Q1.
(I) Public pensions are offered by life insurance companies, banks, mutual funds or other financial institutions.
(II) Personal pensions are Social Security schemes run by the government of the respective countries.
Q2.
Defined Contribution Plan assures the contributors a pre-defined pension payment irrespective of their contributions to the scheme or its investment earnings.
Q3.
Employee Stock Ownership Plans (ESOP) scheme hold at least _________ of assets in the sponsoring firm’s stock.
Q4.
ESOPs are required by regulation to diversify funds in their ESOPs accounts on reaching the age of _________.
Q5.
(I) Under Traditional IRA, individuals participating in employer-sponsored plans make tax-deductible contributions to IRA.
(II) Under Roth IRAs, contributions are not tax deductible, but withdrawals during retirement from plans are exempt from taxation.
Q6.
The formal sector pension schemes comprise mainly schemes for Government employees and schemes for the organized workforce.
Q7.
The Civil Services Pension Scheme covers Central and State Government employees, a total workforce of approximately ____________ individuals.
Q8.
The age of superannuation for Government of India employees is _________ years.
Q9.
A minimum of _______ of service is required to be able receive a pension for Government of India employees.
Q10.
Under Article ___________ of the constitution, the Government is bound to provide social security services for all citizens.
Q11.
The 5th Pay Commission had recommended a uniform rate of ____________ of pensionable pay for family pension for Government of India employees.
Q12.
The General Provident Fund for Government of India employees is a defined contribution plan with a minimum __________ contribution from the employee and no contribution from the Government.
Q13.
The retirement gratuity payable for Government of India employee is 161/2 times the Basic Pay, subject to a maximum of ___________.
Q14.
What is the minimum income below which contribution to the PF is compulsory for an employee?
Q15.
Who manages the Employees Provident Fund (EPF) and Employees’ Pension Scheme?
Q16.
Employees Provident Fund covers firms in ________ scheduled industries (excluding the State of Jammu & Kashmir?
Q17.
Employees’ Pension Scheme-95 came into effect from :
Q18.
What is the defined benefit formula for calculating returns on EPS?
Q19.
What are the commutation stipulations under the EPS?
Q20.
Employees’ Deposit Linked Insurance Scheme (EDLIS) provides a life insurance cover for the members of the EFP without the payment of a special premium.
Q21.
The wages contributed towards EDLIS by the employer is:
Q22.
The balances of the EDLI Fund are required to be maintained in the Public Account of the Government of India on which the Government pays a __________ rate of interest.
Q23.
Under the current income Tax Act provisions, an employer can contribute an amount which, along with employer’s contribution to the provident fund would not exceed _______ of basic and dearness allowance.
Q24.
The pension plans for the organized sector is/are:
Q25.
(I) Defined Contribution plan is based on individual’s contribution.
(II) The objective of PFRDA is to promote old age income security.
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