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  • Pensionable Age Cut: Will the age for additional pension for retired employees be reduced? know latest update


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    Pensionable Age Cut: The government has assured that the payment of additional pension is made automatically through banks and pension distribution agencies. Instructions are also issued from time to time to avoid any delay or disturbance in this.

    There has been a long standing demand to reduce the existing age limit for additional pension to retired central employees. However, the government has once again clarified its stand on this matter. The central government said that there is no plan to reduce the minimum age eligibility for additional pension to retired central employees.

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    There is no approval for reducing the minimum age limit for additional pension
    The central government has made it clear that the minimum age for additional pension will remain 80 years. In response to a question asked in the Lok Sabha, the government said that there was a proposal to increase this limit to 65 years, but it has not been approved.

    An MP asked whether the government was considering reducing the age limit to 65 years as recommended by the Parliamentary Standing Committee on Pensioners’ Grievances and, if so, sought details about it.

    In response to this question, Union Minister of State for Personnel Jitendra Singh said in the Lok Sabha that on the recommendation of the Sixth Pay Commission, the government has approved 20% additional pension at the age of 80 years, 30% at the age of 85 years, 40% at the age of 90 years, 50% at the age of 95 years and 100% at the age of 100 years.

    He said that as age increases, especially health-related needs also increase, so provision for additional pension has been made. But there is no plan to reduce the minimum age eligibility for additional pension.

    Will the rules on additional pension age change for central government employees?
    The Parliamentary Standing Committee had recommended giving additional pension from the age of 65 in 2021. The government considered it and also submitted its report in 2022. After this, the committee decided not to pursue the issue further. That is, at present the government has no plans to reduce the minimum age eligibility.

    How are central government pensioners paid?

    The government has assured that the payment of additional pension is done automatically through banks and pension distribution agencies. Instructions are also issued from time to time to avoid any delay or disturbance in this.

    How will the impact of rising inflation on pension be reduced?

    Dearness Relief (DR) is given to pensioners, which applies to both their basic pension and additional pension. Its rate is the same as that of Dearness Allowance (DA).

    Possibility of change in pensionable age in future?

    At present, the government does not intend to make any changes in this rule. But in view of the rising inflation and cost of living, the government will keep an eye on this issue. It is clear from this decision of the government that one should not expect to get additional pension before the age of 80 years. At present, Dearness Allowance is the only support for retired central employees, through which they can get some relief.

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  • Rohit Sharma likely to retire from Test cricket after Border-Gavaskar Trophy series

    India’s Test cricket captain and star batter Rohit Sharma has decided to bid adieu to the longest format in the game, according to a Times of India report.

    Rohit was seen sporting the team jersey and posing with the trophy on a Barbados beach.
    Rohit Sharma with T20 World Cup title. Photo Courtesy: BCCI X page

    Rohit is said to play his last game in Test cricket in Sydney, which will coincide with the last game of the five-match Border Gavaskar Trophy series. India is trailing 1-2, and could lose the trophy if they fail to equalise in the final game.

    The scenario, however, was very different when the series started. India, on the back of strong performances from opener Yashasvi Jaiswal, former skipper Virat Kohli and stand in captain Jasprit Bumrah, trounced Australia to take a 1-0 lead in the series. Rohit, who became a father for the second time, missed the match as he was in paternity leave.

    Ever since the captain came back, the team looked a bit out of order, even with consistent performances from several players. For example, Bumrah, Rohit’s deputy, has picked up 30 wickets in 4 matches, including three five-wicket hauls. Rohit, on the other hand has scored 31 runs in three games.

    To make matters worse, the Indian skipper promoted himself at the top of the order, which forced the in-form KL Rahul to play one slot lower at the Melbourne Cricket Ground in the fourth Test, which Indian lost.

    Rohit’s move, which has been criticised as selfish, backfired massively, as both neither the Indian skipper and Rahul failed to perform.

    Now, there’s a debate going on about his place in the playing XI for the final Test.

    The TOI report says, “Rohit would undoubtedly like to convince selectors to allow him to stay for the World Test Championship (WTC) final, should India pull off a miracle and make it there. However, if they don’t, Sydney is destined to be Rohit’s last dance.”

    While Rohit has been India’s batting mainstay in the shorter formats, even leading the country to a famous win in the ICC T20 World Cup earlier this year, his numbers have been underwhelming in white clothes.

    His Test average in 2024 was in the mid 20s. In the last 14 Tests, Rohit has scored only two centuries and an equal number of half-centuries.

    With newer players waiting in the wings and youngsters like Jaiswal and Reddy showing promise, the older players will have to make way for the newer ones, and Rohit might just be the start.

  • Author Keith Connell’s New Book How to Retire at 55 When You Want

    Author Keith Connell’s New Book How to Retire at 55 When You Want
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    Groveland, FL, October 30, 2024 — Keith Connell, a retired software engineer who had a desire to retire at fifty-five and did it, has completed his new book, “How to Retire (at 55) When You Want”: a groundbreaking guide that provides practical, straightforward strategies that empower individuals to take control of their finances and retire on their terms.

    Early in his career and schooling, author Keith Connell sought out knowledge about finances, investing, and retirement. He continually studied the subject and applied that knowledge to his own assets and has been successful retiring early. Currently, the author lives in Central Florida with his wife and two adult daughters.

    “This book is not a get-rich scheme or plan. It is a set of common-sense approaches to saving, investing, and money management that can help individuals meet their goals,” writes Connell. “Information is given in a logical, easy-to-read format where the mystery of finances is easy to comprehend.

    “Even for those who enjoy their work, this book offers advice and guidance to know when you could retire. For those who are charity-minded, information is given on being a good steward and how to maximize charitable contributions.”

  • Tracey T. Travis to Retire From The Estee Lauder Companies as Executive Vice President and Chief Financial Officer

    Tracey T. Travis to Retire From The Estee Lauder Companies as Executive Vice President and Chief Financial Officer

    July 15, 2024,New York, United States : The Estée Lauder Companies Inc. (NYSE: EL) today announced that Tracey T. Travis, Executive Vice President and Chief Financial Officer, has decided to retire, effective June 30, 2025, after more than twelve years of exemplary leadership and service at the company. A successor for the CFO role has been identified and will be named in the coming weeks. Tracey will work closely with this person to ensure a smooth and successful transition.

    “Tracey has been an invaluable business partner and a trusted advisor to me, our executives and Board of Directors, as well as a mentor and role model to many across our organization,” said Fabrizio Freda, President and Chief Executive Officer. “She has built and led a robust, integrated Global Finance & Strategy organization that has served as a valued business partner across the company and has helped to optimize delivery of our financial plans. Her financial acumen, discipline, and operational excellence have been essential to our company’s growth, and so many areas of our organization have her valuable imprint on them.”

    Since joining The Estée Lauder Companies (ELC), Tracey has led the company’s Global Finance, Accounting, Tax, Treasury, Investor Relations, Information Technology, and Strategy and New Business Development organizations. Tracey has also co-led the company’s Global Value Council and served as a member of the Executive Leadership Team and the Investment Development Committee. Tracey has also been a respected and engaging leader in her extensive work with our global investor community.

    Under her guidance, the company has enhanced its financial strength and flexibility, enabling us to further invest in our long-term growth drivers, such as innovation, digital transformation, emerging markets, talent development, and M&A strategy. Additionally, Tracey has played a pivotal role in leading and advancing the financial profile of our global brand portfolio.

    Over the last twelve years, Tracey built a robust, integrated Global Finance & Strategy (F&S) organization at ELC that serves as a valued business partner across the company, with a particular focus on cultivating talent across the organization to bring new perspectives to the finance function. Under her leadership, F&S has provided financial guidance throughout the enterprise while maximizing business and transformational opportunities, optimizing the capital structure, and supporting brand growth strategies and cash management. Tracey leaves the F&S function a transformed organization.

    Together with ELC’s senior leadership, Tracey has deeply embedded the company’s corporate strategy throughout the organization, solidifying core planning processes with an emphasis on executional excellence. Working alongside senior leadership, Tracey and her team have implemented and driven a progressive end-to-end M&A strategy and value-driven empowerment and integration, including many important strategic acquisitions and investments such as DECIEM and TOM FORD. Tracey has also led the New Incubation Ventures (NIV) team to enable the sourcing, building, and growth of the brands and business models of tomorrow.

    Tracey has helped further improve and elevate the company’s Information Technology function, strengthening its competitive edge through investments in areas such as digital tech centers around the world, embodying ELC’s global approach to technology management and innovation and enhancing the diversity of its capabilities. Tracey also served as an instrumental leader in establishing the company’s shared services capability to support the business and its growth.

    Tracey played a critical role in strengthening talent development and engagement by developing and growing ELC’s Finance & Strategy Leadership Development Program (FASLEAP), and guiding the function’s approach to identifying, training, and placing top talent. Tracey has also been a committed Global Executive Sponsor of the Women’s Leadership Network (WLN) employee resource group (ERG), where she helped further a culture of recognizing women as pioneers in the beauty industry and highlighting their creativity and ingenuity in shaping trends and redefining standards. She has been a passionate advocate for the company’s efforts across philanthropy, citizenship and sustainability, and inclusion, diversity and equity, including by championing initiatives to advance racial equity and representation within the company and the beauty industry.

    “An inspiring and visionary leader, Tracey has been deeply committed to exemplifying our values throughout her years of dedicated service to our company,” said William P. Lauder, Executive Chairman. “Tracey has had a remarkable impact on driving our business forward by leading our portfolio strategy, but also by developing our talent, cultivating a culture of inclusion and continued learning, and advancing initiatives to foster a more diverse and equitable workplace and marketplace.”

    Tracey has been honored with numerous industry awards and accolades throughout her distinguished career. She received a Best CFO award by Institutional Investor magazine, was recognized as one of the “Top 100 African Americans in Corporate America,” as well as “The Most Powerful Women in Corporate America” by Black Enterprise magazine. In 2019, she was honored with an Achiever Award by Cosmetic Executive Women. Tracey currently serves as a director on the Board of Accenture PLC and the Board of Meta Platforms Inc.


    Praveen

  • Big News for these Employees! The government is preparing to retire these employees before time, check details

    New Delhi, Modi government has began to crack down on careless employees. Unhappy with the non-compliance of directions on time, the middle has requested all ministries to overview the work of employees on time in order that those that carry out poorly might be retired before time.

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    In an order, the Department of Personnel and Training (DOPT) requested the involved ministries to direct the Public Sector Undertakings (PSUs), banks, autonomous establishments and statutory our bodies below their administrative management to overview the employees. The order mentioned that the efficiency of government employees must be used to discover out whether or not their work is right or not. If they aren’t working within the curiosity of the nation, then they need to be retired before time.

    This order has been issued to the secretaries of all central government departments. It has been mentioned that the executive ministries and departments ought to comply with this and submit its report to DoPT as quickly as attainable. The instruction mentioned, it has been discovered that the foundations usually are not being adopted within the departments of some ministries. This is inflicting delay in figuring out government employees for overview below the related provisions of Fundamental Rules (FR)-56 (J) / (I) and Rule 48 of Central Civil Services or CCS (Pension) Rules (now, amended as Rule 42 of CCS (Pension) Rules, 2021).

    Also Read: EPS Withdrawal Rules: Rules for withdrawing cash from EPS modified, check rule instantly

    These guidelines decide the coverage for overview of government employees and their obligatory retirement. This hastens the government work. DoPT mentioned in its order dated June 27, ministries/departments have been requested to instantly determine the employees for overview below the related provisions of the essential/pension guidelines. These employees must be reviewed and the report must be shared instantly. Accordingly, all ministries and departments have been requested to submit the report by the fifteenth of each month from July.

     

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  • 4 Signs That It’s Time For You To Retire

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    Retirement is probably going probably the most needed milestones for many individuals. After years of pursuing our careers, it might lastly be time to carry up your work coat and luxuriate in further free time. However, it’s moreover the mark of the ending of a significant part of your life. 

    Regardless of whether or not or not you’re keen about your new freedom or not, the actual fact stays that it might be scary starting a model new chapter!  So, how are you going to make sure if it’s time to be able to retire or not?

    Sometimes the indications are there, nevertheless we’re not sure whether or not or not that’s the case. To allow you, listed below are some pink flags that it’s most likely time to be able to (*4*)

    Your Finances Are In Order

    The first sign of your retirement readiness will seemingly be how healthful your funds are. Do you have enough retirement funds put aside to have the power to cease working your job? If you should have a significant amount of economic financial savings and earnings sources to keep up your current life-style with out having to work, then that’s it! This is your second to retire and (*4*).

    You’re No Longer Satisfied With Your Work

    At some stage, you won’t uncover your job satisfying anymore. Whereas when chances are you’ll want felt extreme pleasure ending up your duties, now it seems like further of a burden than a passion. This may end up in poor effectivity in your work, to not level out an elevated probability of despair.

    When you not need to pursue your job, then it will impact your psychological effectively being, your relationships with others, and even end in burnout. If you start to find you should have fully no success in your job anymore, then it’s a giant pink flag that retirement is also in order.

    Need For More Personal Time

    The nearer you get to retirement age, the additional you would possibly find yourself wanting to do stuff you haven’t had time to do until now. If work is starting to essentially really feel akin to you’re incapable of getting enjoyable with life to the fullest, then it may be a sign that retirement could very effectively be the appropriate various for you. 

    Retirement can provide the correct various to pursue new hobbies, spend further time with people you are eager on, and even journey! This is why retirement is so needed for subsequently many people as a result of it’s lastly a second that you could be commit totally to your self with out having to position your children, occupation, or completely different obligations sooner than your private needs.

    The Economy is Right

    If you are keen about retiring and in addition you uncover that the financial system is the place it should be, which implies that your retirement monetary financial savings could very effectively be the place they need to be too. If the stock market is at an all-time extreme and your investments could return giant bucks, then focus on to your financial advisor about whether or not or not now may very well be the second to cash in and retire for good.


    Neel Achary

  • Accenture rejigs top India leadership; Chairperson Rekha Menon to retire [details]

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    Accenture on Friday announced new appointments to its leadership team in India, saying that Rekha M. Menon, Senior Managing Director and Chairperson for Accenture in India, will retire as of June 30 after serving for 20 years at the company.

    Ajay Vij has been appointed to the newly-created role of Country Managing Director, and Sandeep Dutta takes over as the lead for its India Market Unit, the company said in a statement.

    The primary responsibilities of the Chairperson will now be undertaken by the new appointees in the country.

    Accenture rejigs top India leadership, Chairperson Rekha Menon to retire

    Accenture rejigs top India leadership, Chairperson Rekha Menon to retireIANS

    “Menon helped build a strong foundation for Accenture in India across many aspects of our business and leaves behind an outstanding legacy of accomplishments and impact for our clients, our people and our communities,” said Leonardo Framil, Accenture’s CEO for Growth Markets.

    During her 20-year career at Accenture, Menon has held various roles across the company’s growth markets.

    “I would also like to congratulate Ajay and Sandeep on their well-earned appointments and new responsibilities,” Framil added.

    Rekha M. Menon

    Rekha M. Menon, Chairman of Accenture, IndiaYouTube- screengrab

    Vij will expand his current responsibilities as the Corporate Services and Sustainability lead for India to provide overall leadership and drive coordinated decision-making for key company priorities.

    Dutta will now lead Accenture’s India Market Unit, serving as our India business lead responsible for driving business and operations in the domestic market, focusing on growth, market differentiation, and clients, said the company.

    Accenture currently has 738,000 people serving clients in more than 120 countries.

    (With inputs from IANS)