#implementation of new pension scheme

[uniqueeval]

Labour Minister to meet Central Trade Unions on employment linked incentive scheme

Labour Minister Mansukh Mandaviya has invited all Central Trade Unions (CTUs) for to discuss the implementation of the Employment Linked Incentive (ELI) and the Unified Pension Scheme (UPS). | Photo Credit: PTI Union Labour Minister Mansukh Mandaviya has invited all Central Trade Unions (CTUs) for an “introductory meeting” on Wednesday (August 27, 2024), in which issues such as the…

[rightnewshindi]

क्या है यूनिफाइड पेंशन स्कीम, कर्मचारियों को कैसे होगा फायदा, कब से होगी लागू; यहां पढ़ें पूरी डिटेल

What is Unified Pension Scheme in Hindi: केंद्रीय मंत्रिमंडल ने शनिवार शाम को यूनिफाइड पेंशन स्कीम की मंजूरी दे दी। सरकारी कर्मचारियों की तरफ से यूनिफाइड पेंशन स्कीम (Unified Pension Scheme) लागू करने के लिए मोदी सरकार की तारीफ की गई है। न्यूज एजेंसी PTI की एक रिपोर्ट के अनुसार, सरकारी कर्मचारियों ने केंद्र सरकार द्वारा उन्हें सुनिश्चित पेंशन देने के फैसले की तारीफ की। रिपोर्ट के अनुसार, सरकारी…

[southeastasianists]

In 2023, a significant demographic milestone emerged with broad social and economic impacts: the global population of adults aged 50 surpassed the number of children under 15 for the first time. Brunei Darussalam, a small, oil-rich Islamic country on the island of Borneo in Southeast Asia, faces challenges associated with this shift. Ranked as one of the world’s wealthiest nations due to its vast oil and gas reserves, Brunei’s population of 455,858 sees a contrast with a poverty rate of 5%, positioning it 11th out of 78 countries.

Hajah Nor Ashikin binti Haji Johari, Permanent Secretary at the Ministry of Culture, Youth and Sports (MCYS), highlighted the profound economic impact of the aging global population, noting the substantial expenditures on health care, research and support services. Furthermore, Hajah pointed out the rapid growth of the aging population and its broad implications. During Brunei’s chairmanship of the Association of Southeast Asian Nations (ASEAN) in 2021, Johari emphasized Brunei’s leadership in endorsing the ASEAN Comprehensive Framework on Care Economy.

Additionally, in 2017, an action plan spanning five years was adopted to enhance elderly development, welfare and protection, aiming to create a senior-friendly support system and reduce elderly poverty in Brunei. Unfortunately, an aging demographic compounded by an ominous surge in noncommunicable diseases (NCDs) such as heart disease, cancer, chronic respiratory disease and diabetes challenges Brunei’s socio-economic development.

Addressing Poverty and Social Protection in Brunei

Bruneians who live in poverty prefer to use the phrasings “living in need” and “difficult life” over “poverty” and “poor.” This exchange of phrasings intends to protect an individual’s self-confidence and self-esteem. Yet this preference challenges officials’ attempts to accurately assess the severity of poverty and implement targeted interventions.

However, Brunei’s social protection schemes encounter challenges. These challenges include limited coverage, differential treatment between public and private sectors, exclusion of unemployed individuals and inadequate support for vulnerable groups such as divorcees, widows/widowers, single parents, orphans, the abused and disabled people.

The Dual Impact of an Ageing Society

Across developing countries, evidence showcases the productivity, creativity, vitality and participation of older adults in workplaces, communities, households and families. According to ageInternational, some of the pros of an aging society include:

Consumer Market: Older adults can create new opportunities in the consumer market with higher disposable incomes and specific needs that can drive economic growth.

Accumulated Knowledge: An aging population can possess a wealth of knowledge and experience, beneficial for education and mentorship.

Stable Workforce: Older individuals provide greater stability in employment as they switch jobs less frequently.

In addition, the aging population significantly impacts the labor market. The dependency ratio, which compares the number of economically inactive individuals to those who are economically active, is set to increase. According to the International Labour Organization, some of the cons of an aging society include:

Labor Shortages: Addressing the need to create jobs for young individuals and encourage lifelong learning for older individuals to acquire new skills.

Pension and Retirement Challenges: Ensuring adequate pensions and financial support for retirees.

Limited Social Support Systems: Establishing social support systems, including affordable housing and accessible transportation, to enhance the quality of life.

Health care Costs: Investing in health care infrastructure to meet the growing needs of an aging population and prioritizing preventive health care measures.

Brunei at a Demographic Crossroads

As Brunei Darussalam navigates through its complex demographic and health landscape, proactive and holistic measures become imperative for securing the future prosperity of its people. Moreover, by addressing the multifaceted challenges head-on, Brunei is poised to set a precedent for demographic resilience and health sustainability.

Above all, the nation’s commitment to comprehensive solutions promises not only to enhance the well-being of its aging population and reduce elderly poverty in Brunei but also to pave the way for long-term national growth. At this pivotal juncture, Brunei’s journey offers valuable insights into the power of foresight and action in shaping a thriving society.

– Pamela Fenton

[flexiconsultancy]

How Owner-Managed Businesses Can Navigate UK Payroll Changes: Expert Advice from London's Accounting Specialists

In the ever-evolving landscape of UK business regulations, staying compliant with payroll changes can be particularly challenging for owner-managed businesses. As the financial backbone of London's economy, small and medium enterprises need to adapt quickly to new legislation while maintaining operational efficiency. At Flexi Consultancy, we've seen firsthand how proper payroll management can be a competitive advantage—and how costly mistakes can be.

Recent UK Payroll Changes That Impact Your Business

The past year has brought significant modifications to UK payroll requirements, with several key changes affecting owner-managed businesses:

1. National Insurance Contribution Adjustments

The recent NIC thresholds and rates have shifted, creating both challenges and opportunities for SMEs. Owner-managers now need to reassess their salary-dividend mix to maintain tax efficiency while ensuring compliance with the new regulations.

2. Real-Time Information (RTI) Reporting Updates

HMRC continues to refine RTI requirements, with penalties becoming increasingly stringent for late or incorrect submissions. We've observed that businesses without dedicated payroll expertise are particularly vulnerable to these compliance issues.

3. Pension Auto-Enrolment Review

With the ongoing review of auto-enrolment thresholds, owner-managed businesses must stay vigilant about their obligations. The potential lowering of the earnings threshold could bring more of your staff into the scheme, affecting your overall payroll costs.

Practical Solutions for London's Owner-Managed Businesses

Streamline Your Payroll Systems

Many of our London clients have found success by implementing integrated payroll solutions that connect seamlessly with their accounting software. This integration minimizes data entry errors and ensures consistency across your financial reporting.

"Switching to an integrated system saved us nearly 10 hours each month on payroll processing—time we now invest in growing our business." — Client of Flexi Consultancy

Develop a Compliance Calendar

Create a dedicated payroll compliance calendar that tracks:

Monthly payroll deadlines

Quarterly NIC payments

Annual returns and reporting

Upcoming legislative changes

This proactive approach transforms compliance from a reactive burden into a manageable process.

Review Your Employment Structures

The distinction between employees and contractors continues to evolve with IR35 regulations. Our London accounting specialists recommend regular reviews of your workforce classification to ensure it reflects both current operations and compliance requirements.

The True Cost of Payroll Errors

For owner-managed businesses, payroll mistakes extend beyond HMRC penalties. Our experience working with London SMEs highlights three often-overlooked consequences:

Team Morale Impact: Payroll errors can significantly damage employee trust, especially in smaller businesses where cash flow is closely watched.

Time Drain: Rectifying payroll issues typically takes 3-4 times longer than getting it right the first time—resources few owner-managers can spare.

Strategic Limitation: Without reliable payroll data, making informed decisions about growth, hiring, and investment becomes significantly more challenging.

How Specialist Support Makes a Difference

At Flexi Consultancy, we've developed a personalized approach to payroll management that addresses the unique challenges facing London's owner-managed businesses. Our ACCA-qualified specialists combine technical expertise with practical business understanding, ensuring your payroll processes support your broader business objectives.

Our clients particularly value our:

Proactive legislative updates and implementation support

Customized payroll systems that grow with your business

Strategic tax planning aligned with payroll decisions

Director-specific salary and dividend optimization

Taking The Next Step

While larger enterprises may absorb the impact of payroll changes through dedicated departments, owner-managed businesses need smarter, more agile approaches. The right payroll strategy serves not just as a compliance exercise but as a foundation for sustainable business growth.

To discuss how your London business can optimize its approach to payroll management, contact our specialist team for a no-obligation consultation. As fellow Londoners serving the local business community, we understand the specific challenges you face.

This article was provided by Flexi Consultancy, London's dedicated accounting partner for owner-managed businesses and SMEs. For more insights on financial management for growing businesses, visit flexiconsultancy.com or follow us on LinkedIn.

[hauntedfuryz]

Rohan Jaitley’s Transformative Leadership: Ushering a New Era in Cricket Administration

Rohan Jaitley’s tenure at the helm of Delhi cricket administration is redefining the standards of governance, combining accountability, financial discipline, and modern innovation to set a new benchmark.

For years, Indian cricket administration, particularly at the state level, struggled with inefficiencies and outdated systems. In Delhi, however, a strong wind of change has been blowing under Rohan Jaitley’s leadership. As president of the Delhi & District Cricket Association (DDCA), Jaitley has introduced structural reforms that focus on transparency, technological integration, and long-term development. His leadership not only reflects a refreshing openness but also a commitment to professional excellence and sustainable progress.

Strengthening Accountability and Financial Discipline

One of Jaitley’s early priorities was to instill a culture of financial responsibility. Moving away from the chaos of past financial mismanagement, he implemented robust auditing systems and tighter internal controls. Every financial decision is now backed by transparency, ensuring that association resources are wisely utilized and wasteful expenditures curtailed.

Moreover, Jaitley’s commitment to fairness extends beyond finances. Player selection and coaching decisions have been revamped to promote merit over favoritism. By holding the Cricket Advisory Committee and coaches accountable for performance, he has paved the way for a more competitive and fair environment where players are chosen based on talent and potential, not connections.

Driving Innovation and Modern Practices

Jaitley’s forward-thinking vision has introduced a wave of modernization in Delhi’s cricket scene. His flagship initiative, the Delhi Premier League, serves as a vital platform for nurturing homegrown talent and providing players with much-needed exposure to professional-level competition. This tournament has not only increased engagement at the grassroots level but also helped create a stronger bridge to higher levels of the game.

Innovation doesn’t end there. Jaitley has championed the use of data analytics and scientific performance tracking to manage and develop players systematically. His technology-driven approach ensures that talent development is data-backed, transparent, and continually improving. Initiatives like proposing a structured pension scheme for retired cricketers show his broader vision of respecting and supporting players even after their active careers end.

Honoring Tradition While Embracing Change

Despite his emphasis on modernization, Rohan Jaitley has remained deeply respectful of Delhi’s cricketing heritage. He strikes a thoughtful balance between preserving the city’s rich cricketing traditions and pushing for needed reforms. Grassroots cricket programs have received equal attention alongside elite competition initiatives, ensuring that Delhi’s cricket pipeline remains robust and dynamic.

Conclusion

Rohan Jaitley’s leadership of the DDCA marks a paradigm shift in cricket administration. His ability to merge transparency, innovation, and tradition has created a system that other associations can aspire to. By building a foundation based on integrity, professionalism, and a clear future vision, he has reimagined what cricket governance should look like. Thanks to his efforts, Delhi cricket is better positioned than ever to thrive on the national stage and beyond.

[10bmnews]

Unified Pension Scheme From 1 April 2025: Who Is Eligible For 50% Guaranteed Pension? What Are Death Benefits For Family? | Personal Finance News

New Delhi: Unified Pension Scheme (UPS) is coming into effect from 1 April 2025. Declared last year by the Narendra Modi government, the UPS seeks to provide fixed pension security to employees working in central government offices. This scheme under the National Pension System (NPS) is mainly intended for central government workers. The scheme, which will be implemented on April 1st, may…

[tejkohli25]

How Entrepreneurs Can Navigate UK Tax Laws

Understanding UK tax laws is crucial for entrepreneurs looking to maximize tax benefits, reduce liabilities, and stay compliant. The UK has a complex tax system that affects startups, SMEs, and large enterprises, making it essential for business owners to stay informed about corporate tax rates, VAT, and investment relief schemes.

For insights on how tax policies impact businesses, check out this expert analysis.

Key UK Tax Considerations for Entrepreneurs

1. Understanding Corporate Tax & Business Structure

The UK’s corporation tax rate currently stands at 25% for companies with profits above £250,000.

Entrepreneurs must choose the right structure (sole trader, limited company, or partnership) to optimize tax benefits.

Limited companies benefit from lower tax rates and liability protection, while sole traders face simpler tax obligations.

2. Leveraging Tax Reliefs & Incentives

Research & Development (R&D) Tax Credits help startups reduce taxable profits for innovation-based projects.

The Seed Enterprise Investment Scheme (SEIS) and Enterprise Investment Scheme (EIS) provide tax relief for investors backing UK startups.

Entrepreneurs should explore capital allowances for reducing tax liabilities on equipment and property investments.

3. VAT & Digital Taxation Rules

Businesses exceeding £85,000 in turnover must register for Value Added Tax (VAT).

Digital service providers are subject to the UK’s Digital Services Tax (DST), impacting tech startups and online businesses.

Entrepreneurs should implement VAT-friendly accounting systems to manage compliance effectively.

Challenges Entrepreneurs Face with UK Taxation

1. Complex Compliance Requirements

Frequent changes in tax regulations make it challenging for startups to plan long-term strategies.

Failing to comply with HMRC guidelines can lead to penalties and financial setbacks.

2. High Corporate Tax Burdens

Increased corporate tax rates can reduce profit margins, especially for early-stage startups.

Business owners need strategic tax planning to maintain profitability.

3. Post-Brexit Trade & Tax Implications

Entrepreneurs dealing with international transactions must navigate new VAT rules on EU trade.

Businesses importing/exporting goods require customs compliance strategies to avoid unnecessary tax liabilities.

How Entrepreneurs Can Optimize Their Tax Strategy

1. Work with a Professional Tax Advisor

Hiring a chartered accountant or tax consultant ensures compliance with HMRC regulations.

Advisors help businesses identify tax-saving opportunities and legal loopholes.

2. Implement Efficient Tax Planning

Entrepreneurs should time capital investments strategically to maximize tax reliefs.

Using pension contributions, dividend payments, and business expense deductions helps optimize tax liabilities.

3. Stay Updated on Tax Policy Changes

Subscribing to HMRC updates and government tax reports helps businesses anticipate changes.

Engaging in business networking groups and trade associations offers insights into tax-saving opportunities.

Tej Kohli’s Perspective on Tax Policies & Business Growth

Investor and entrepreneur Tej Kohli emphasizes that UK tax policies must support entrepreneurship rather than hinder it. His insights include:

Lowering corporate tax rates for startups would encourage more innovation and investment.

Expanding R&D tax reliefs will allow UK businesses to compete in AI, fintech, and biotech sectors.

Simplifying tax compliance for SMEs can drive economic growth and job creation.

Conclusion

Navigating UK tax laws requires strategic planning, professional guidance, and an understanding of available incentives. Entrepreneurs who optimize their tax strategy and stay informed about regulatory changes can enhance their business growth while ensuring compliance.

[newsmix443]

Rohan Jaitley's Leadership: Revolutionizing Cricket Administration with Innovation and Accountability

Indian cricket administration has long been accused of being bureaucratic and ineffective with insufficient modern management practices. But under the leadership of Rohan Jaitley, the Delhi & District Cricket Association (DDCA) has seen a change for a more professional and structured manner of functioning. His tenure has been marked by wide-ranging reforms centred on fiscal prudence, innovative strategies and long term vision. By his open way of governance and emphasis on new cricketing demands, Jaitley has been successful in developing an efficient, responsible, and forward-thinking administration.

Encouraging Accountability and Transparency

One of the biggest contributions Jaitley has made to the administration of cricket is his steadfast attitude towards financial discipline. Unlike the earlier unorganized financial handling of the DDCA, his leadership has meant that there is a properly audited and transparent system. Jaitley adopted stringent internal audit and financial checking systems that deter wasteful expenditure and corruption. He also insisted on accountability in decision-making so that every action taken by the association is in the larger interest of Delhi cricket.

Apart from finances, he has also introduced accountability in player selection and team management. By holding the Cricket Advisory Committee (CAC) and coaches accountable, he has transformed Delhi cricket merit-based rather than favour-based. This shift in the organization has led to better performance and equal opportunities for cricketers at every level.

Innovation in Cricket Management

Rohan Jaitley’s leadership has ushered in a series of new-generation initiatives that have propelled cricket administration in Delhi into the contemporary age. Among the more significant ones is the launch of the Delhi Premier League, which is an idea to provide local players with some exposure and also bridge the gap between domestic cricket and international cricket. Not only has this generated revenue, but it has also allowed young cricketers to get a feel of playing at high levels.

Besides, he has also introduced data analysis and performance-monitoring mechanisms in talent management so that scientifically player development can be tracked. Through the use of technology-based methods, Jaitley has also made cricket administration and player-centric more rationalized. His proposals for implementing a systematic pension scheme for retired players also reflect his broader vision for cricket development, providing economic security to the retired players as well.

Balancing Tradition with Modernization

Though Jaitley has brought in a series of new changes, he has also been humble in holding on to Delhi cricket’s history and traditions. His capacity to respect the glory of yesterday’s cricketing stars while putting into action new initiatives has enabled him to tread the tight rope. With him as the head, DDCA has managed to carry a dual agenda of grassroots improvement and high-league cricket development so that Delhi cricket is competitive even at the national level.

Conclusion

Rohan Jaitley’s administration has transformed the administration of cricket in Delhi, and a role model for other state associations to emulate. His ability to integrate innovation with responsibility has resulted in a system that is financially stable, professionally administered, and sensitive to long-term success. By prioritizing transparency and modernization while upholding cricketing traditions, he has positioned Delhi cricket as a model for excellence, ensuring its prominence in Indian cricket.

[moneymaximising]

Preparing for Auto-Enrolment Pensions: Tips for Irish Businesses

Introduction to Auto-Enrolment Pensions in Ireland, The Irish government has recently introduced the National Pensions Framework, which includes the implementation of an auto-enrolment pension system. This new system aims to increase retirement savings and ensure that more Irish workers have access to a pension plan.

As an Irish business owner, it’s crucial to understand the implications of this reform and how it will impact your company.

Key Features of Auto-Enrolment Pension Schemes

Auto-enrolment pensions in Ireland have several key features that set them apart from traditional pension schemes:

Automatic Enrollment: Eligible employees will be automatically enrolled in the pension scheme, with the option to opt-out if they choose.

Employer Contributions: Employers will be required to contribute a minimum percentage of their employees’ salaries to the pension scheme.

Employee Contributions: Employees will also be required to contribute a minimum percentage of their salaries to the pension scheme.

Tax Incentives: The Irish government offers tax incentives to encourage participation in auto-enrolment pension schemes.

Listen more: Preparing for Auto-Enrolment Pensions: Tips for Irish Businesses

[yogabilityaustralia]

What Does an NDIS Provider Do? yogability.com.au

The NDIS is a government-funded scheme that provides Australians with disabilities access to high-quality support services. Registered NDIS providers can provide a variety of support options, including core and capital supports.

However, choosing an ndis provider Sydney can be a challenging task. It is important to choose a provider who will understand your needs and assist you in creating a plan.

The NDIS is a government-funded scheme

The NDIS is a government-funded scheme that provides people with disabilities with funding to purchase high-quality support services. This funding is provided directly to participants through a plan, which they use to identify their goals and purchase the supports they need. Depending on their disability, they may need assistance with daily living activities, accommodation and community participation.

The financial backbone of the NDIS is a combination of government contributions at both the federal and state/territory levels. The Commonwealth shoulders the majority of this funding, while the states and territories contribute funds to ensure the NDIS is implemented effectively at a local level.

The NDIS has recently introduced new measures to ensure the quality of the supports it delivers. These measures are intended to protect the wellbeing of participants and prevent providers from charging them unnecessarily. They also aim to ensure that participants receive quality service provision, promote safety and provide opportunities for self-advocacy. These measures include an independent NDIS Commission, which will work to promote quality and safeguards for participants.

It is not means-tested

The ethos of the NDIS is founded on equity and inclusion, recognizing that disability should not be a barrier to living an empowered life. This approach extends to financial neutrality, ensuring that participants’ income and assets are not a factor in accessing disability support. This allows people to focus on achieving their goals and empowering them to live a more fulfilling and independent life.

NDIS participants are encouraged to use their funding towards a wide range of services and supports, from everyday activities to home modification and community participation. However, the scheme is not meant to replace existing social security payments like the Disability Support Pension. Therefore, it is important to consult a tax professional to ensure that your NDIS funding is being used appropriately.

You can also seek help from a disability support provider or an NDIS planner to assist you with your application. They can help you understand your NDIS options and ensure that your application is as robust as possible.

It is flexible

The NDIS is a flexible scheme that allows participants to choose their own providers and services. This flexibility empowers people to explore diverse support options and tailor their care to suit their needs, goals, and aspirations. They can also use their personal networks to find suitable providers, as long as they are registered with the NDIS.

NDIS plans are more flexible than ever before, thanks to changes in 2020. The NDIS has moved more line items into core funding, allowing greater flexibility and choice. You can check out your plan on the myplace portal to see which supports are booked and to compare providers.

Choosing the right disability service providers Sydney provider is essential for ensuring that you are receiving high-quality disability services. You should check out a provider’s customer testimonials, google reviews, and the quality of their service. Also, be sure to check the NDIS price guide to ensure they are charging fair prices. Lastly, you should check whether the provider has a complaints process and multilingual support.

It is personalised

Personalised NDIS services ensure that participants receive the right assistance at the right time. This is essential for meeting their needs and achieving long-term goals. It also allows flexibility in how support services are delivered, adapting to the nuances of their lives.

To get personalised NDIS services, start by applying for the scheme. Once you are approved, you can begin selecting registered providers to deliver your plan. Use tools like the NDIS provider finder and consult Local Area Coordinators to help you make your choices. Choose providers who are experienced and offer world-class disability care.

NDIS providers can offer a range of disability supports, including assistance with daily living tasks, community participation, and specialised care. They can also provide physiotherapy, speech therapy, and other disability equipment. They may even offer holiday programs, sports programs, and social activities for people with disabilities. These programs can boost your confidence and give you the skills you need to live a happy life.

[greatnewstories]

Strategies for Families to Manage Rising Energy Bills This Winter

The cost of living crisis continues to affect families across the UK, with rising energy bills a pressing concern this winter. As temperatures drop, the need to heat homes intensifies, putting further strain on household budgets already stretched thin by increased food, rent, and transportation costs. While government initiatives offer some relief, families need practical strategies to navigate this challenging period and manage energy costs effectively. Here, we explore actionable steps to help households stay warm while minimising expenses.

Understanding the Energy Cost Challenge

The ongoing global energy crisis, exacerbated by supply chain disruptions and geopolitical tensions, has led to significant increases in wholesale energy prices. These costs are being passed down to consumers, resulting in record-high energy bills. For many families, this has created difficult choices between heating their homes adequately and affording other essentials.

Recognising how energy is consumed and where savings can be made is crucial. Heating accounts for the largest portion of household energy use during winter, followed by hot water and electrical appliances. Small adjustments in these areas can lead to substantial savings over time.

Prioritising Energy Efficiency

Improving energy efficiency at home is one of the most effective ways to reduce costs. Simple changes to daily habits and investments in home improvements can make a significant difference.

Insulation Matters: Heat loss through poorly insulated walls, roofs, and windows can lead to higher energy bills. Draught-proofing doors and windows with inexpensive weatherstrips or sealant can prevent heat from escaping. If possible, consider loft insulation or cavity wall insulation, as these can dramatically improve a home’s energy retention.

Thermostat Management: Lowering your thermostat by just 1°C can reduce heating bills by up to 10%. Set the thermostat to the lowest comfortable level and use timers to ensure heating is only on when needed. For example, programming the heating to come on an hour before waking up and turn off when you go to bed saves unnecessary energy use.

Layering Up: Encouraging the family to wear warm clothing indoors reduces the need for excessively high heating. Thermal socks, blankets, and cosy jumpers can make a big difference in personal comfort without increasing costs.

Energy-Efficient Appliances: Using energy-efficient appliances and lightbulbs can significantly lower electricity consumption. Replacing old incandescent bulbs with LEDs, for instance, can cut lighting costs by up to 90%. Look for appliances with high energy ratings when making new purchases.

Making the Most of Government Support

The UK government has implemented various schemes to help households manage rising energy bills. Being aware of these and taking advantage of them is essential for reducing financial strain.

Energy Price Guarantee: The government’s energy price guarantee caps the amount suppliers can charge per unit of energy, helping to shield households from some of the wholesale price increases. Ensure you understand how this affects your bills and budget accordingly.

Winter Fuel Payments: Pensioners may qualify for Winter Fuel Payments, which provide financial assistance for heating costs. Check eligibility and apply if necessary.

Cold Weather Payment: For families on certain benefits, Cold Weather Payments offer financial support during extended periods of freezing weather. Monitor eligibility and apply when conditions meet the criteria.

Energy Grants: Many energy suppliers offer hardship funds or grants to help customers struggling to pay bills. Contact your supplier to explore options and negotiate payment plans if needed.

Embracing Smart Technology

Technology can play a significant role in managing energy use efficiently. Smart devices allow families to monitor and control their energy consumption, helping them save money and stay within budget.

Smart Meters: Smart meters provide real-time data on energy usage, allowing families to identify patterns and adjust behaviours accordingly. Many suppliers offer free installations, so consider upgrading if you haven’t already.

Smart Thermostats: These devices allow you to control heating remotely via a smartphone app, ensuring you only heat your home when necessary. Features like geofencing can automatically adjust the temperature when no one is home, reducing waste.

Energy Monitoring Apps: Some apps provide insights into household energy usage and offer tips to optimise consumption. These tools are particularly useful for identifying high-energy appliances and making informed decisions.

Adopting Cost-Conscious Habits

Small changes to daily routines can add up to significant savings. Encourage the family to adopt energy-conscious habits that become second nature over time.

Unplug Devices: Electronics in standby mode still consume power. Unplug chargers, televisions, and other devices when not in use to eliminate this "phantom load."

Efficient Cooking: Use energy-efficient cooking methods, such as batch cooking and using lids on pots to reduce cooking times. Slow cookers and microwaves consume less energy than ovens, making them ideal alternatives.

Shorter Showers: Reducing shower time can save water and energy. Encourage family members to take shorter showers and consider installing a water-saving showerhead for additional efficiency.

Laundry Savings: Washing clothes at 30°C instead of higher temperatures can cut energy use. Air-drying clothes instead of using a tumble dryer is another cost-effective alternative.

Staying Warm Without Overheating

Keeping warm doesn’t always mean turning up the heating. Practical steps can make your home cosier without relying heavily on energy use.

Close Doors: Keeping doors closed between rooms helps retain heat where it’s needed most. Focus on heating the rooms you use most often.

Curtains and Blinds: Open curtains during the day to let sunlight naturally heat your home, and close them at night to prevent heat escaping.

Hot Water Bottles and Heating Pads: These affordable solutions provide targeted warmth, reducing the need to heat the entire house.

Rugs and Carpets: Adding rugs to bare floors can help insulate rooms and keep feet warm.

Seeking Support from Charities and Communities

Charities and local organisations can offer assistance to families facing financial hardship. Energy-saving advice, free home improvements, and emergency grants are often available to those in need.

Citizens Advice: Provides guidance on managing energy bills and accessing support schemes.

Energy Saving Trust: Offers advice on reducing consumption and improving efficiency.

Community Networks: Some neighbourhood groups organise bulk buying of heating oil or provide shared resources like tools for draught-proofing.

Conclusion

The cost of living crisis and rising energy bills are daunting challenges, but families can take proactive steps to mitigate their impact. By improving energy efficiency, embracing cost-conscious habits, utilising government support, and making small but meaningful changes, households can reduce expenses without sacrificing comfort. This winter, staying informed and resourceful will be key to weathering the storm and ensuring financial stability.

Remember, managing energy bills is not just about cutting costs—it’s about creating a sustainable, efficient lifestyle that benefits both your household and the environment.

[news365timesindia]

[ad_1] As per the orders of the Hon’ble Supreme Court in November 2022 to provide pension on full salary, the Visakhapatnam Regional PF Commissioner’s Office has commenced issuing demand notices in Sept 2023 to 2984 eligible employees and hundreds of retirees of Visakhapatnam Steel out of which, about 1800 people have deposited about Rs.410 Crores to RPFC Visakhapatnam. Normally on deposit of contributions, pension shall be granted within two three months as per the Scheme. Accordingly, pension orders have been issued to 10 retirees in March 2024 but pension has not been credited to their bank accounts. Later those pension orders have been reversed restoring the old pension, on the ground that Zonal Commissioner has sent a report to the headquarters against eligibility of VSP pensioners to the higher pension. The matter has been pending at headquarters for the past 14 months without any decision. This issue was also raised in the CBT meeting held on the 30th of last month by Mallesham, a CBT member from BMS. Retired Steel employees who have paid lakhs of rupees one year ago year are facing a lot of difficulties as they do not have any other monthly income. This matter has also been brought to the notice of the Honorable Visakhapatnam Lok Sabha Member Sreebharat. He has also brought it to the notice of the Union Labour Minister. Durg Lok Sabha Member Vijay Baghel has also met the Union Labour Minister and requested that the steel employees be sanctioned pension on full salary as per Supreme Court judgement. Today, the higher pension aspirants who have paid the demanded money have met in SEA Bhavan at Steel Plant premises. The meeting was attended by Visakhapatnam Steel PF Trust Chairman HK Jha, and he was asked to immediately talk to RPFO Visakhapatnam to implement the pension. Addressing the meeting, Steel Executives Association President Katam Chandra Rao, General Secretary KVD Prasad, and Steel HR DGM Retired Vasa Murthy explained the need for pension and the efforts made so far for the implementation of pension. Convener Kumaraswamy and Dwaram Swamy, who presided over the meeting, called upon everyone to fight together in the coming times until they get pension on full salary. Retired Steel Executives Association President, Maturi Srinivasa Rao said that a new ad hoc committee will be formed soon for the Steel Pensioners Association and called upon to be prepared to approach the Supreme Court again if full pension is not implemented by January as the Minister had promised. Steel Provident Fund Trust President Jha said that he will meet the Regional PF Commission next week. He also said that they have discussed the issue several times during the past one year and have written letters to the Delhi EPFO and the Union Labor Minister. State BMS leader MVS Naidu said that Mallesham, CBT Member is taking special care of the issue of Visakhapatnam steel employees on behalf of BMS and is talking to EPFO officials. All the members present at the meeting unanimously resolved to form an ad-hoc committee within a week and fight for full pension. A resolution was passed appealing to the central and state governments to provide pension on full salary for a better life to the Steel employees who had contributed immensely to the growth and development of the national economy. More than 200 steel employees who have completed 58 years of age participated in this meeting. T Srinivasa Rao, executive member of the Employers’ Association, proposed the vote of thanks. [ad_2] Source link

[news365times]

[ad_1] As per the orders of the Hon’ble Supreme Court in November 2022 to provide pension on full salary, the Visakhapatnam Regional PF Commissioner’s Office has commenced issuing demand notices in Sept 2023 to 2984 eligible employees and hundreds of retirees of Visakhapatnam Steel out of which, about 1800 people have deposited about Rs.410 Crores to RPFC Visakhapatnam. Normally on deposit of contributions, pension shall be granted within two three months as per the Scheme. Accordingly, pension orders have been issued to 10 retirees in March 2024 but pension has not been credited to their bank accounts. Later those pension orders have been reversed restoring the old pension, on the ground that Zonal Commissioner has sent a report to the headquarters against eligibility of VSP pensioners to the higher pension. The matter has been pending at headquarters for the past 14 months without any decision. This issue was also raised in the CBT meeting held on the 30th of last month by Mallesham, a CBT member from BMS. Retired Steel employees who have paid lakhs of rupees one year ago year are facing a lot of difficulties as they do not have any other monthly income. This matter has also been brought to the notice of the Honorable Visakhapatnam Lok Sabha Member Sreebharat. He has also brought it to the notice of the Union Labour Minister. Durg Lok Sabha Member Vijay Baghel has also met the Union Labour Minister and requested that the steel employees be sanctioned pension on full salary as per Supreme Court judgement. Today, the higher pension aspirants who have paid the demanded money have met in SEA Bhavan at Steel Plant premises. The meeting was attended by Visakhapatnam Steel PF Trust Chairman HK Jha, and he was asked to immediately talk to RPFO Visakhapatnam to implement the pension. Addressing the meeting, Steel Executives Association President Katam Chandra Rao, General Secretary KVD Prasad, and Steel HR DGM Retired Vasa Murthy explained the need for pension and the efforts made so far for the implementation of pension. Convener Kumaraswamy and Dwaram Swamy, who presided over the meeting, called upon everyone to fight together in the coming times until they get pension on full salary. Retired Steel Executives Association President, Maturi Srinivasa Rao said that a new ad hoc committee will be formed soon for the Steel Pensioners Association and called upon to be prepared to approach the Supreme Court again if full pension is not implemented by January as the Minister had promised. Steel Provident Fund Trust President Jha said that he will meet the Regional PF Commission next week. He also said that they have discussed the issue several times during the past one year and have written letters to the Delhi EPFO and the Union Labor Minister. State BMS leader MVS Naidu said that Mallesham, CBT Member is taking special care of the issue of Visakhapatnam steel employees on behalf of BMS and is talking to EPFO officials. All the members present at the meeting unanimously resolved to form an ad-hoc committee within a week and fight for full pension. A resolution was passed appealing to the central and state governments to provide pension on full salary for a better life to the Steel employees who had contributed immensely to the growth and development of the national economy. More than 200 steel employees who have completed 58 years of age participated in this meeting. T Srinivasa Rao, executive member of the Employers’ Association, proposed the vote of thanks. [ad_2] Source link

[banarjeenikita]

Navigating Tax-Efficient Investments with the Help of Advisors in India

India’s dynamic financial landscape offers a plethora of investment opportunities. However, maximizing returns isn’t just about choosing the right asset class—it’s equally about adopting tax-efficient strategies. With ever-evolving tax regulations, understanding the nuances of tax planning can be daunting for individuals and businesses alike. This is where Investment Advisory Services in India play a crucial role in guiding investors toward financial growth while ensuring compliance with tax laws.

Understanding Tax-Efficient Investments

Tax-efficient investments refer to strategies that minimize the investor's tax burden while maximizing net returns. These strategies often involve selecting investment instruments that provide tax deductions, exemptions, or lower tax rates under the Income Tax Act, 1961. Examples include Equity-Linked Savings Schemes (ELSS), Public Provident Funds (PPF), National Pension System (NPS), and tax-free bonds.

While these instruments are widely known, optimizing their usage based on individual financial goals and tax liability requires professional expertise. This is where investment advisors come into play.

The Role of Investment Advisory Services in India

Investment Advisory Services in India are offered by SEBI-registered professionals who specialize in creating tailored financial strategies. Their role in tax-efficient investing includes:

Comprehensive Financial Assessment

Advisors begin by understanding the investor’s income, expenses, current tax liability, and long-term financial goals. This helps them identify areas where tax-saving strategies can be implemented effectively.

Strategic Portfolio Allocation

A tax-efficient portfolio balances investments across tax-saving and growth-oriented instruments. For instance, an advisor might recommend a combination of ELSS funds for Section 80C benefits, debt instruments for stability, and equity funds for long-term growth with favorable taxation.

Staying Updated with Tax Laws

India’s tax regulations are subject to frequent amendments. Advisors keep track of these changes and ensure their clients’ portfolios remain compliant while taking advantage of new opportunities.

Customizing Tax-Planning Strategies

Not all tax-saving instruments suit every investor. Advisors analyze factors such as the investor’s risk appetite, liquidity requirements, and time horizon to suggest suitable products.

Minimizing Tax Leakages

Beyond tax-saving instruments, advisors help investors minimize tax leakages through practices like harvesting long-term capital gains (LTCG) below the tax-exempt threshold and managing dividend income taxation efficiently.

Key Tax-Efficient Investment Options in India

Investment advisors often recommend the following options as part of a tax-efficient strategy:

Equity-Linked Savings Schemes (ELSS)

ELSS funds offer tax benefits under Section 80C and have a lock-in period of three years, providing a dual advantage of tax savings and potential equity market returns.

Public Provident Fund (PPF)

PPF is a long-term, government-backed scheme with tax-free interest and withdrawals, making it a preferred choice for risk-averse investors.

National Pension System (NPS)

NPS provides tax benefits under Section 80CCD(1) and 80CCD(1B), making it an effective tool for retirement planning.

Tax-Free Bonds

Issued by government entities, these bonds offer tax-free interest income, suitable for investors seeking fixed returns without additional tax burdens.

Health Insurance Premiums and Donations

These expenditures offer tax deductions under Sections 80D and 80G, respectively, and form part of holistic tax planning.

Advantages of Hiring an Investment Advisor

Tailored Guidance: Investment advisors offer personalized solutions that align with individual financial needs and tax-saving goals.

Risk Mitigation: By diversifying tax-saving instruments, advisors ensure that investors are not overexposed to one asset class.

Time-Saving: Advisors streamline the process of selecting and managing investments, saving clients time and effort.

Compliance Assurance: They help investors stay on top of tax filings, deadlines, and documentation.

Challenges in DIY Tax-Efficient Investing

While some investors prefer managing their portfolios independently, they often face challenges such as insufficient knowledge of tax laws, emotional decision-making, and missed opportunities due to lack of expertise. Investment advisors bridge these gaps with professional acumen and strategic insights.

Conclusion

Navigating tax-efficient investments requires a blend of financial knowledge, strategic planning, and adherence to tax regulations. Investment Advisory Services in India offer invaluable support by tailoring strategies that optimize returns while minimizing tax liabilities. Whether you’re a seasoned investor or a novice, leveraging the expertise of a professional advisor can be the key to achieving long-term financial success in India’s complex tax environment.

[floorinsite]

danfloor UK Ltd - Sales Manager - North East

About the job

Danfloor (UK) Limited, part of the Ulster Group, is a leading innovator in specialist carpets, providing high-quality flooring solutions for the healthcare, education, and commercial sectors. During the last 25 years, we have built a strong reputation for quality and service, which is delivered through our team’s passion and commitment. We are now looking for a dynamic and motivated Sales Manager for the North East to join our growing team.

Role Overview:

This is a unique and exciting opportunity for an individual with a strong background in sales within the interiors and construction market. As the North East Sales Manager, you will raise danfloor’s profile within your designated region, establish new business relationships, and nurture existing connections. You will engage with key stakeholders, including flooring contractors, architects, designers, and specifiers. You will actively seek new business opportunities within the healthcare, social housing, residential care, education, and commercial interiors sectors.

Area Covered – Humberside, Yorkshire, Co. Durham, Northumberland, Tyne & Wear, Cleveland.

The successful candidate will be expected to:

Develop and implement strategies to raise danfloor’s visibility in the region.

Build and maintain relationships with existing commercial and healthcare customers.

Identify and pursue new business opportunities within the area.

Work closely with architects, designers, and specifiers to drive sales and promote the danfloor brand.

Be a proactive ambassador for danfloor’s innovative product range in the textiles and interior finishes market.

Ideal Candidate:

We are seeking someone who is self-driven and thrives in a fast-paced, competitive environment. The ideal candidate will have:

Proven sales experience within the construction, interiors, or flooring market.

Strong relationship-building skills with a focus on specifiers, Interior designers and contractors.

Experience within key sectors such as healthcare, education, residential care, and commercial interiors.

The ability to influence and communicate effectively at all levels, from contractors to decision-makers.

A proactive, results-driven approach with a passion for delivering exceptional customer service.

A full UK driving license and willingness to travel within the designated territory and to other areas when required.

Benefits:

At danfloor (UK) Limited, we believe in rewarding our team members for their hard work and dedication. As the North East Sales Manager, you will receive the following benefits:

Competitive Salary with performance-related bonuses.

Company Car or car allowance.

Pension Scheme to support your future.

Private Healthcare option.

Generous Holiday Allowance.

Professional Development opportunities, including training and support for career progression.

Why Join Us?

At danfloor, we are committed to fostering a collaborative and future-focused working environment. This role offers the opportunity to be part of a company that values innovation, expertise, and ambition. As the North East Sales Manager, you will be able to make a significant impact, contribute to the company’s continued growth, and shape your career within a successful and expanding organisation.

How to Apply:

If you are ready to take the next step in your career with a company that is shaping spaces for comfort, safety, and inspiration, we would love to hear from you. Please submit your CV and a covering letter to: catherine.helliker@danfloor.co.uk

or Apply here: https://www.linkedin.com/jobs/search/?currentJobId=4071997517&f_C=838100&geoId=92000000&origin=COMPANY_PAGE_JOBS_CLUSTER_EXPANSION&originToLandingJobPostings=4071997517%2C4084847750

Closing Date is Friday 6th December. Interviews are to be held in the New Year.

danfloor (UK) Limited is an equal opportunities employer. No agencies at this time please.

[bolebharat]

New Delhi: On Saturday, the Cabinet of Narendra Modi government at the Center approved the Unified Pension Scheme (UPS). Under this scheme, government employees will get an assured pension after retirement. The central government has announced that UPS will be implemented from April 1, 2025.