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Tuesday, July 28, 2009

Preparation and maintenance of Annual Performance Assessment Reports : OM

Ministry of Personnel, Public Grievances and Pensions has issued an office memorandum on Preparation and maintenance of Annual Performance Assessment Reports

http://persmin.gov.in/WriteData/CircularNotification/ScanDocument/21011_1_2005-Estt(A)_(Pt-II)-1.pdf

Monday, July 27, 2009

INS Arihant – NDTV Video

India, on Sunday, became only the sixth nation to produce a nuclear-powered submarine. India's own nuclear-powered submarine, INS Arihant, was launched by the Prime Minister.

Saturday, July 25, 2009

Enhancement of Child Adoption Leave from 135 days to 180 days and extension of the facility of Paternity Leave to adoptive fathers

No. 13018/1/2009-Estt.(L)
GOVERNMENT OF INDIA
Ministry of Personnel, Public Grievances & Pensions
(Department of Pension & Pensioners'Welfare)

Lok Nayak Bhawan,New Delhi-110003
dated the 22nd July, 2009

OFFICE MEMORANDUM

Sub: Enhancement of Child Adoption Leave from 135 days to 180 days and extension of the facility of Paternity Leave to adoptive fathers.

The undersigned is directed to refer to this Department's O.M. No.13018/4/2004-Estt.(L) dated 31st March, 2006 regarding grant of Child Adoption Leave for 135 days to female Government servant on adoption of a child upto the age of one year, on the lines of maternity leave admissible to natural mothers. After implementation of the Sixth Central Pay Commission recommendations, the period of maternity leave was enhanced from 135 days to 180 days. Subsequently, this Department has received representations requesting for enhancement of the period of Child Adoption Leave from 135 days to 180 days in line with the maternity leave. The matter has been examined in this Department and it has been decided to enhance the period of Child Adoption Leave from 135 days to 180 days.

2. A female Government servant in whose case the period of 135 days of Child Adoption Leave has not expired on the date of issue of these orders shall also be eligible for Child Adoption Leave of 180 days.

3. It has also been decided that a male Government servant (including an apprentice) with less than two surviving children, on valid adoption of a child below the age of one year, may be sanctioned Paternity Leave for a period of 15 days within a period of six months from the date of valid adoption.

4. These orders shall take effect from the date of issue.

5. In so far as persons serving in the Indian Audit and Accounts Department are conceded, these orders issue in consultation with the Comptroller and Auditor General of India.

Friday, July 24, 2009

LIFE COVER OF Rs 1 CRORE FOR JUST Rs. 15000

There is a quiet rate war raging among insurers that has brought down the cost of Rs 1 crore cover to Rs 15,000 from over Rs 50,000 per annum a decade ago. A big chunk of the reduction has happened in recent months. Without much publicity life insurance companies have drastically reduced premium rates on high-value term insurance policies of Rs 1cr and above.
As against a premium of over Rs 50,000 for a Rs 1 cr cover for a 30-year old woman charged by Life Insurance Corporation a decade ago, private life insurer Birla Sun Life are offering a similar cover for an annual premium of around Rs 15,000.
Other private life insurers, such as ICICI Prudential life and HDFC Standard Life, have also reduced their term insurance rates. The term rates for LIC policies, too, have come down drastically as compared to 10 years ago.
Today, one can avail of a LIC term policy with a sum assured of Rs 1cr for an annual premium of nearly Rs 25,700-32 ,000. But unlike LIC whose rates are available to most buyers, Birla Sun Life has stringent underwriting norms and the rates are available to only those in the best of health.
Term insurance is a cover where the only benefit is a payment if the insured dies during the term of the policy is the most basic form of life insurance. The cover is now almost a commodity with web-based aggregators offering quotes from all insurance for term protection.
ICICI Prudential Life appointed actuary Avijit Chatterjee said the decline can be attributed to better mortality experience in the recent past.
This is another factor, industry-watchers feel, that has worked in favour of the rich. Since such policyholders have access to quality healthcare and lead a relatively superior lifestyle, their life expectancy is high, and this translates into lower rates.
“Term insurance premium rates have started seeing a downward trend since the last three years. Over the last couple of years, they have dropped by nearly 30%," said Rahul Aggarwal, CEO, Optima Insurance Brokers. One of the reasons for this, he explained, is the increasing demand, mainly from the high net worth segment, which has inflated the volumes. "Increasing volumes are driving the rates down and lower rates, in turn, are stimulating the demand for term insurance," he added
"Over the last six months, some insurers have reduced the term insurance rates. The price reduction is limited mainly to high value policies targeted at the HNI segment, that is, people earning over Rs 1 lakh per month, who seek policies entailing a sum assured of more than Rs 25 lakh," said a senior executive with a private life insurance company.
HDFC Standard Life Insurance, for instance, has reduced the premium rates of its term plan by around 25% across different premium and age bands.

Monday, July 13, 2009

‘One rank, one pension’ for officers, too

Defence Minister A K Antony today clarified in the Lok Sabha that "one rank, one pension" recommendation of the Cabinet Secretary-led panel had been accepted by the government for jawans as well as officers.

The government has accepted recommendations of the panel on "one rank, one pension" and other related matters concerning the armed forces, the Lok Sabha was informed today.

The decision is now nearer to the goal of “one rank, one pension” demand of nearly 1.5 million personnel, Antony said during question hour.

The total financial implications on account of benefits to the personnel would be Rs 2,144 crore, the minister said.

The committee has recommended inclusion of Classification Allowance for the Personnel Below Officer Rank (PBOR) from January 1, 2006, and removal of linkage of full pensions with 33 years from the same date, he said.

The committee also recommended revision of pension of Lt Generals after carrying out a separate pay scale for them, bringing parity between pension pre and post October 10, 1997, for PBOR pensioners and further improving PBOR pensions based on award of Group of Ministers in 2006.

With regard to the separate pay commission, the minister said it had been agreed, and as and when necessary it would be set up in the future.

Antony said the government had also accepted the committee's recommendations regarding raising the pension amount for those disabled or injured in war.

"After considering all aspects of the issue, the committee made several recommendations to substantially improve pensionary benefits of Personnel Below Officer Rank and Commissioned Officers, which have been accepted by the government," the minister added.

Payment of Dearness Relief to re-employed pensioners and employed family pensioners. OM

F.No.38/88/2008-P&PW(G)
GOVERNMENT OF INDIA
Ministry of Personnel, Public Grievances & Pensions
(Department of Pension & Pensioners' Welfare)

3rd Floor, Lok Nayak Bhavan
Khan Market,New Delhi, 
dated: 9th July, 2009
OFFICE MEMORANDUM

Sub: Payment of Dearness Relief to re-employed pensioners and employed family pensioners.



The undersigned is directed to say that the grant of DR to re-employed pensioners and employed family pensionersis presently regulated in accordance with the instructions contained in this Department's OM No.45/73/97 P&PW(G) dated 2.7.1999. Consequent upon the revision in ignorable amount of pension from Rs.1500/- to Rs.4000/- in terms of DOPT OM no. 3/13/2008-Esst,(PAY-I) dated 11.11.2008, the amount of Rs.1500/- appeared in OM dated 2.7.1999 is revised as Rs.4000/-. The other conditions for grant of DR to re-employed pensioners and employed family pensioners remain the same: :

2. In so far as persons serving in the Indian Audit Accounts Department are concerned, these orders are being issued after consultation with the CAG of India.

3. This issues with the concurrence of Misnistry of Finance, Department of Expenditure vide their UO No. 132/EV/2009-Esst.(Pay II) dated 21.4.2009 and DOP&T vide their UO No.3/16/2009-Esst.(Pay II) dated 23.6.2009.

Wednesday, July 8, 2009

5% Dearness Allowance is expected for Central Govt. Employees w.e.f. 1st July 2009

Central Govt. employees and pensioners may expect a hefty rise of 5% in D.A. with effect from today, the 1st July 2009. According to the statistics of Labour Bureau, Govt. of India, All India Consumer Price Index No. has climbed up to 151 points in May 2009 in comparison to 147 in December 2008. [See the chart below.] 


With this expected rise, the total Dearness Allowance will be 27% w.e.f. 01.07.2009. It may be mentioned that the rise in Dearness Allowance effects Transport Allowance also as per the Sixth Pay Commission for the Central Govt. Employees. 


Calculation is based on All India Consumer Price Index Number for Industrial Worker based on [Base Year 2001 = 100] 



Month

Year

Base Year 
2001=100

Total

Average

App. DA

DA

May

2008

139

1613

--

--

--

June

2008

140

1623

135.25

16.84

16

July

2008

143

1634

--

--

--

August

2008

143

1634

--

--

--

Sep

2008

146

1659

--

--

--

Oct

2008

148

1673

--

--

--

Nov

2008

148

1687

--

--

--

Dec

2008

147

1700

141.67

22.38

22

Jan

2009

148

1714

--

--

--

Feb

2009

149

1728

--

--

--

Mar

2009

148

1739

--

--

--

Apr

2009

150

1751

--

--

--

May

2009

151

1763

--

--

--

June

2009

--

--

--

--

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