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The just-announced <keyword id="22906567" type="General" weightage="100" keywordseo="Unified-Pension-Scheme" source="keywords">Unified Pension Scheme</keyword> for central <keyword id="19933272" type="General" weightage="20" keywordseo="government-employees" source="keywords">government employees</keyword> will be available only for those who are currently subscribers of the New Pension Scheme (NPS), including retirees. The new scheme guarantees employees 50% of their average basic pay over the last 12 months before retirement, as a pension for a minimum qualifying service of 25 years against a market returns linked payout under the NPS. According to the scheme approved by the Union Cabinet, the pension will be proportionate for a lesser service period of up to a minimum of 10 years. Also, assured pension of Rs 10,000 per month on superannuation after a minimum of 10 years of service will be provided. The scheme has been brought out to address the concerns of government employees over NPS, which came into effect from January 1, 2004. Under the <keyword id="3246232" type="General" weightage="20" keywordseo="Old-Pension-Scheme" source="Orion">old pension scheme</keyword> (OPS), effective before January 2004, employees got 50 % of their last drawn basic pay as pension. Unlike the old pension scheme, UPS is contributory in nature, wherein employees will be required to contribute 10% of their basic salary and dearness allowance while the employer's contribution (the central government) will be 18.5%. Under the NPS, the employer contribution is 14%, and the employee contribution is 10%. However, the eventual payout depends on the market returns on that corpus, mostly invested in government debt. Employees, under the OPS, were not required to make any contribution. They, however, contributed to the General Provident Fund (GPF). The accumulated amount, along with interest, was paid to the employee at the time of retirement. As the NPS was less attractive than the OPS, several non-BJP-ruled states decided to go back to the old pension scheme, which offered a DA-linked benefit. This prompted the Centre to constitute a committee in April 2023, under former Finance Secretary and now Cabinet Secretary-designate TV Somanathan to suggest improvement in the NPS architecture. Fulfilling the long pending demands of government employees ahead of assembly elections in Haryana and Jammu and Kashmir, the Union Cabinet on August 24 approved the UPS, which will provide assured pension to 23 lakh eligible central government employees. Those opting for the UPS will not be able to switch back. The UPS will put an additional burden of Rs 6,250 crore on the exchequer per year. The expenditure will vary every year according to variations in the number of employees. In addition, there will be an arrear of Rs 800 crore that has to be paid under the National Pension System (NPS) to employees retiring before March 31, 2025. If these retirees opt for UPS, they will receive arrears. "UPS is being implemented by the Central Government, benefitting 23 lakh central government employees," Information &amp; Broadcasting Minister Ashwini Vaishnaw said on X on Sunday. If states also adopt the UPS architecture, a total of over 90 lakh government employees, who are presently on NPS, would be benefitted, he added. On Sunday, Maharashtra, where assembly elections are due later in the year, became the first state to announce the adoption of the UPS for its employees. RSS-affiliate Bharatiya Mazdoor Sangh (BMS) said though the government has attempted to overcome the shortcomings of the NPS, there are still some issues compared to OPS. BMS will decide its future course of action only after a detailed study of the UPS after it is notified. All India Trade Union Congress (AITUC) said it is nothing but an extension of the existing NPS. The trade union expressed apprehensions that UPS will have a lot of aberrations once implemented. AITUC reiterated that it will continue to fight for the restoration of the non-contributory OPS. ICRA Chief Economist Aditi Nayar said assured pensions will add to the government's committed expenditure in the future while reducing the uncertainty for employees. "This will have to be built into the fiscal consolidation roadmap going ahead," Nayar added. The UPS reflects a thoughtful approach to long-term social security, addressing concerns about the adequacy and sustainability of pension benefits in a rapidly changing economic landscape, said Shardul Amarchand Mangaldas &amp; Co Partner Dorothy Thomas. "This move signals the government's commitment to providing robust support for its workforce, enhancing financial stability for millions of government employees across the country," Thomas said.

Over 23 lakh govt employees under NPS get option to choose unified pension scheme

July's here, and as we inch closer to the budget, which is set to be presented around the latter half of July, there is much talk about how it will affect our pockets. Reports suggest the government is considering raising the <keyword id="20429578" type="General" weightage="20" keywordseo="standard-deduction" source="keywords">standard deduction</keyword> threshold from existing Rs 50,000 to Rs 1,00,000, amidst other things. The most common wish for a salaried employee is to reduce the income tax rates across all slabs, but at the moment, this seems unlikely. That aside, we decode the common man's wish list and what they look forward to in terms of <keyword id="22225988" type="General" weightage="20" keywordseo="income-taxes" source="keywords">income taxes</keyword> as the Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> drafts the budget. <h2>Wish 1: Raise the standard deduction to Rs 1 lakh</h2>A standard deduction is a fixed amount that you can deduct from your taxable income right away, to reduce your overall tax liability. You do not need to furnish any proofs for this amount. Currently, this stands at Rs 50,000, under both old and new tax regimes. Raising this threshold to Rs 1,00,000 will mean more disposable income in your hands. And as per the policy experts, this is the most likely change that we can expect under the new budget. <h2>Wish 2: Increase the <keyword id="20228341" type="General" weightage="20" keywordseo="basic-exemption-limit" source="keywords">basic exemption limit</keyword> in new tax regime</h2>As per EY's pre-budget expectation report, an increase in the basic exemption limit from the present Rs 3,00,000 to Rs 5,00,000 would immensely benefit the common man. Earlier, this limit was set at Rs 2,50,000. Note that unless you specifically opt for the old regime, the new tax regime is considered as your default choice starting 2023. If your annual income is equal to, or falls below this basic exemption limit, you do not have to pay any income tax. <h2>Wish 3: Increase tax-free limit of LTCG gains </h2>At present, if you sell any equity mutual fund unit or share after more than 12 months of holding it, you'll have to pay a 10% long-term capital gains (LTCG) tax. However, within one financial year, long-term capital gains below Rs 1,00,000 are tax-exempt. As EY's report notes, raising this extant tax-free limit to Rs 2 lakh would be beneficial, especially in boosting long-term investing sentiment in the country. But will this come true? Only Nirmala Sitharaman knows! <h2>Wish 4: Consider some tier-2 cities as metros for HRA exemption </h2>Residents of Gurugram, Noida, Bengaluru, listen up! HRA, or House rent allowance is a crucial component of our salary, and hence, our tax planning as well. You can get HRA exemption on the lowest amount amidst these 3: 1. Actual HRA received 2. 50% of salary for metro cities (Delhi, Mumbai, Kolkata, Chennai) 3. 40% of salary for non-metro cities 4. Rent paid- 10% of salary But its no secret that residents of nearby cities like Noida, Gurugram, Faridabad, or rapidly developing urban hubs like Pune, Ahmedabad, Ghaziabad, Hyderabad, Bengaluru, Thane bear the brunt of sky-high residential rents that takes a huge toll on their monthly income. Yet, they cannot claim 50% of their salary for HRA exemption. Since these cities has been classified as a non-metro, residents can claim a maximum of 40% of their salary as exemption. In case rent exceeds Rs 1,00,000 annually, you are also required to furnish the PAN details of landlord, along with a formal rental agreement. Consider this. You live in Delhi, and have an annual income of Rs 10,00,000. For HRA purposes, you can claim exemption of up to Rs 5,00,000, since Delhi is considered a metro. But, if you live in Ghaziabad, or Noida, the limit available to you sharply falls down to Rs 4,00,000. This budget, as reports note, considering these cities as metros for tax purposes would provide some relief to the common man's pocket. Per a recent report by ANAROCK research, the top 7 cities in the country (Mumbai metropolitan region, Hyderabad, Bengaluru, Pune, Delhi NCR, Chennai and Kolkata) saw an average price rise between 13-39% on a yearly basis. In fact, it was Hyderabad recorded the highest yearly price rise in residential property last quarter, jumping by as much as 39%. <h2>Wish 5 : Enhance exemption limits under the old regime</h2>The list is endless, but so are our wishes! Experts are also suggesting an enhancement in the existing limit for deduction towards interest on housing loan for self-occupied house. From its present limit of Rs 2 lakh, it should be taken to Rs 3 lakh. Also, the Rs 2-lakh cap on set off of house property loss against other heads in the same year should be done away with. For senior citizens, there should also be greater clarity on how funds received from <keyword id="19919089" type="General" weightage="20" keywordseo="nps" source="keywords">NPS</keyword> (National Pension System) via the systematic lumpsum withdrawal plan should be taxed. Well, we can only hope some, if not all of these wishes come true when finance minister presents the union budget in the parliament this month.

Budget 2024: Increase standard deduction, exemptions and more, an aam aadmi's wishlist

India's National Pension System (NPS) has bucked the downtrend triggered by Covid-19 outbreak and the subsequent nationwide lockdown to contain it. During the first three weeks of April, the scheme along with the <keyword id="2746514" type="PERSON" weightage="20" keywordseo="Atal-Pension-Yojana">Atal Pension Yojana</keyword> (APY) has seen an upsurge in new enrolments and an increase in assets under management (AUM) of these programmes. ALSO WATCH: The CEO of mutual fund house explains how to invest your savings in the post-coronavirus world <div type="Youtube" id="R0KmfIsR_90" title="How To Divide Your Savings Post Coronavirus" thumbUrl="https://i.ytimg.com/vi/R0KmfIsR_90/mqdefault.jpg"></div> In financial parlance, NPS and APY are Central government backed schemes which are administered by Pension Fund Regulatory and Development Authority (PFRDA). The PFRDA is the statutory authority established by an enactment of the Parliament, to regulate, promote and ensure orderly growth of the NPS and the pension schemes to which this Act applies. <div type="Article" hostid="261" msid="75468072" title="Here is a list of top 25 stocks that qualify for ‘Ten Baggers’, according to Ambit" mstype="2" mssubtype="0"></div> The NPS was initially notified for Central government employees joining service on or after January 1, 2004 and subsequently adopted by almost all State Governments for its employees. The NPS was extended to all citizens of India on a voluntary basis from May 2009 and to corporates in December 2011 and to Non-Resident Indians in October 2015. "There has been a spark... Almost more than 33,000-34000 people have joined during these first three weeks of April. The 'Total Assets Under Management' has also seen a record rise of Rs 12,000 crore," PFRDA's Chairman Supratim Bandyopadhyay told IANS. According to Bandyopadhyay, the corporate sector has shown a keen interest to get their employees enrolled into the NPS scheme. Similarly retail customers of the scheme have also grown. "We have seen a healthy response from the corporate customers. There are at least seven (companies) in the pipeline. They have either already got their board approval or in the process of getting the approval to subscribe," he said. Currently the PFRDA administered system has seven fund managers. "There has been a massive value addition in the stock prices during this time as we are able to invest in really good quality stocks at very reasonable prices," he said. On the impact of Covid-19, he said: "Till now we have not seen any redemption pressure. In fact, there has been negligible redemption from both the scheme." "In APY, we have made provisions that no automatic deduction from the accounts of subscribers happen for three months up to June." While the APY is a pension scheme focused on the unorganised sector workers, the NPS is a voluntary, defined contribution retirement savings scheme. Besides the NPS, some mutual funds and insurance companies also offer pension plans, which are not under the jurisdiction of PFRDA. Apart from this, the normal retirement plan options include EPFO, while retirement gratuity is offered by employers to their workers and employees. As of March 31, 2020, the combined total AUM of NPS and APY stood at Rs 4.17 lakh crore. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/irctc-share-price-has-jumped-30-in-april-so-far-despite-the-lockdown-thats-halted-trains-ticketing-and-even-rail-neer-sales/articleshow/75425845.cms" data-type="tilCustomLink" target="_blank">IRCTC share price has jumped 30% in April so far despite the lockdown that’s halted trains, ticketing, and even Rail Neer sales</a> <a href="https://www.businessinsider.in/personal-finance/news/a-personal-finance-expert-answers-the-most-troubling-questions-about-franklin-templeton-mutual-funds/articleshow/75348506.cms" data-type="tilCustomLink" target="_blank">A personal finance expert answers the most troubling questions about Franklin Templeton mutual funds</a> <a href="https://www.businessinsider.in/business/corporates/news/titans-sales-to-remain-muted-for-the-next-2-years-as-an-impact-of-coronavirus-lockdown/articleshow/75404925.cms" data-type="tilCustomLink" target="_blank">Without weddings and fewer Indians in a celebratory mood, Titan’s sales to remain muted for the next 2 years</a>

India's small savers parked over a $1.5 billion in pension schemes spooked by the stock market carnage in April

<ul class="summary-list"><li><keyword id="11910868" type="UNKNOWN" weightage="60" keywordseo="philadelphia" source="Orion">Philadelphia</keyword>'s district attorney, <keyword id="14120182" type="UNKNOWN" weightage="60" keywordseo="larry-krasner" source="Orion">Larry Krasner</keyword>, sat down for an <keyword id="11905869" type="UNKNOWN" weightage="60" keywordseo="interview" source="Orion">interview</keyword> with Insider.</li><li>The recently reelected prosecutor addressed criticism he's faced from Republicans and police.</li></ul>Sixteen people a day were shot in Philadelphia last year. By the end of 2021, more than 560 residents of the city had been killed.It's a <a href="https://www.nytimes.com/2022/01/20/opinion/murder-rate-police-homicide.html">national trend</a>: a spike in <keyword id="11964076" type="UNKNOWN" weightage="60" keywordseo="gun-violence" source="Orion">gun violence</keyword> that began with the pandemic and has ravaged cities in red, blue, and battleground states. As society locked down, Americans lost jobs and access to community supports and healthy diversions. Personal conflicts leaped from social media to brawls on the street, and record gun sales meant the participants were more likely to be armed — encouraging yet more people to go out and get a firearm.The reasons behind the spike in violence across the US are complex. In conservative media, though, one villain is obvious and comfortably partisan: the progressive prosecutor. And in Pennsylvania, that means Larry Krasner. Krasner is an outsider. The former criminal-defense attorney did not come up through the city's Democratic machine, having held no previous elected office, unlike his predecessors over the past several decades. He's also a committed reformer. Since taking office as district attorney in 2018, he's slashed probation sentences, ended the prosecution of sex work and cannabis offenses, and aggressively pursued cases against police officers accused of misconduct. His Conviction Integrity Unit has <a href="https://data.philadao.com/Exonerations.html?utm_source=Main+Media+List&amp;utm_campaign=b9cba6c954-EMAIL_CAMPAIGN_2020_07_22_01_40_COPY_01&amp;utm_medium=email&amp;utm_term=0_3be4269e47-b9cba6c954-19100917">exonerated</a> about two dozen people his predecessors convicted.He has, at times, been his own worst enemy. In December, Krasner insisted that the City of Brotherly Love was not experiencing a "crisis of lawlessness," citing the fact that many nonviolent crimes had indeed decreased. It was a gift not only to the likes of Fox <keyword id="11893589" type="UNKNOWN" weightage="100" keywordseo="news" source="Orion">News</keyword> — which ran the chyron "<a href="https://video.foxnews.com/v/6286044765001">Philly DA Downplays Crime Despite Record Killings</a>" — but also Krasner's critics within the local Democratic Party. The former mayor, Michael Nutter, took to the pages of The Philadelphia Inquirer to decry the top prosecutor's "<a href="https://www.inquirer.com/opinion/commentary/larry-krasner-michael-nutter-philadelphia-violence-20211207.html">white wokeness</a>."Republicans, meanwhile, have been in a competition to see who can be more anti-Krasner. In January, the head of the state Senate, Jake Corman, called for the legislature to remove Krasner from office. One failed candidate in the recent GOP gubernatorial primary proposed holding a statewide referendum that would allow the governor to appoint a replacement district attorney. "It is nothing more than a new version of the Southern strategy," Krasner said during an interview earlier this year at his office over a lunch of soup, potato chips, and a Diet Coke, referring to President Richard Nixon's appeal to a white majority frightened by scenes of civil unrest in the nation's cities. "It worked before. They've read their Republican history. They're saying 'big cities, lawless,' except all the big cities they're talking about are very Democratic and have huge Black and brown populations."In his view, the coded language of today is more subtle than that of the late 1960s. Instead of directly singling out minorities, his critics go after progressive prosecution, Krasner said."I think politically, in many ways, it represents a good strategy," Krasner said. But, he added, it's "really about Black people. It's not about me."<h2>A controversial plea deal feeds attacks</h2><div type="image" title="Police tape in front of cop car" height="3120" width="6240" msid="92019683" hostid="261"></div>While Krasner might be an accomplished attorney, he was never much of an administrator, which has, at times, provided ammunition to his critics. After taking office, he was eager to replace experienced prosecutors with young lawyers who may not have had much trial experience. And in one episode, the DA's office itself acknowledged that an error by a new prosecutor had created a public-relations disaster.In 2018, just months into Krasner's tenure, his office reached a plea deal with Jovaun Patterson — who was accused of shooting and nearly killing a Cambodian immigrant with an AK-47 during a botched robbery of a corner store — that would have allowed him to serve a minimum of 3 ½ years in state prison and a maximum of 10 years. The victim was not informed of the relatively lenient sentence.Facing backlash, the DA's office soon announced that the plea agreement had not been approved by a supervisor. It also tried, without success, to have it thrown out. To Krasner's opponents, it had all the markings of a bleeding-heart liberal coddling violent felons. Then-US Attorney William McSwain, a Trump appointee, stepped in to <a href="https://www.inquirer.com/news/jovaun-patterson-ak-47-shooting-sentencing-william-mcswain-larry-krasner-20200813.html">pursue federal charges</a>, accusing the DA's office of having "sent a message that violent crime has little consequences." Patterson was ultimately sentenced to 14 years in federal prison for assault and attempted-robbery convictions.At the very least, the Patterson incident suggested that Krasner led a DA's office that was not functioning as a smooth, cohesive unit.Nearly four years later, Krasner insisted that while his office is younger, it's also more ethical. Carlos Vega, one of the prosecutors he fired, was involved in the prosecution of Anthony Wright — a man who was wrongfully convicted of rape and murder. In 2013, DNA evidence was presented linking another man to the crime. Instead of freeing him, Philadelphia's previous DA, Seth Williams, who claimed to be a reformer, <a href="https://www.businessinsider.com/former-philadelphia-prosecutor-accused-of-lying-about-anthony-wright-case-2021-4">decided to try Wright again</a>, a case that Vega assisted with in court. Wright was found not guilty and freed, with jurors wondering why he was even being prosecuted.Krasner cast that as emblematic of justice in the city before he came along. "If the point is you should keep people around who lie, cheat, and steal because the only thing that matters is winning, even if the person is innocent, well, maybe they got a point," Krasner said of prosecutors like Vega. "But that's not justice. And that's not my obligation. My obligation was to actually bring in people who had a moral compass."But it's not just people like Vega who have left the DA's office in recent years. In December, <a href="https://www.inquirer.com/news/philadelphia-district-attorney-da-larry-krasner-staff-turnover-20211222.html">The Philadelphia Inquirer reported</a> that more than 70 lawyers who Krasner himself hired had quit. Some who spoke with the paper cited burnout from an unsustainable workload and worsening morale in the office. Overall, more than 260 attorneys left during his first four-year term.<h2>Clashes with police</h2><div type="image" title="Police walking by boarded up building" height="2250" width="4500" msid="92019684" hostid="261"></div>Any successful district attorney requires not just a team of competent trial attorneys but also a working — if not necessarily "warm" — relationship with the police. At the leadership level, at least, that exists in Philadelphia. But there's also a fundamental disagreement between police and prosecutors, as exposed by a <a href="https://phlcouncil.com/wp-content/uploads/2022/01/100-Shooting-Review-complete.pdf">recent city report</a> examining gun violence in the city. The police department, led by Commissioner Danielle Outlaw, insists there ought to be an "equal focus" on shootings and illegal gun possession, while the DA is adamant that there is not a correlation between the two. "If illegal gun possession was a good predictor of that, then I would probably agree with the commissioner," Krasner said. "It's actually a terrible predictor of that."In a recent report, Krasner's office said the focus on illegal gun possession, at least in cases involving nonviolent offenders with no felony convictions, was about singling out people of color."Our legislature's primary interest is incarcerating Philadelphians," <a href="https://phlcouncil.com/wp-content/uploads/2022/01/100-Shooting-Review-complete.pdf">the report</a> said, "most of them Black and brown."The shootings themselves deserve the most attention, Krasner said. And there are plenty of them to solve: <a href="https://controller.phila.gov/philadelphia-audits/mapping-gun-violence/#/?year=2022&amp;map=10.96%2F39.98296%2F-75.15135">As of May 22</a>, more than 830 people had been shot in Philadelphia this year, 166 of them fatally. "At the point where you take a gun, point it at another person to pull the trigger, whether you kill them or not, there is an accounting — there is a reckoning; that is a heinous and terrible act," Krasner said. "That's exactly the kind of really serious crime that we should focus upon."John Pfaff, a professor at Fordham Law School, believes Krasner is on to something. While some who are arrested on a charge of illegal gun possession intend to use that weapon in a violent crime, the strategy of focusing on illegal possession will pull many who have no such intention into the criminal-justice system, derailing lives and perpetuating distrust in police, he argued in a recent <a href="https://slate.com/news-and-politics/2022/02/what-eric-adams-gets-wrong-about-stopping-gun-violence.html">article for Slate</a>."Ultimately, these flawed models encourage police to cast broad nets that will end up locking up thousands of people just to prevent dozens of future shootings, imposing significant human and social — and moral — costs that could overwhelm the benefits of such detention," Pfaff wrote.Krasner insists the fight over guns is all about <keyword id="11893346" type="UNKNOWN" weightage="60" keywordseo="politics" source="Orion">politics</keyword>."The same thing is happening in basically all the major cities where there are progressive prosecutors," he said. "We're not talking too much about the actual gun violence. We're going to talk all day long about the guns. And there's a lot of reasons for that. You can control the number of gun arrests you get."Krasner added: "Stop car after car after car after car. In a city where there are more guns than people, you're going to find some guns. You can gin up a ton of gun arrests, sometimes with all kinds of illegal searches that will invalidate prosecution."You can harvest guns. I mean, that's not hard to do. What's hard to do is to solve shootings — and to solve fatal shootings. It's a more difficult task."Christopher Herrmann, a former crime analyst at the New York City Police Department who is now an assistant professor at John Jay College of Criminal Justice, tends to agree. Like in Philadelphia, "there's so much pressure right now here in New York City to take illegal guns off the street," Herrmann said. And they should be taken off the street, he added."But I think a lot of people just equate — you know, if we have a 30% increase in guns off the street that equals a 30% decrease in the number of shootings and stuff like that," he said. "And that's just not how it happens."<h2>'Legit cops hate dirty cops'</h2><div type="image" title="AP_19037634391936" height="1069" width="2138" msid="92019686" hostid="261"></div>Police officers are generally less likely to engage in overtly illegal behavior to secure an arrest than in the past. That, at least, is Krasner's read on declining clearance rates — the number of homicides committed in a year compared to the number of homicides that have resulted in an arrest. In the 1980s, the clearance rate <a href="https://jacobdkaplan.com/crime.html#state=Pennsylvania&amp;agency=Philadelphia%20Police%20Department&amp;category=murder&amp;rate=false&amp;monthly=false&amp;checkbox_1=false&amp;checkbox_2=true&amp;checkbox_3=false&amp;checkbox_4=false">was over 80%</a>; now it's <a href="https://medium.com/philadelphia-justice/clearing-up-clearance-rates-ff87cc33a31a">less than 50%</a>.A <a href="https://whyy.org/articles/krasner-finds-horrendous-abuses-of-power-among-cops-prosecutors-in-special-report/">2021 report</a> from his office said that in the past police sometimes engaged in "egregious misconduct" to ostensibly solve a case, such as intimidating or bribing supposed witnesses to give testimony the police wanted. Krasner said there are still holdovers from "the Frank Rizzo era" of the 1970s, a reference to the mayor and former police chief who oversaw a department that, at one point, <a href="https://www.inquirer.com/news/philadelphia-frank-rizzo-police-violence-legacy-shootings-20200603.html">shot one civilian each week</a>, The Philadelphia Inquirer reported in 2020. Some of these officers are themselves criminals in the eyes of the DA. Take Joseph Bologna. In 2020, Krasner's office pursued charges against the former police commander — who was fired by the department — after video emerged of him striking a Temple University student during a racial-justice protest.While prosecutors and outraged members of the public saw an assault, Bologna's defenders characterized it as an attack on police."This is another attempt by DA Krasner to railroad a highly decorated and well-respected member of the Philadelphia Police Department," John McNesby, the president of the local chapter of the Fraternal Order of Police, <a href="https://www.inquirer.com/news/philly-police-joseph-bologna-assault-protests-20210831.html">said</a> at the time.The war of words between McNesby and Krasner has been constant — and, in some ways, advantageous for a district attorney eager to cast his opponents as relics of a with-us-or-against-us era of abusive policing.That said, McNesby doesn't speak for all or even most police officers, Krasner said. Associations for Black and Latino officers, for example, endorsed the DA's reelection campaign."Legit cops hate dirty cops — that's been my experience, over and over," Krasner said.Last year, police arrested suspects in only <a href="https://medium.com/philadelphia-justice/clearing-up-clearance-rates-ff87cc33a31a">about one-third</a> of homicide cases in Philadelphia, according to the DA's office. It took an average of 35 minutes for an officer to respond to a 911 call, according to an <a href="https://www.inquirer.com/news/philadelphia-police-911-calls-response-time-20220215.html">analysis by The Inquirer</a>, four minutes longer than in the prior year. And the number of police claiming to be too injured to work has <a href="https://www.inquirer.com/news/a/philadelphia-police-injury-claims-heart-lung-abuse-20220201.html">more than doubled</a> since Krasner was elected, with 14% of the city's law-enforcement officers collecting a tax-free salary while at home on disability — or, The Inquirer found, working second jobs.Forty years ago, Philadelphia police engaged in a "<a href="https://www.csmonitor.com/1980/0207/020728.html">work slowdown</a>" to protest budget cuts. The police have not been defunded — its $729 million slice of the city's budget is second only to pensions — but morale, here as elsewhere, is down in the wake of the 2020 protests against killings by law enforcement.Could history be repeating, this time with police protesting Krasner's prosecution of their fellow officers?<div type="image" title="Larry Krasner speaking to reporter" height="5504" width="8256" msid="92019687" hostid="261"></div>Herrmann, the former NYPD analyst, told Insider the 2020 social-justice protests in the wake of George Floyd's killing, and the increased distrust of police since, has influenced morale in departments across the country and, consequently, their ability to solve crimes. When there's a shooting, for example, eyewitnesses may be less willing to cooperate with the police investigation. Police, in turn, could blame the community. When the crime isn't solved, they may blame each other.But, Herrmann said, work slowdowns or stoppages ("the infamous 'blue flu,' we call it") tend to "last a couple weeks or maybe a couple months, at most." Those who haven't left the force, he added, may well be deciding not to give it their all, worn out by the pandemic, the ensuing rise in violent crime, and increased criticism of law enforcement as an institution."That's happening in a lot of cities now, which is: the distrust and the lack of faith — and the lack of cooperation, maybe we'll even call it — between the police department and the prosecutor's office," Herrmann said.Each side accuses the other of having the wrong priorities, with the department wanting to focus more on gun-possession cases and Krasner saying the department has underinvested in modern forensic technology that could help solve more cold cases."There seems to be a lot more riffs," Krasner said. Krasner said he didn't believe that such riffs could have led to police in his city to consciously do their jobs poorly as a means of expressing displeasure with his office."That is one of the most awful and cynical things I've ever heard, actually, because that would be criminal conduct," Krasner said when asked about the possibility. "Wouldn't it?"He continued: "If that is true — and I'm not saying it is true — but if that is true, then what you are suggesting is a lot worse than disinterest in highly effective modern methods," he said. "What you're suggesting is that they want crime to win so that they can go back to no accountability — and maybe more compensation.""And," he said, "that's what criminal organizations do."Have a news tip? Email this reporter: <a href="mailto:cdavis@insider.com">cdavis@insider.com</a>.

Progressive prosecutor Larry Krasner is taking on gun violence and ‘dirty cops’ in Philadelphia

Contributions made to the Atal Pension Yojana (<keyword id="2748077" type="UNKNOWN" weightage="100" keywordseo="APY">APY</keyword>) will now onwards be considered eligible for the same tax benefits as the National Pension System (<keyword id="118491" type="ORGANIZATION" weightage="100" keywordseo="NPS">NPS</keyword>). The regulations has been set by a circular released by the <keyword id="65338" type="ORGANIZATION" weightage="100" keywordseo="Income-Tax-Department">Income Tax department</keyword>. 
 
As per the circular, the tax benefits for contributions to APY would include the additional deduction of Rs 50,000 under section 80CCD(1) introduced in last year's Budget. 
 
Talking of the scheme, APY is open to Indians aged between 18 and 40 years and the minimum tenure is of 20 years. Ever since it was launched in June last year, it has seen nearly 20 lakh subscriptions. 
 
After its release, APY replaced the NPS Lite or Swavalamban scheme, which had received about 45 lakh subscriptions in six years of its release. 
 
However, not everything is in the favour of investors here. The government will contribute 50% of the contribution made by the investor for a period of five years, the benefit of which will only go to subscribers who put in less than Rs 1,000 a year and those who would join the scheme before March 31, 2016. 
 
It also means that investors with taxable income are also not eligible for the benefits. 
 
Amongst the 20 lakh subscribers, small-ticket investors contribute a major part. The AUM of Rs 328 crore is spread across 19.77 lakh accounts, which makes the average balance per account to be only Rs 1,640. In comparison to this, NPS Lite, the scheme that it had replaced which benefited from the market rally since 2010 has about Rs 1,982 crore spread across 44.63 lakh accounts, making the average to be 4,440 per account. 
 
<a href="http://www.telanganastateinfo.com/wp-content/uploads/2015/05/Atal-Pension-Yojana.jpg">Image source</a>

The Govt’s making a big bet on this Pension Scheme and it may just pay off!

New Delhi, May 12 () Paytm Money on Tuesday said it has added National Pension System (NPS) to its app after approval from the Pension Fund Regulatory and Development Authority (PFRDA). "This new addition is expected to benefit investors by helping them save for their retirement while also enabling tax benefits," a statement said. In 2009, the 'All Citizen Model' in NPS was launched that allows any individual to enroll in NPS. Till date, 13 lakh investors have enrolled under the 'All Citizen Model', the statement said, adding that Paytm Money intends to increase this number manifold by enabling investments in NPS via a simple and quick digital investing experience. "In a country like India with its huge young working population, retirement planning needs to be simplified. We want to bring NPS investing to millions of Indians and help them build a retirement corpus. "It sits perfectly with our vision of democratising wealth management in India," Amit Nayyar, President (Financial Services) at Paytm, said. NPS, as an offering, also incentivises users to save additional taxes and hence, complements the wide range of existing tax-saver mutual funds on Paytm's platform, he added. The statement said Paytm Money will offer NPS with the choice to invest in tier 1 (Tax Saver scheme) and tier 2 (zero lock-in period scheme). Paytm Money has more than 5 million users. SR RVK

Paytm Money adds NPS to platform

<ul class="summary-list"><li>After a year indoors, people are swarming America's <keyword id="134748" type="ORGANIZATION" weightage="60" keywordseo="national-parks">national parks</keyword> this summer.</li><li>Parks are seeing long lines, traffic jams, graffiti, and negative encounters with wildlife.</li><li>Park advocates give tips on how to enjoy a visit while staying safe and protecting the parks.</li></ul>After a year of being cooped up indoors, millions of Americans have fled <keyword id="981317" type="PERSON" weightage="60" keywordseo="outdoors">outdoors</keyword> to wild places, some for the first time.Visitation rates at some of America's national parks have skyrocketed. Yellowstone National Park, one of the country's most visited, had a record-breaking June with nearly <a href="https://www.nps.gov/yell/learn/news/21020.htm">1 million visits</a>, a 20% increase from June 2019. At destinations like Zion National Park, visitors are waiting <a href="https://twitter.com/ZionNPS/status/1399012666140770318?s=20">four hours</a> just to begin a hike. At Arches and Canyonlands national parks, <a href="https://www.nps.gov/cany/learn/news/news051721.htm">lines to enter</a> can take hours and some cars are being turned away until other visitors leave."About 12-15 of the most popular destination parks is where we're seeing the most numbers of visitors," Jenny Anzelmo-Sarles, the chief spokesperson for the National Park Service, told Insider. "Half of all visits are happening at just over 20 of the most visited parks."In addition to long lines and full parking lots, crowded parks are leading to damage to the natural landscape, negative encounters with wildlife, and an increase in search and rescue calls, according to Cassidy Jones, the outreach and engagement manager for the National Park Conservation Association."We're seeing lots of first-time visitors, lots of folks who have never 'parked' before," Jones said.<h2>'Take only photos, leave only well-placed footprints'</h2>Jones noted a common refrain within the park service: "Take only photos, leave only well-placed footprints."Graffiti of any kind, whether drawing or etching into rock, is not allowed. Picking wildflowers or collecting rocks is not allowed. Even stacking rocks into cairns, or neatly stacked piles often seen on trails, is discouraged.<div type="image" title="Park maintenance staff uses grinders to remove graffiti from a rock face at Arches National Park." height="2652" width="3536" msid="84722130" hostid="261"></div>While small actions like this may not seem like a big deal, Jones said the park service likes to say they're in the "forever business." "Keeping these places as wonderful as they are now, or even better, forever, is a pretty big job," she explained. "While one wildflower doesn't seem like it makes a big difference, it does not take very long when you have thousands of visitors a day, each picking one flower, for there to be none left."It's also important to not leave trash behind. Especially as the parks are crowded, visitors should not leave trash on top of already-full garbage cans, making it likely to blow away.<h2>Never approach or touch wildlife and stick to the trails</h2>Jones explained a basic rule: "If you extend your arm out and hold your thumb up you should be able to cover the animal with just your thumb." If your thumb can't cover the animal, you're too close.<div type="image" title="A bison and her calves crossing a road in that is backed up with a line of cars." height="1949" width="2600" msid="84722132" hostid="261"></div>Getting close to animals puts people and the animal in danger, including animals that are not necessarily viewed as "dangerous." Yellowstone National Park has up to a few instances each year of visitors being <a href="https://www.nbcnews.com/news/us-news/woman-72-gored-bison-yellowstone-after-getting-too-close-photos-n1232496">gored by a bison</a> after getting too close.Jones said it's important to never feed animals as it teaches them to be dependent on humans and harass people for food. "They really don't need goldfish and gummy bears," she said.Staying on trails also "gives wildlife the chance to escape people," Jones said. Walking off trails can also trample delicate soil and vegetation.<h2>Plan ahead, manage expectations, and follow local recommendations</h2>Some parks have introduced reservations systems, so visitors can ensure that they'll be allowed to enter at the time they reserve. If you can't reserve an entrance time in advance, Jones said most people try to enter parks between 10 a.m. and 2 p.m., so coming early or late is a good way to avoid a long line.But if you show up to a park or to a specific trailhead and can't get in right away or can't find a parking spot, have a backup plan to visit another attraction nearby and return to the busy one another time.Making hotel and campground reservations far in advance is also crucial, as they can fill up far in advance. NPS said campground reservations alone are up 73% since 2019.Jones said first-time visitors especially should manage their expectations when it comes to crowds, and not expect to see the seemingly isolated views that are often depicted on Instagram.<div type="image" title="A bright sunrise peaking through the red rock of Mesa Arch." height="2000" width="4000" msid="84722134" hostid="261"></div><div type="image" title="Mesa Arch, a red rock arch, at sunset with a crowd of people trying to take photos." height="1000" width="2000" msid="84722135" hostid="261"></div>Most importantly for safety, Jones said people should follow the specific recommendations at the park they're visiting, as they'll vary based on weather, wildlife, and other factors."We're seeing a lot of search and rescue operations," she said. "You don't want to add to that burden."The park service launched the "<a href="https://www.nps.gov/aboutus/news/plan-like-a-park-ranger.htm">Plan Like a Park Ranger</a>" initiative this year to help visitors plan ahead. As for avoiding the busiest parks, the NPS also recommends <a href="https://www.doi.gov/blog/10-alternatives-popular-national-parks">alternative locations to visit</a>."I always like to remind folks that there are so many wonderful places to visit. Most people focus on the 'capital N, capitol P' parks," Jones said. There are only 63 "National Parks," but the NPS oversees a total of <a href="https://www.nps.gov/aboutus/national-park-system.htm">423 protected places</a> that include national seashores, national lakeshores, and national monuments, among others."All of them have extraordinary reasons for being protected, and I highly recommend folks really broaden their perspective," she said.Have a <keyword id="6355005" type="UNKNOWN" weightage="100" keywordseo="news">news</keyword> tip? Contact this reporter at <a href="mailto:kvlamis@insider.com?inline-read-more">kvlamis@insider.com</a>.

Record-high visitation rates at National Parks have led to big crowds, graffiti, and negative wildlife encounters. Here's how to stay safe and protect the parks during a visit.

New Delhi, Apr 10 () The Pension Fund Regulatory and Development Authority of India (PFRDA) on Friday said NPS subscribers will now be allowed partial withdrawal for covering expenses related to treatment of COVID-19. In a circular addressed to all stakeholders and subscribers under the National Pension System (NPS), PFRDA said, "In view of the decision of the Government of India, which has declared COVID-19 as a pandemic, it has been decided to declare COVID-19 as a critical illness which is life threatening in nature." The partial withdrawals shall be permitted to fulfil financial needs of the subscribers, if required to him/her against the request placed for partial withdrawals towards treatment of the illness of subscriber, his legally wedded spouse, children, including a legally adopted child or dependent parents, as per the regulations, PFRDA said in the circular. PFRDA clarified that the facility of partial withdrawal will not be applicable for Atal Pension Yojana (APY) subscribers. "We would like to clarify that presently, there is no provision for subscribers to make partial withdrawals under APY," PFRDA added. NPS and APY are the two flagship pension scheme run by PFRDA. Whereas the NPS is for the central, state governments, autonomous bodies and corporates, APY is mainly meant to cater to the pension needs of those employed in the unorganised sector. The majority chunk of India's workforce is employed into the unorganised sector. As on March 31, the total number of subscribers under NPS and APY stood at 3.46 crore. Of this, the number of APY subscribers were 2.11 crore, as per data from PFRDA. KPM HRS

COVID-19 treatment: Govt allows partial withdrawal for NPS subscribers

New Delhi, Dec 23 () Pension fund regulator PFRDA is pitching for doubling the tax benefit under the NPS to Rs 1 lakh in the upcoming Budget, according to a whole-time member of the authority.
 The Pension Fund Regulatory and Development Authority of India (PFRDA) has also urged the government to extend the facility of of tax free contribution of 14 per cent by the central government to its employees under the NPS to all categories of subscribers.
 The tax deduction under the NPS is Rs 50,000 at present.
 "For the Budget, we are trying to see that the Rs 50,000 investment which is tax free under National Pension System (NPS), it should be raised to an amount of Rs 1 lakh," PFRDA Whole Time Member Supratim Bandyopadhyay told .
 Employers' contribution of 14 per cent in pension for central government employees was made tax free from April 1, 2019.
 "We have requested that this facility should be extended to state government employees as well as the autonomous bodies of both central and state government," he added.
 For state government and autonomous bodies, as per the extant tax rules, up to 10 per cent of the employers' contribution is tax free and the rest 4 per cent is taxable at the hands of the employee.
 Maharashtra, Bihar, Karnataka, Uttar Pradesh, Uttarakhand and Himachal Pradesh have enhanced the employers' contribution under NPS to 14 per cent from 10 per cent earlier. While Punjab recently announced to raise its contribution to 14 per cent.
 "Apart from that we have been asking for increasing the age limit for subscription under Atal Pension Yojana (APY) from 40 to 60 years. And also to increase the pension limit from existing Rs 5,000 a month to Rs 10,000 per month under APY," Bandyopadhyay said.
 APY, the pension scheme for the unorganised sector employees as well as self earners, is sold to people under the age bracket of 18-40 years.
 Further, keeping in view a UN report which says that globally the population aged 65 and above is growing faster than all other age groups, he said the PFRDA is focussing in a big way on the APY to increase pension penetration in India.
 He said the pension regulator is conducting nationwide campaigns to bring more and more people in the informal sector to join the APY.
 When asked about gender wise subscription under the APY, he said it is majorly dominated by male participants, however, states like Tamil Nadu and Kerala show more and more women joining the schemes.
 "In places like Tamil Nadu and Kerala, we have seen that female participation is more because there our distribution channels are basically self-help groups (which are mainly run by women). One analysis is that when women subscribe to APY then their chances of staying with the system (APY) is more than male participants by 5 per cent," he said.
 He said the PFRDA has set a rough target of adding 75 lakh subscribers under APY in the current fiscal of which 47 lakh have already been added so far.
 "We have a very conservative target of 7.5 million under APY this year out of which we have already crossed 4.7 million and I believe that it is definitely possible (to reach the target) because the last three-four months like from December to March are the most productive months," he added.
 As of November 9, 2019, the overall number of NPS and APY subscribers in the country crossed 3.12 crore with Asset under Management (AUM) of over Rs 3.85 lakh crore , as per the PFRDA data.
 The PFRDA administers these two pension schemes. KPM KPM ANU
ANU

You Searched For "nps national pension system news" and got 9 results

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The Govt’s making a big bet on this Pension Scheme and it may just pay off!

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Paytm Money adds NPS to platform

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Record-high visitation rates at National Parks have led to big crowds, graffiti, and negative wildlife encounters. Here's how to stay safe and protect the parks during a visit.

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COVID-19 treatment: Govt allows partial withdrawal for NPS subscribers

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PFRDA wants govt to double tax benefit under NPS to Rs 1 lakh

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