Thursday, April 2, 2020

PREMIUM PAYMENT PERIOD FOR POSTAL LIFE INSURANCE & RURAL POSTAL LIFE INSURANCE EXTENDED UPTO 30TH APRIL 2020

Ministry of Communications
PREMIUM PAYMENT PERIOD FOR POSTAL LIFE INSURANCE & RURAL POSTAL LIFE INSURANCE EXTENDED UPTO 30TH APRIL 2020

30 MAR 2020

In view of the threat posed by the outbreak of Corona Virus (COVID-19), and the complete lockdown across India, Directorate of Postal Life Insurance (PLI), Department of Posts, Ministry of Communications has given an extension of period for payment of their due premium of March 2020 upto 30th April 2020 without charging any penalty / default fee. Directorate of PLI said that although many Post Offices are functional as part of essential services, Postal Life Insurance / Rural Postal Life customers are facing difficulty in approaching post offices for payment of premium. Therefore, as a measure of convenience to all the PLI / RPLI customers, the period of payment has been extended.

The decision is likely to benefit approximately 13 lakh policy holders (5.5 Lakh PLI and 7.5 Lakh RPLI) who have not been able to pay premium for current month. As compared to about42 lakh policy holders who paid premium last month, only 29 lakh of them have been able to pay premium for this month till today.

Customers registered on portal have also been advised to pay premium online using PLI customer Portal.

PFRDA pledges to contribute to PM-CARES Fund to help fight COVID-19 outbreak

Ministry of Finance

PFRDA
PFRDA pledges to contribute to PM-CARES Fund to help fight COVID-19 outbreak

01 APR 2020

The pension sector regulator Pension Fund Regulatory and Development Authority (PFRDA) has pledged to contribute a part of the employee’s salary to the Prime Minister's Citizen Assistance and Relief in Emergency Situations (PM CARES) Fund, instituted recently under the guidance of Prime Minister Shri Narendra Modi to assist and provide relief measures to the citizens of the country following the global outbreak of novel Coronavirus (COVID-19).

Alike other Government institutions, industry leaders, celebrities, individuals, PFRDA employees have decided to contribute part of their salary and PFRDA is committed to assist the government in its fight against the pandemic in India.

Shri Supratim Bandyopadhyay, Chairman PFRDA said “This is one of the most challenging period that our country is facing today. At this moment what matters most is sharing the responsibility of fight against coronavirus (COVID-19) in every way possible. The PFRDA is perceptive of the implications of this pandemic situation and would like to contribute towards the fight of this crisis”.

About PFRDA

Pension Fund Regulatory and Development Authority (PFRDA) is the statutory Authority established by an enactment of the Parliament, to regulate, promote and ensure orderly growth of the National Pension System (NPS) and pension schemes to which this Act applies. NPS was initially notified for central government employees joining service on or after 1st Jan 2004 and subsequently adopted by almost all State Governments for its employees. NPS was extended to all Indian citizens (resident/non-resident/overseas) on a voluntary basis and to corporates for its employees.

As on 31st March 2020, the total number of subscribers under NPS and Atal Pension Yojana has crossed 3.45 crores and the Asset under Management (AUM) has grown to Rs 4,17,478 crores. More than 68 lakhs government employees have been enrolled under NPS and 22 lakhs subscribers have subscribed to NPS in the private sector with 7,568 entities registered as corporates. More than 2.11 crores subscribers are presently covered under the GoI guaranteed pension scheme - Atal Pension Yojana.

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