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Archive for August, 2011

West Bengal issued orders for payment of 3rd installment of ROPA arrears and Bonus.

August 30, 2011 Leave a comment

“…to state that 50% of the third
installment of arrear already calculated ……will be paid to the state
Govt. employees with immediate effect and the remaining 50% of the third
installment of arrear will be decided later……”










Click here to view the O.M.


Grant or Ad-hoc Bonus to the State Government
Employees, Employees of public Undertakings and some other categoriesof
Employees for the year 2010-2011








Click here for the Adhoc Bonus Order



source – paycommissionupdate
Categories: BONUS, West Bengal bonus

No hike in retirement age for Govt employees.

August 11, 2011 Leave a comment

 “At present there is no proposal to increase the age of retirement of
Government servants,” Minister of State for Finance Namo Narain Meena said
in a written reply to the Rajya Sabha.

   He said this in reply to a query on whether the government was
considering increasing the retirement age of all central government
employees by two years to 62 years, from the current 60. The government
raised the retirement age of central government employees in 1998, when the
age of superannuation was extended from 58 to 60 years.


   Meena said the total number of Central Government employees as on
March 1, 2010, was 32.24 lakh. The total expenditure incurred by the
government after the implementation of the recommendation of the 6th Pay
Commission amounts to Rs 94,270.50 crore in the fiscal 2010-11. This was
higher than Rs 78,111.20 crore incurred in 2009-10, Meena added.


   The total expenditure incurred by the government on salaries and
allowances of central government employees before the implementation of the
6th Pay Commission for the fiscal 2008-09 was Rs 61,362 crore, he said.


Categories: RETIREMENT AGE

Govt., to recruit more persons in Ordnance Factories (OFB).

August 11, 2011 Leave a comment

Agreements of Ordnance Factories
with MNCs for ToT

   Ordnance Factory Board has been allowed to
enter into agreement with Foreign Vendors for Transfer of Technology, in
sequel to the Armed Forces procurement, on case to case basis.
Present Strength of the Staff at the
Ordnance Factories are not sufficient to meet the demands of the three
Services of the Armed Forces. Government proposes to recruit more persons
for the purpose.

   During financial year 2010-11, total 14,199
Nos. of staff have been inducted at various levels in Ordnance Factories.
This information was given by Minister of
State for Defence Shri MM Pallam Raju in a written reply to Shri Sanjay Raut
in Rajya Sabha today



Categories: OFB, VACANCY

Fresh empanelment of private under CGHS, BENGALURU, CHANDIGARH, CHENNAI, HYDERABAD. JABALPUR, KANPUR, KOLKATA AND MUMBAI

August 11, 2011 Leave a comment



Government of India
Ministry of Health and Family Welfare
Department of Health & Family Welfare
Nirman Bhawan, New Delhi 110 108


No:S.110011/23/2009-CGHS D.II/Hospital Cell (Part IX)

Dated, the 27th JuIy, 2011

OFFICE MEMORANDUM

Subject:- Fresh empanelment of private under CGHS, BENGALURU,
CHANDIGARH, CHENNAI, HYDERABAD. JABALPUR, KANPUR, KOLKATA AND MUMBAI

    1.  The undersigned is directed to state that CGHS had initiated action for
empanelment of private hospitals under CGHS, under Continuous Empanelment
Scheme, which was notified vide Office Memorandum of even number dated 8th
December, 2010.


   2. The undersigned is directed to enclose a further list of hospitals,
under the categories mentioned in the document, that have conveyed their
acceptance of the CGHS rates in various cities announced and placed on CGHS
website and have signed the Memorandum of Agreement with CGHS and have also
furnished the appropriate performance bank guarantee. These hospitals are
also taken as included in the list of approved hospitals for empanelment
under CGHS, Bengaluru, Chandigarh, Chennai, Hyderabad, Jabalpur, Kanpur,
Kolkata and Mumbai.


   3. It has now been decided that in the list of hospitals enclosed, which
have been now approved under the fresh empanelment procedure, and have now
signed the fresh Memorandum of Agreement and submitted the appropriate
performance guarantee will be eligible to treat CGHS beneficiaries at
revised rates with effect from the date of issue of letter.


   A copy of this Office Memorandum and CGHS rates for different cities are
available at web site http://msotransparent. nic. in/cghsnew/index.asp


 

[Jai Prakash]
Under Secretary to Government of India

Click here to view the list

Categories: CGHS, hospital list, PENSIONERS

Inclusion of names of members of family in the PPO and proof of age for additional quantum of family pension – requirement of certificates etc. -regarding.

August 8, 2011 Leave a comment


F.No. 1/19/11-P&PW(E)
Government of India
Ministry of Personnel, P.G. & Pensions
Department of Pension & Pensioners’
Welfare

** ** ** * * * *

Lok Nayak Bhawan,
Khan Market, New Delhi
Dated: 03.08.11

OFFICE MEMORANDUM

Subject:- Inclusion of names of members of family in the PPO and proof
of age for additional quantum of family pension – requirement of
certificates etc. -regarding.



   The undersigned is directed to refer to this Department’s O.M. No.
1/6/2008-P&Pw(E), dated 22.06.10 and No. 1/21/91-P&PW(E), dated 20.01.93,
regarding intimation of names of eligible family members by the pensioner or
the spouse to the Head of Office for inclusion in the Pension Payment Order
(PPO). It has been clarified in the O.M dated 22.06.10 that in cases where
the pensioner or his/ her spouse has expired, the widowed or divorced or
unmarried daughter/ parents/ dependent disabled children/ disabled siblings
can themselves intimate such details to the pension sanctioning authority,
who can process such cases if sufficient proof of entitlement is produced by
the claimant and all other conditions for grant of family pension are
fulfilled
.

   2. Attention is also invited to this Department’s O.M. No. 38/37/08-
P&PW(A) dated 21.05.09, wherein detailed instructions regarding
admissibility of documents as proof of date of birth of very old family
pensioner who neither have a birth certificate nor any other corroborating
document and whose date of birth is not available in the PPOs as well as in
the office records of CPAO/ PAO have been circulated.

   3. It is a matter of concern that a large number of complaints have been
received in this Department from various pensioners associations and
individuals that the documents submitted by them to the Heads of Office
concerned are not accepted by them. Complaints about inordinate delay of 2-
3 years in settling the claims have also been received.

   4. It is hereby reiterated that documents indicated in para 5 of O.M.,
dated 21.05.09 may be relied upon by the Heads of Office for admitting
claims of the family pensioners. In addition to these, the Aadhaar number
issued by Unique Identification Authority of India (UIDAI) may also be
accepted by the Heads of Office/ Pension Disbursing Authorities as valid
proof of identity. It is also emphasized that the date of birth of the
applicant may also be ascertained at the time of sanctioning family pension
as it may be required for deciding the quantum of additional family pension
when the family pensioner attains the age of 80 years or above.

   5. In case the applicant is unable to submit any of the documents
indicated above but claims family pension based on some other documentary
evidence, such cases may be submitted to the administrative Ministry/
Department. The decision of the administrative Ministry/ Department in this
regard will be final.

   6. Requests have also been received for inclusion of the name of
dependent disabled children in the PPO during the life-time of the
pensioner. It is hereby clarified that neither dependence nor disability are
bound to be permanent in nature. Therefore, the name(s) of such child/
children may be included in the details of family by the Head of Office on
receiving a request from the pensioner or his/ her spouse. However, family
pension would he sanctioned only when their turn comes to receive the family
pension on the demise of the pensioner/ family pensioner, after examining
the claim(s) of such disabled children for family pension subject to the
fulfilment of conditions stipulated in the relevant provisions of
CCS(Pension) Rules, 1972.

   7. All Ministries/ Departments are requested to give wide publicity to
these clarifications.

 
(Tripti P. Ghosh)
Director



order copy


Categories: PENSIONERS

Latest clarification regarding children education allowance.

August 8, 2011 Leave a comment


No. 20011/5/2008-AIS-II
Government of India
Ministry of Personnel, Public Grievances and Pensions
(Department of
Personnel and Training)





North Block, New Delhi-110001
Dated the 25th July, 2011.


To

The Chief Secretaries of all the

State Governments/UTs.


Subject:- Clarification on Children Education Allowance.


Sir,


   I am directed to enclose herewith a copy of this Department’s
O.M.No.21011/16/2009-Estt.(AL), dated 17th June, 2011 and to state that
clarification issued by the Central Government on Children Education
Allowance


vide this O.M. would also be applicable in respect of All India Services
officers.


 

Yours faithfully,
sd/-
(Yash Pal)
Desk Officer


Click here to view the order


How to Retire Early? Retire sooner and richer:

August 2, 2011 Leave a comment

The mindset of today’s young professionals is changing radically. They would like to have a semi-retired life in their late forties or early fifties by taking up a hobby instead of a regular job.
Here is a step by step guide to Retire Early.
How long you expect to live?
First of all, you need to decide on “How long you expect to live?” This is going to be the starting point for your retirement plan. This you can decide by your health history and your family health history.
Will you run out of money?
You need to accumulate enough money required to live up to that age. You need to calculate the corpus amount required for retirement based on when do you want to retire?, how much you need to spend every month after retiring?, Inflation, tax, investment returns and the like.
There are two things which can make you run out of money in between. One is inflation and the other one is medical expenses at the old age. So you need to be very careful in assuming inflation when planning for retirement. Also you need to be adequately covered with right health insurance policies.
 
 
Retirement corpus Break up:
 
You need to divide your retirement corpus into two portions. One portion of it is the corpus required to retire at the regular age. It could be 58 or 60. The other portion is the corpus required to live between the early retirement and the regular retirement. Say if you want to retire at 50, what would be the corpus required to live between the age of 50 and the regular retirement age of 58 or 60.
 
First you need to accumulate money for your regular retirement. Then you need to proceed to accumulate for your early retirement. This way you break your targets and it psychologically gives you a lot of comfort in achieving early retirement.

 

Don’t fall for get-rich-quick schemes
To retire early, definitely you need a sizable corpus. Don’t look for any short cuts and get-rich-quick schemes. Only with the increased risk comes the increased return. If any scheme assures low risk and high return, then it is going to be another scam. So stay away from those schemes.
Don’t fear stocks
 
You need to consider investing in a well diversified portfolio for long-term. Diversified Equity mutual fund schemes are better. By investing in a diversified equity portfolio you will be taking calculated risk and not blind risk. Equities will beat all other asset classes in the long run. So it is an important option for those who want to retire early.
Reduce your annual cash requirements for when you retire by working out a careful budget
The monthly income required after retirement is going to be an important criteria for deciding the retirement corpus. If you are comfortable with lesser income you can retire sooner. So you need to be careful in drawing a budget for cash requirement post retirement.
Investigate a better return on your savings
Better return on your investment portfolio will help you retiring early. So maximize the return on your portfolio as far as possible.
Cut your current spending so you can save more
Money spent is money saved. Spend less; save more; invest smarter and retire sooner. There are more number of ways to spend smarter to save more. (Link this article here http://getahead.rediff.com/slide-show/2010/oct/14/slide-show-1-money-control-emotions-spend-smarter-and-save-more.htm)
Earn more now
Time is money. Don’t waste your time.  Invest your time in revenue generating activities. Apart from your regular income source, there are other opportunities which you can exploit. You can create blogs; you can be a freelance writer; you can do internet marketing. There will be numerous opportunities based on your knowledge and skills if you take time to think and implement.
Take advantage of tax-deferred opportunities
 
Tax deferment is an important tool for early retirement. Tax deferment means less tax now. If you pay less tax and you will have more money to save. You need to pay tax on FDs on maturity even if you renew them. Income funds and MIPs could be a better alternative to this. You need to pay tax only when you actually redeem.

Find out some ways to have an income
 
Even after retirement you can have an income by way of a hobby or interest. You need not work on a regular schedule. Say you can be a trainer, you can be a blogger, you can be a consultant, or you can be an advisor in your chosen field. It generates money as well as it keeps you engaged after retirement. One of my clients has written a book and he is able to generate income from the copyright of that book year on year.  If you are able to generate this kind of income, then you can retire early.
 
Retiring early is possible for each and everybody. You need to start planning for it little earlier. Professional assistance from financial planners will be of definitely useful to you, if you desire to retire sooner and retire richer.
 
The author is Ramalingam K, an MBA (Finance) and Certified Financial Planner. He is the Founder and Director of Holistic Investment Planners (www.holisticinvestment.in) a firm that offers Financial Planning and Wealth Management. He can be reached at ramalingam@holisticinvestment.in.