Bharat Pensioners Samaj

Senior Citizens Should Get Meaningful Pension: SC - Edited By  IANS  |   By  IANS   On  Dec 13, 2018 - 19:09:25 Pic Credit- Scroll.in New Delhi: The Supreme Court on Thursday said that senior citizens should get a meaningful pension to live with dignity, and not just the equivalent of Rs 92 at current value. The apex court said the State was “obligated to ensure” that the right to live with dignity that includes reasonable shelter, health care, clothing and meaningful pension for elderly people without any means was “not only protected but are enforced and made available to all citizens”. Noting that in real terms the value of Rs 200 being given as pension to elderly people since 2007 today stands at about Rs 92, the bench of Justice Madan B. Lokur and Justice Deepak Gupta in their judgement said the provision for basic necessities which includes, nutrition, clothing and shelter can be made only if the elderly are provided with some pe...

Pension is described in section 60 of the CPC and section 11 of the Pension Act as a periodical allowance or stipend granted on account of past service, particular merits etc. There are three important features of 'pension'. Firstly, pension is a compensation for past service. Secondly, it owes its origin to a past employer-employee or master-servant relationship. Thirdly, it is paid on the basis of earlier relationship of an agreement of service as opposed to an agreement for service. This relationship terminates only on the death of the concerned employee. Pension received from a former employer is taxable as 'Salary'. Hence, the various deductions available on salary income, are also available to pensioners. Pension to officials of UNO is exempt from taxation. Family Pension Family pension is defined in Section 57 as a regular monthly amount payable by the employer to a person belonging to the family of an employee in the event of his/her death. Pension and fam...

Pension is described in section 60 of the CPC and section 11 of the Pension Act as a periodical allowance or stipend granted on account of past service, particular merits etc. There are three important features of 'pension'. Firstly, pension is a compensation for past service. Secondly, it owes its origin to a past employer-employee or master-servant relationship. Thirdly, it is paid on the basis of earlier relationship of an agreement of service as opposed to an agreement for service. This relationship terminates only on the death of the concerned employee. Pension received from a former employer is taxable as 'Salary'. Hence, the various deductions available on salary income, are also available to pensioners. Pension to officials of UNO is exempt from taxation. Family Pension Family pension is defined in Section 57 as a regular monthly amount payable by the employer to a person belonging to the family of an employee in the event of his/her death. Pension and famil...

Issue of Pension Payment by Banks: New Checklist for audit of Systems and Controls for conduct of government bankingRESERVE BANK OF INDIA www.rbi.org.in RBI/2016-17/271 DGBA.GAD.No.2646/31.02.007/2016-17 April 7, 2017 All Agency Banks Dear Sir/Madam, Systems and Controls for conduct of government banking Please refer to our Master Circulars DGBA.GAD.No.2/31.12.010/2015-16 dated July 1, 2015 on Conduct of Government Business by Agency Banks - Payment of Agency Commission and DGBA.GAD.No.H-1/31.05.001/2015-16 dated July 1, 2015 on Disbursement of Government Pension by Agency Banks that, inter alia, deal with Systems and Controls in agency banks for conduct of government banking.   2. In addition to existing instructions, agency banks may ensure that internal/concurrent audit at bank branches verifies whether government business is being conducted as per rules and regulations prescribed by government/RBI. Accordingly, the internal/concurrent audit at bank branches may also exami...