Topic: Welfare schemes for vulnerable sections of the population by the Centre and States and the performance of these schemes; Q3. Evaluate the role of social security in addressing the vulnerabilities of an ageing population. Assess the challenges posed by labour informality. Suggest reforms to strengthen universal social protection. (15 M) Difficulty Level: Medium Reference: …
Source: PIB Subject: Economy Context: The Pension Fund Regulatory and Development Authority (PFRDA) has set up an expert committee under M.S. Sahoo to design a framework for assured pension payouts under the National Pension Scheme (NPS). About M.S. Sahoo Committee: What it is? The M.S. Sahoo Committee is a 15-member expert group constituted to design …
Source: IE Subject: Economy Context: The Pension Fund Regulatory and Development Authority has notified the NPS Exit & Withdrawal (Amendment) Regulations, 2025, increasing lump sum withdrawal to 80% for non-government subscribers and allowing exit deferment up to 85 years, significantly enhancing flexibility and liquidity in NPS. About PFRDA (Exits and Withdrawals under the National Pension …
Source: TH Context: The Union Cabinet has approved the Terms of Reference (ToR) for the 8th Central Pay Commission (CPC) headed by Justice Ranjana Prakash Desai (Retd.). About The 8th Central Pay Commission: Definition: The 8th Central Pay Commission (CPC) is a temporary expert body set up by the Union Government to review and recommend …
Source: DD News Context: The finance ministry has notified the operationalization of the Unified Pension Scheme (UPS) as an option under the National Pension System (NPS) for central government employees, effective from April 1 of 2025. About Unified Pension Scheme (UPS): What is it? The Unified Pension Scheme (UPS) is a contributory pension scheme offering …
