“That growth far outpaces the increase in corpus, membership or even the number of pensioners. India’s formal workforce is ageing, and the fastest-growing category of pensioners isn’t retirees but surviving spouses, whose numbers have risen 28% over the past five years. EPFO is gradually shifting from paying workers to supporting the families they leave behind,” Kabra said.
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Healthcare Systems' Liquidity Challenge
If you have recently switched jobs, don’t expect your provident fund (PF) balance to move to your new employer’s account immediately. Under EPFO’s new transfer mechanism, the process is triggered only after your new employer deposits the first EPF contribution. “…Whenever an employee joins a new job and the first month’s PF contribution is received…
Torsten Bell’s reappointment to his dual role at the Department for Work and Pensions and HM Treasury has been broadly welcomed by the pensions industry. However, experts have reiterated the need for stability and a sharper focus on delivering reforms. Bell will remain pensions minister following the government reshuffle confirmed on 22 July, avoiding what…
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