Old age Pensions
conomictimes.indiatimes.com (15.06.2020) The Employees' Provident Fund Organisation (EPFO) will reduce its EPF contribution rate from 12 per cent to 10 per cent for both employers and employees for the months of months May 2020, June 2020 and July 2020. It is applicable to all class of establishments covered under the EPF & MP Act, 1952 except the establishments like Central and State Public sector enterprises or any other establishments owned or controlled of the Central govt or State govt.The reduced rate is also not applicable to establishments eligible for PMGKY benefits, since the
socialprotection.org (September 2020) This document provides information and guidance on social protection and older people, with a focus on pensions to cushion the economic impacts of COVID-19. It is intended as an advisory for people involved in planning and delivering social protection support for older people across a range of contexts. The document briefly describes the specific impact of COVID-19 on older people’s health and wellbeing, as well as the socio-economic impacts.
Ministry of Economy (28.09.2020) The requirement of the annual Proof of Life (re-registration) of retired civil servants, pensioners and civil political amnesties referred to in Ordinance No. 244 and Normative Instruction No. 45, both of June 15, 2020, is suspended until October 31, 2020.
Help Age Asia (2020) As part of an Asia-Pacific regional initiative, HelpAge International and partner organisations are producing bimonthly briefs to summarise trends in the situation of older people and responses to their situation in the wake of the COVID-19 pandemic.
Luego que esta tarde la Cámara de Diputadas y Diputados aprobara el proyecto de reforma constitucional que permite retirar el 10% de los fondos de pensiones de las cuentas de capitalización individual obligatoria, la Superintendencia de Pensiones (SP) emitió dos oficios con instrucciones con el procedimiento, los plazos y los resguardos que las administradoras de fondos de pensiones (AFP) deberán adoptar para garantizar la correcta aplicación de la nueva ley. Los regulados tienen hasta el próximo martes 28 de julio para entregar sus comentarios.
The government website (04.07.2020) The cabinet and social partners have reached final agreement on the details of the pension agreement. The new system will be more transparent. Workers and retirees gain a clearer insight into the accumulated assets. It also provides a realistic expectation and offers more prospects for a high-purchasing pension. The pension entitlements from the current system will be abandoned, thus eliminating the need for the use of actuarial interest and funding ratios. As a result, pensions and benefits can move faster with the state of the economy than is currently