Sunday, June 5, 2011

PFRDA: NPS equity investment cap to remain at 50%

PFRDA: NPS equity investment cap to remain at 50%

The Pension Fund Regulatory and Development Authority (PFRDA) today said it favoured retaining the cap on investment in equities by the New Pension Scheme at 50 per cent, irrespective of the recommendations of the Bajpai committee.

The NPS comprises three investment categories —- G (ultra safe), C (safe) and E (medium). Of these, the E category investments are invested in equity-related products, the cap for which is 50 per cent.--

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Arunachal govt employees to get additional 6% DA

 

The Arunachal Pradesh government has decided to release an additional 6% Dearness Allowance (DA) for its employees and pensioners with effect from January this year.

"Keeping in view the rising costs of daily living and the consequent hardships experienced by the employees, the government has decided to increase the DA to 51% from the existing 45% which, will cost the state exchequer a total of Rs 84.10 crore," state Finance Minister Kalikho Pul said in a statement today.

While holding that the financial position of the state can improve only when all categories of government officers and officials sustain efforts in enhancing the revenue, howsoever negligible the amount may be, he said that no government can manage the finances effectively only by spending.

"Rather we have to steadily achieve self-reliance in finance by increasing our own revenue," Pul pointed out.

Pul also informed that the government is considering sorting out stipend problems of the students by creating a separate head of expenditure and separate allocation so that monthly payment of stipends can be made to ensure smooth procurement of ration.

"Numerous poor students who are unable to pay their hostel dues will stand benefited under the new system and education as a whole will get boost in the state," he said.

The government is also actively considering providing stipends to students of class one to five of upgraded fourth standard to upper primary schools who are deprived of the facility after upgrading

 

http://www.moneycontrol.com/news/economy/arunachal-govt-employees-to-get-additional-6-da_554717.html

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