Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Pension Reforms
On January 1, 2004, Pension Funds have come into force in India. Government servants will have to subscribe to them. The new pension fund system is primarily drawn from the OASIS report. It proposes a phase-out of the Provident Fund scheme in order to eliminate competition for the new fund to help it grow its corpus. Slowly, the new pension scheme will completely replace all the retirement fund schemes presently available. The new system will be initiated by setting up a Pension Fund Regulatory and Development Authority (PFRDA). The immediate job at the authority's hand would be to issue licenses to Pension Fund Managers (PFMs.)
Under the new system, there would be no assured returns to the pensioners. New government employees are expected to part with 10% of their salary and Dearness Allowance (DA) to one of the PFMs. The government too will make a matching contribution. Pensioners can choose from among three pension schemes - safe, balanced and growth.
PFMs, however, would have the freedom to make investments in international markets subject to regulatory restrictions. Subscribers to the new fund will be able to exit at or after the age of 60 years by claiming the lump sum amount. However, a minimum 40% of the accumulated wealth would have to be used compulsorily to buy an annuity from an insurance company.
Bennis Shafts produces three types of golf club shafts which it sells to golf club manufacturers. Prepare ONE worksheet to answer the following questions and to determine the outc
Explain what is meant by a positive coefficient discretization in the context of valuing options using numerical PDE methods. What is the main benefit of using a positive coefficie
Post-acquisition integration In order to have constructive discussions between organisations, it's strongly recommended that all participants in process adopt a set of ground r
What are the time dimensions of the income statement, the balance sheet, and the statement of cash flows? Hint: Are they videos or still pictures? Explain. Sol. The i
The graphical method is a simple one, and is the most easily understood of the several linear programming methods. A thorough knowledge of the graphical procedure
What action(s) should be take place if analysis of pro forma financial statements reveals positive trends? Negative trends? While analyzing the pro forma statements, managers fre
What is the meaning of Deviations Deviations must be recorded and investigated regardless of the amount involved and then assess whether deviations are isolated departures or i
Clean Opinion - AUDIT opinion not qualified for any material scope restrictions nor departures from GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP). Also called UNQUALIFIED OPINION
Define the Explicit cost of capital Explicit cost of retained earnings that involve no future flows to or from firm is minus 100 per cent. This must not tempt one to infer that
In dual indexed floaters the coupon rate is a fixed rate plus the difference between two reference rates. Purchasers of these securities typically make an assumpt
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd