Important Points for IC 83 - Group Insurance and Retirement Benefit Schemes Exam
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IC-83 Group Insurance and Retirement Benefit Schemes Exam Study Material
Employees pension scheme is Pension Scheme for survivors, old aged and disabled persons. Survivor Pension: If death occurs during service period, Old Age pension: Pension or Superannuation, Permanent disability: In the event of member suffering pension permanet disability while in service.
Public Provident Fund is a scheme of the Central Government, framed under the PPF Act of 1968. It is a disciplined investment avenue as your money is blocked for 15 years.
Retirement schemes provide financial security and stability during old age when people dont have a regular source of income. Retirement plan ensures that people live with pride and without compromising on their standard of living during advancing years.
The object of employee benefit schemes is to make adequate financial provision to employees in two contingencies, namely. Premature death while in service and Compulsory retirement from gainful employment.