Retirement survey : 74% Indians financially retirement-ready




74% Indians financially retirement-ready

Indians, who demonstrate impressive optimism, have lowest concern about financial hardship in retirement, according to survey done across 17 countries by Canara HSBC Oriental Bank of Commerce Life Insurance.

Indians are second best in Asia Pacific with 74 per cent 'feeling' adequately financially prepared to handle their retirement and 69 per cent of the respondents see themselves as being better off in their later life than their parents, the survey said.

However, 51 per cent respondents in India are worried about being able to cope financially in old age, with one in ten people in India expecting to continue working in later life to provide income for themselves, reiterating that the general optimism towards retirement must not therefore lead to complacency, it said.

India currently enjoys the fortunate position of relatively high savings rates. Further, it does not face the immediate demographic challenges of most of its peers.

However, this will not last, said Canara HSBC Oriental Bank of Commerce Life Insurance CEO John Holden.

With the looming demographic time bomb, in the long term, India is likely to face the same pressure as its peers, he said.

Over the next 30 years, a higher proportion of the population will be of working age and when they retire, India too, will face the challenges of an ageing, non-working population. As life expectancy increases, the number of years spent in retirement is expected to get greater, he added.

The study further noted that those with a financial plan for the future enjoy several benefits over those who do not.

It is called 'planning premium' and these benefits are both 'hard' and 'soft', including not only greater and more diverse retirement savings, but also a more positive outlook and fewer worries about later life, it said.

Individuals who undertake financial planning are not only likely to be better off in retirement, but also are more likely than non-planners to associate retirement with positive ideas such as freedom and less likely to associate it with negative ones such as financial hardship, it added.

According to the study, a key challenge in encouraging households to start planning remains the need to raise basic levels of financial literacy.

The survey had a sample size of 1,028 in India. Of this 778 men while 250 women across various age-group were surveyed.



Source: The Hindu

Backlog Training Programme for U.D.Cs / Assistants at ISTM for the period 18-07-2011 to 29-07-2011


Most Immediate

No.08/11/2011-CSI(T) 
Government of India 
Ministry of Personnel, Public Grievances & Pensions 
Department of Personnel & Training

New Delhi 
Dated the 28th June, 2011

OFFICE MEMORANDUM

Subject: Backlog Training Programme for U.D.Cs / Assistants at ISTM for the period 18-07-2011 to 29-07-2011.

The undersigned is directed to inform that UDCs upgraded to the post of Assistant, whose names are given in Annexure I, have been nominated for the above mentioned Backlog Training Programme. This training is being conducted by ISTM w.e.f.18-07-2011 to 29-07-2011. It is requested that these officials may be relieved of their duties, subject to vigilance clearance and advised to report to Shri K. K. Pant, Assistant Director(Co-ordinator) ISTM, Administrative Block, JNU Campus (Old), New Delhi-110067 at 9 A.M. on l8th July, 2011.

2. The performance of the officials in the training will be evaluated and the reports thereof be added in their APARs. No request for withdrawal of nomination either from the Ministry / Department or the officer concerned shall be entertained by this Department or the Institute. As the training of the officials and successful completion is necessary for regularization/promotion, the Cadre Units are requested to ensure that the officials nominated to the above programme are relieved in time.

3. As the aforesaid training includes study tour, officers nominated above may be advised to draw necessary TA/DA advance of Rs.12,000/- each from their respective Ministry/Department. This amount may be released in Cash only.

4. Confirmation with regard to the participation of the officials along with their respective bio-data (Annexure-II) may please be sent by 6th July 2011 to Shri K. K. Pant, Assistant Director (Co-ordinator), ISTM, New Delhi, with a copy to the undersigned. Shri K. K.Pant, Assistant Director(Co-ordinator) ISTM is accessible on phone No. 26165593(O).


sd/- 
( VidyadharJha) 
Under Secretary to Government of India 

More details…

Source: www.persmin.nic.in

http://persmin.gov.in/WriteReadData/CircularPortal/D2/D02csd/bkudc18711.pdf

Holidays to be observed In Central Government Offices during the year 2012


Holidays to be observed In Central Government Offices during the year 2012.

MOST IMMEDIATE

F.No.12/3/2011-JCA-2 
Government of India 
Ministry of Personnel, Public Grievances and Pensions 
(Department of Personnel and Training)

North Block, New Delhi 
Dated the 27th June, 2011

Subject: Holidays to be observed In Central Government Offices during the year 2012.

It has been decided that the holidays as specified in the Annexure —I to this O.M. will be observed in all the Administrative Offices of the Central Government located at Delhi/New Delhi during the year 2012. In addition, each employee will also be allowed to avail himself/herself of any two holidays to be chosen by him/her out of the list of Restricted Holidays in Annexure — II.

2. Central Government Administrative Offices located outside Delhi / New Delhi shall observe the following holidays compulsorily in addition to three holidays as per para 3.1 below: 
1. REPUBLIC DAY 
2. INDEPENDENCE DAY 
3. MAHATMA GANDHI’S BIRTHDAY 
4. BUDHA PURNIMA 
5. CHRISTMAS DAY 
6. DUSSEHRA (VLJAY DASHMI) 
7. DIWALI (DEEPAVALI) 
8. GOOD FRIDAY 
9. GURU NANAK’S BIRTHDAY 
10. IDU’L FITR 
11. IDU’L ZUHA 
12. MAHAVIR JAYANTI 
13. MUHARRAM 
14. PROPHET MOHAMMAD’S BIRTHDAY (ID-E-MILAD)

3.1. In addition to the above 14 Compulsory holidays mentioned in para 2, three holidays shall be decided from the list indicated below by the Central Government Employees Welfare Coordination Committee in the State Capitals, if necessary, in consultation with Coordination Committees at other places in the State. The finai list applicable uniformly to all Central Government offices within the concerned State shall be notified after seeking prior approval of this Ministry and no change can be carried out thereafter. It is also clarified that no change is permissible in regard to festivals and dates as indicated.

1. AN ADDITIONAL DAY FOR DUSSEHRA 
2. HOLI 
3. JANAMASHTAMI (VAISHNAVI) 
4. RAM NAVAMI 
5. MAHA SHWRATRI 
6. GANESH CHATURTHI / VINAYAK CHATURTHI 
7. MAKAR SANKARANTI 
8. RATH YATRA 
9. ONAM 
10. PONGAL 
11. SRI PANCHAMI / BASANTA PANCHAMI 
12. VISHU / VAISAKHI / VAISAKHADI / BHAG BIHU / MASHADI UGADI / CHAITRA SAKLADI / CHETI CHAND / GUDI PADA 1st NAVRATRA / NAURAJ/CHHATH POOJA/KARVA CHAUTH.

3.2 No substitute holiday should be allowed if any of the festival holidays initially declared subsequently happens to fall on a weekly off or any other non working day or in the event of more than one festivals falling on the same day.

4. The list of Restricted Holidays appended to this O.M. is meant for Central Government Offices located in Delhi / New Delhi. The Coordination Committees at the State Capitals may draw up separate list of Restricted Holidays keeping in view the occasions of local importance but the 9 occasions left over, after choosing the 3 variable holidays in para 3.1 above, are to be included in the list of restricted holidays.

5.1 For offices in Delhi / New Delhi, any change in the date of holidays in respect of Idu’l Fitr, Edu’l Zuha, Muharram and Id-e-Milad, if necessary, depending upon sighting of the Moon, would be declared by the Ministry of Personnel, Public Grievances and Pensions after ascertaining the position from the Govt. of NCT of Delhi.

5.2 For offices outside Delhi / New Delhi, the Central Government Employees Welfare Coordination Committees at the State Capitals are authorised to change the date of holiday, if necessary, based on the decision of the concerned State Governments / Union Territories, in respect of ldu’l Fitr, Idu’l Zuha, Muharram and ld-e-Milad.

5.3 It may happen that the change of date of the above occasions has to be declared at a very short notice. In such a situation, announcement could be made through T.V. / A.I.R. / Newspapers and the Heads of Department / Offices of the Central Government may take action according to such an announcement without waiting for a formal order, about the change of date.

6. During 2012, Diwali (Deepavali) falls on Tuesday, November 13, 2012 (Kartika 22). In certain States, the practice is to celebrate the occasion a day in advance, i.e., on ‘Narakachaturdasi Day”. In view of this, there is no objection if holiday on account of Deepavali is observed on "Naraka Chaturdasi Day (in place of Deepavali Day) for the Central Government Offices in a State if in that State that day alone is declared as a compulsory holiday for Diwali for the offices of the State Government.

7. Central Government Organisations which include industrial, commercial and trading establishments would observe upto 16 holidays in a year including three national holidays viz. Republic Day, Independence Day and Mahatma Gandhi’s birthday, as compulsory holidays. The remaining holidays / occasions may be determined by such establishments / organisations themselves for the year 2012, subject to para 3.2 above.

8. Union Territory Administrations shall decide the list of holidays in terms of Ministry of Home Affairs letter No.14046/27/83- GP-I dated 15.2.1984 by which they would observe a total of 16 holidays including the three National Holidays Viz. Republic Day, Independence Day & Mahatma Gandhi’s birthday.

9. in respect of Indian Missions abroad, the number of holidays may be notified in accordance with the instructions contained in this Department’s O.M. No.12/5/2002-JCA dated 17th December, 2002. In other words; they will have the option to select 10(Ten) holidays of their own only after including in the list, three National Holidays and Milad-un-Nabi or Id-E-Milad, Buddha Purnima, Idu’l Zuha (Bakrid) and Muharram included in the list of compulsory holidays and falling on days of weekly off.

10. In respect of Banks, the holidays shall be regulated in terms of the extant instructions issued by the Department of Financial Services, Ministry of Finance.

11. Hindi version will follow.

sd/- 
(DINESH KAPILA) 
Director (JCA)

Source: www.persmin.nic.in

[http://persmin.gov.in/WriteReadData/CircularPortal/D2/D02est/12_3_2011-JCA-2-1.pdf]

Restricted Holiday (RH) on the occasion birthday of Shri Guru Gobind Singh to be observed on 31st December, 2011

F.No.12/1/2010-JCA-2 
Government of India 
Ministry of Personnel, Public Grievances & Pensions 
(Department of Personnel & Training)

North Block, New Delhi, 
Dated the 27th June, 2011

OFFICE MEMORANDUM

Subject: Restricted Holiday (RH) on the occasion birthday of Shri Guru Gobind Singh to be observed on 31st December, 2011

The birthday of Shri Guru Gobind Singh has been shifted from 5th January 2012 (15 Pausha 1933 SE, Thursday) to 31st December 2011 (10 Pausha 1933 SE Saturday). Modification had been made on the basis of amendments in the critcrion of the festival falling on Lunar tithi – Pausha Sukla Saptami instead of Solar Date of January 5. Accordingly, there will be Restricted Holiday on 31st December, 2011 on account of birthday of Shri Guru Gobind Singh.

2. Hindi version will follow.


sd/- 
(Dinesh Kapila) 
Director (JCA)

 

Source: www.persmin.nic.in 
[http://persmin.gov.in/WriteReadData/CircularPortal/D2/D02est/12_1_2010-JCA-2-1.pdf]

Finalization of Common Seniority List (CSL) in the Grade of UDCs of CSCS for the Select List years 1995 to 2005


No.20/53/2O08-CS.II 
Government of India 
Ministry of Personnel, Public Grievances & Pensions 
Department of Personnel & Training



Lok Nayak Bhawan, New Delhi-3, 
Dated: the 24th June, 2011

OFFICE MEMORANDUM


Subject: - Finalization of Common Seniority List (CSL) in the Grade of UDCs of CSCS for the Select List years 1995 to 2005 — reg.

The undersigned is directed to refer to this Department’s O.M. of even number dated 29.04.2010, 09.09.2010, 27.09.2010 and 11.11.2010 Ofl the above subject circulating the Common Seniority List of UDCs for the Select List years 1995 to 2005.

2. Some of the cadre units have forwarded representations which relate to corrections regarding names and date of birth of UDCs and the same have been carried out in the list. On the basis of the information received from cadre units, individuals and also on re-verifying the seniority lists of the cadres, the order of placement of some of the officials has been revised. In view of above, the revised seniority list of UDCs for the Select List 
year 1995 to 2005 are circulated herewith for information. The cadre units are requested to invariably mention the CSL number in future correspondence relating to the seniority List of UDCs for the Select List years 1995 to 2005. Accordingly the Common Seniority List of UDCs for the Select List years 1995 to 2005 may be treated as final The same may be seen on the website of this Department i.e.

www.http:// persmin.nic.in
Central Services Wing
CS Division
Central Secretariat Clerical Service
Common Seniority List

sd/-

(J.Minz) 
Under Secretary to the Govt of India



Source: www.persmin.nic.in
[http://persmin.gov.in/WriteReadData/CircularPortal/D2/D02csd/finalcslofudc1995to2005.pdf]

Periodical Transfer of Railways employees


RBE No.94/2011

Government of India 
Ministry of Railways 
(Railway Board)


No.E(NG)I-2011/TR/11 
New Delhi, dated 20.06.2011

The General Managers(P),
All Zonal Railways etc.,
(As per standard list)

Sub: Periodical Transfer of Railways employees.

As the Railway Administrations are aware, a comprehensive list of sensitive posts for the purpose of periodical transfers was drawn by the Ministry of Railways and circulated to the Railways under its letter No.E(NG)I/87/TR/34 (JCM/DC) dated 27-09-1989. The posts of Stock Verifiers (SVs) were also included in this list vide Board’s letter No.E(NG)I-94/TR/29 dated 28.03.2005.

2. The Ministry of Railways have reviewed the matter and have decided that nature of job of Assistant Stock Verifiers (ASVs) in Accounts Department is similar to that of SVs, hence the post of ASVs should also be included in the list of sensitive posts for the purpose of periodical transfers.

Please acknowledge receipt

(This disposes of West Central Railway’s letter
No.HQ/AC/SV/Tfr. Policy/ISA/9/617 dated 11.04 2011)

sd/- 
(M.K.Meena) 
Dy.Director Estt.(N) 
Railway Board. 

Source: AIRF

[http://airfindia.com/Orders_11/Periodical%20transfer%20Assistant%20Stock%20Verifiers_20.06.11.pdf]
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