a pensionable salary based on the average of the last 60 months' earnings. A minimum monthly pension of Rs 1,000 is assured, and service years are enhanced by two years for those with 20+ years of contribution.
India has introduced the Employees' Pension Scheme (EPS), 2026, replacing the EPS, 1971, and EPS, 1995. The minimum pension limit remains Rs 1,000, and the calculation formula is unchanged, based on pensionable salary and service.
The Employees' Pension Scheme (EPS), 2026, has replaced the EPS, 1971, and EPS-95, effective June 29, 2026. While core benefits like the pension formula and contributions remain, key changes include faster pension claim settlements within 20 days and a 12% interest penalty for EPFO delays.
BT's pension scheme incurred a £300m loss after writing off its 8.7% equity stake in Thames Water, which faces a £20bn debt crisis. The scheme also sold its debt exposure to avoid further losses.
Andhra Pradesh Cabinet approves raising retirement age to 62 for PSU, Gurukul, and welfare society employees. Around 11,000 employees appointed before Sept 2004 will move from CPS to OPS, enhancing post-retirement security.
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.
