Question
The current pension systems of National Pension System
(NPS) is a _____________ plan.Solution
A Pension plan be either a defined benefit plan or a defined contribution plan. Â
- A defined benefit plan is one which gives guaranteed retirement benefits irrespective of the returns generated by the pension fund. This is type of pension plan is usually funded by employers for its employees with retirement pay-outs as per a set formula based on salary, employees age, tenure of service. As such, here the amount of pension on retirement is already known. Â
- A defined contribution plan is one in which the pension depends on the contributions made and the return generated on the investment made of those contributions. In this plan, the contribution made for the pension fund is defined or fixed. For example NPS or EPF where a fixed amount is contributed every month from the salary. Â
Which team did India defeat in the final of the U-19 Women’s Asia Cup 2024?
Which international group adopted a framework document on climate and sustainable development during a forum held in Russia in August 2024?
Which is the 1st state to start the MBBS (Bachelor of Medicine and Bachelor of Surgery) course in Hindi?
- Which Indian state pioneered the implementation of Scheduled Caste sub-categorization?
The Phillips Curve shows the relationship between:
Which of the following statements about the Indian social reformers of the 19th century is INCORRECT?
Match the diseases listed in Column I with their causative agents in Column II:
Column I:
- A) Hansen's disease
- B) Lyme disease<...
The Government of India recently authorized what percentage of Foreign Direct Investment (FDI) through the automatic route for the aircraft maintenance,...
Who is the guest country for the World Book Fair 2024?
According to the Human Development Report 2023-24, India is ranked 134th in the 'Global Human Development Index'. This report is published by which of t...