Annuities as a Pillar of India’s Retirement Framework: Ensuring Long-Term Financial Security
1 month ago

Annuities as a Pillar of India’s Retirement Framework: Ensuring Long-Term Financial Security

Live Mint  

Planning for retirement isn’t just about saving. Here’s what they offer: Financial Security in Golden Years Pension Income Sufficient Savings for Medical Expenses Leaving a Legacy Are Urban Indians Financially Prepared for Retirement? Importance of Pension Plans for Salaried Workers Structured pension plans like the Axis Max Life Smart Guaranteed Pension Plan and Axis Max Life Smart Wealth Advantage Guarantee Pension Plan offer financial security tailored for salaried individuals. Reduced tax outgo on contribution Self-employed individuals who have opted for the old tax regime can get tax benefits by contributing to pension plans. Let’s understand the benefits that pension plans such as Axis Max Life Smart Wealth Advantage Guarantee Pension Plan and Axis Max Life Smart Guaranteed Pension Plan provides as a retirement instrument for different age groups: Locked-in Savings Since pension plans feature a long-term lock-in, subscribers are not able to take their money out prematurely.

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History of this topic

Why NPS should be a part of your retirement plan? 5 things to know
1 month ago

Why NPS should be a part of your retirement plan? 5 things to know

India Today  

Retirement planning is essential to a stress-free and financially secure future. Higher Returns with NPS When compared to traditional fixed-income investments like fixed deposits and Public Provident Funds, NPS offers superior returns over the long run. Investments under NPS are overseen by qualified pension fund managers, ensuring the majority of your contributions are invested towards wealth creation rather than paying …

Why NPS can be your only retirement plan
1 month, 2 weeks ago

Why NPS can be your only retirement plan

New Indian Express  

The benefits of the National Pension Scheme significantly far outweigh the effort needed to learn and understand about investing. For years, you have put aside money for your retirement through employee provident funds, public provident funds, other government guarantee schemes or fixed deposits. Pension schemes across many countries in Europe are based on government guarantees. In India, 32.7 crore people …

Economic Survey 2024-25: One thing India needs to avoid a Greece and Italy-like pension crisis
1 month, 3 weeks ago

Economic Survey 2024-25: One thing India needs to avoid a Greece and Italy-like pension crisis

Firstpost  

When it comes to pension schemes, the survey said, the traditional “Pay-As-You-Go” schemes do not ensure that funding from the younger workforce that pays pensions to retirees changes with a change in demography The Economic Survey 2024-25 tabled by Finance Minister Nirmala Sitharaman in Lok Sabha on Friday warned that India needs to steer clear of entering a pension crisis …

Securing India’s retirement future: Deepak Mohanty’s vision for the National Pension System
2 months, 1 week ago

Securing India’s retirement future: Deepak Mohanty’s vision for the National Pension System

Live Mint  

The National Pension System introduced in 2004 for government employees has since been extended to others but adoption has been slower than desired, said Deepak Mohanty, chairperson of the Pension Fund Regulatory and Development Authority, at the 17th edition of the Mint BFSI Summit and Awards on Friday. Underscoring a pressing need for greater pension coverage given India’s rapidly ageing …

The National Pension System was tweaked for flexibility but awaits tax clarity
2 months, 2 weeks ago

The National Pension System was tweaked for flexibility but awaits tax clarity

Live Mint  

The latest tweaks to India’s National Pension System improve an already excellent retirement saving scheme. The NPS has one of the world’s lowest charges for fund management—about 0.06% of the assets managed, a sharp contrast with the 2% that mutual funds typically charge. Populist pressure made the government extend to NPS the same tax treatment that had been bestowed on …

NPS Vs PPF: Choosing The Right Retirement Plan For Your Future
3 months, 3 weeks ago

NPS Vs PPF: Choosing The Right Retirement Plan For Your Future

ABP News  

NPS Vs PPF: As retirement planning gains importance, consistent investments over the years have become the cornerstone of creating a robust financial corpus. PPF suits those seeking low-risk, guaranteed returns, while NPS offers higher growth potential through diversified market-linked investments. Both plans offer tax benefits under Section 80C of the Income Tax Act, though NPS allows an additional deduction of …

Budget 2024: Central govt employees may receive 50 per cent of last drawn salary as pension under NPS
8 months, 2 weeks ago

Budget 2024: Central govt employees may receive 50 per cent of last drawn salary as pension under NPS

India TV News  

As the Finance Ministry prepares to present the 2024–25 fiscal year budget, the National Democratic Alliance government is contemplating a significant reform for central government employees. According to a report by the Times of India, the government may offer 50% of the last drawn salary as a pension under the National Pension System. Addressing employee concerns This proposed move aims …

NPS vs VPF: A Comparative Analysis of Interest Rates and Investment Features
10 months ago

NPS vs VPF: A Comparative Analysis of Interest Rates and Investment Features

India TV News  

Choosing the right retirement planning scheme is a crucial decision that can significantly impact your financial future. Today, we will compare the VPF and NPS interest rates, investment features, and other key aspects, to help make an informed decision for retirement planning. Difference Between VPF and NPS Let’s look at the differences between VPF and NPS interest rates, investment features, …

NPS scheme may get a makeover in Interim Budget 2024
1 year, 2 months ago

NPS scheme may get a makeover in Interim Budget 2024

India Today  

India is expected to consider extending tax concessions on contributions and withdrawals in the upcoming Interim Budget 2024, in an effort to make the National Pension Scheme more attractive, as per a Deloitte report The government might specifically focus on individuals aged 75 and above. Corporations enjoy tax exemptions for contributions up to 10 per cent of the basic salary …

The Old Pension Scheme wildfire must be stopped before it’s too late
1 year, 4 months ago

The Old Pension Scheme wildfire must be stopped before it’s too late

Live Mint  

The political battle between protecting the National Pension System and going back to the Old Pension Scheme is heating up, thanks to the various state elections just started. Public opinion and voter passion is being stirred by presenting the OPS as ‘pro-people’ and NPS as ‘anti-people.’ Meme creators and slogan writers are busy making graphic and emotive campaigns. OPS guarantees …

National Pension System: From Tax Benefits, Schemes To Withdrawal. Know Everything About The Pension Scheme
2 years ago

National Pension System: From Tax Benefits, Schemes To Withdrawal. Know Everything About The Pension Scheme

ABP News  

If you are considering an avenue to invest for retirement planning, then you can consider National Pension System as it offers a range of investment options and a choice of pension fund schemes. NPS Tier-1 account Tier I – Pension account Minimum Contribution during A/C opening is Rs.500 for Tier I NPS Tier-2 account Tier II – Investment account The …

National Pension System (NPS): Why you must opt for this scheme
2 years ago

National Pension System (NPS): Why you must opt for this scheme

Live Mint  

NPS offers a high degree of flexibility to subscribers' in making their contributions, choice of fund manager and allocation of investments according to one’s risk appetite. 2) Husband-wife duo can enroll: Since NPS is an individual pension account, self-employed couples who run their family business can open separate NPS accounts and avail the tax benefits in their individual capacity. Not …

Rs 65 Lakh Ideal Retirement Corpus; People Realising Importance Of Annuity, Says Report
2 years ago

Rs 65 Lakh Ideal Retirement Corpus; People Realising Importance Of Annuity, Says Report

News 18  

‘Retirement is a pause and not a stop.’ is the current attitude of Indians towards one of the most important milestones in their lives. The findings of ‘Is India prepared for retirement?‘, a study by ICICI Prudential Life Insurance, showed that retirement is viewed positively as a time full of possibilities. Manish Dubey, chief marketing officer, ICICI Prudential Life Insurance, …

Why you should consider National Pension System (NPS) over other annuity scheme?
2 years ago

Why you should consider National Pension System (NPS) over other annuity scheme?

Live Mint  

NPS scheme: The National Pension System helps in creating a stable income source for every individual post-retirement. According to tax and investment experts, NPS provided an affordable investment model among other annuity plans available in the market along with income tax benefits. On why one should choose NPS over other annuity schemes available in market, Sreekanth Nadella, MD and CEO …

What is an annuity plan? All you need to know
2 years, 1 month ago

What is an annuity plan? All you need to know

Live Mint  

Many people near retirement age are looking to secure a reliable source of income post-retirement. Typically, in India, most people buy annuity plans to fund their retirement income. Features of annuity plans Here are some of the features of annuity plans: Guaranteed income: After retirement, annuity products provide a guaranteed income. In addition to the fixed or variable payout, the …

Want to secure your finances before retirement? Check these government pension schemes
2 years, 3 months ago

Want to secure your finances before retirement? Check these government pension schemes

Firstpost  

One of the major challenges of retirement is maintaining financial stability. Keeping that in mind, the government has developed a variety of unique pension plans to guarantee the stability and financial security of the country’s elderly population after retirement. Here are some of such government retirement schemes that senior citizens can opt for: National Pension Scheme : The NPS is …

India at 75: Investment options to help millennials create an effective portfolio
2 years, 7 months ago

India at 75: Investment options to help millennials create an effective portfolio

Live Mint  

Millennials today desire something more out of their lives which should be bursting with experiences. Portions of Millennial are generally financially self-sufficient because of their guardians or low self-generated income but proper investment strategies can assist them in managing the money side by side helping in building a bigger corpus. They have a higher risk tolerance and often seek innovative …

NPS scheme: 5 reasons to opt this plan for better return with minimum risk
2 years, 7 months ago

NPS scheme: 5 reasons to opt this plan for better return with minimum risk

Live Mint  

NPS scheme: The National Pension System is a unique pension plan backed by the Government of India, which provides both equity and debt exposure in single investment. Speaking on the reason for NPS scheme gaining popularity among investors, Ajit Kumar, Chief Strategy Officer at KFintech said, "One of the reasons NPS is growing in popularity is its highly simple and …

DC Edit | EPF: Better safe and steady
3 years ago

DC Edit | EPF: Better safe and steady

Deccan Chronicle  

The rate of return from the social security fund of the Employees’ Provident Fund Organisation has nosedived to 8.1 per cent, the lowest since an eight per cent return in 1977-78. Debt market investments, while ideally steady, cannot offer much more than bank interest rates, which are, however, likely to rise marginally once RBI’s growth-oriented accommodative stance changes to deal …

NPS scheme: 5 benefits of National Pension System that you should know
3 years, 8 months ago

NPS scheme: 5 benefits of National Pension System that you should know

Live Mint  

NPS scheme: National Pension System is a retirement-oriented investment option that provides a periodic annuity and a lump sum corpus on the attainment of retirement age. NPS scheme is one of the ideal pension and retirement planning schemes available in India for salaried, self-employed professionals and freelancers like lawyers, doctors, chartered accountants, entrepreneurs, architects and others who work in their …

The Hindu Explains | Why is the government tweaking the National Pension System?
3 years, 11 months ago

The Hindu Explains | Why is the government tweaking the National Pension System?

The Hindu  

The story so far: Started as the New Pension Scheme for government employees in 2004 under a new regulator called the Pension Fund Regulatory and Development Authority, the National Pension System has been open for individuals from all walks of life to participate and build a retirement nest-egg. To avoid forcing people into such an unattractive investment, the regulator has …

Pandemic spurs more private sector enrolments in NPS
4 years, 8 months ago

Pandemic spurs more private sector enrolments in NPS

The Hindu  

The uncertainties emerging out of the COVID-19 pandemic seem to have expedited enrolments in the National Pension System, a voluntary defined contribution pension scheme of the Government of India, as many private sector employees and employers were found to be seeking financial security, post retirement, through pension schemes. As per data released by the Pension Fund Regulatory and Development Authority, …

Understanding the National Pension Scheme: A Beginner’s Guide
5 years ago

Understanding the National Pension Scheme: A Beginner’s Guide

India TV News  

BY ADHIL SHETTY Some investments are meant to be done for the long-term. HOW TO INVEST IN THE NATIONAL PENSION SCHEME If a person has opened a Tier I account under the National Pension Scheme, they will be required to deposit Rs.1,000 per year at the minimum. The key to investing in the National Pension Scheme is to not look …

Plan your retirement with National Pension Scheme
5 years, 1 month ago

Plan your retirement with National Pension Scheme

Hindustan Times  

Looking to increase your retirement fund? The National Pension Scheme is one such scheme that can help you plan your retirement, save tax on it as you invest, and eventually give you a corpus to invest in annuity on your retirement. NPS has a two-tier structure—a pension account that gives tax benefits and is mandatory to open for NPS and …

Moneywise | Navigating the National Pension System
5 years, 3 months ago

Moneywise | Navigating the National Pension System

The Hindu  

The popularity of the National Pension System, the market-linked vehicle, has been soaring with investors desperately seeking retirement options. Which asset classes The NPS allocates your accumulated contributions into four asset classes – Equity, Corporate bonds, Government Bonds and Alternative Investment Funds such as private equity funds, REITs, Invits. So, there’s the Aggressive Lifecycle Fund that starts with a 75% …

Who should opt for annuity?
6 years, 3 months ago

Who should opt for annuity?

Live Mint  

Annuity products are those that one knows as pension plans with two variants in the market: annuity plans available with the insurers and National Pension Scheme, said Suresh Sadagopan, founder of Navi Mumbai-based Ladder7 Financial Advisories. “Annuity products are divided in two stages: accumulation stage where you builds a corpus and after maturity you will receive an annuity in a …

How well have you planned for your post-retirement phase?
9 years, 3 months ago

How well have you planned for your post-retirement phase?

Firstpost  

Present Indian economy is largely characterised by an increasing share of unorganised employment. Opportunely, to support the citizens in their old age planning, India has a growing pension annuity market, where, since a long time, experienced insurers like LIC have been offering various types of annuity plans to suit varied needs of the customers in Indian market. 2.Annuity payable for …

NRIs can now invest in National Pension System-IndiaTV News
9 years, 8 months ago

NRIs can now invest in National Pension System-IndiaTV News

India TV News  

New Delhi: Non-resident Indians can invest in National Pension System to get a social security cover, pension regulator PFRDA's chairman Hemant Contractor said on Wednesday. While RBI has communicated to PFRDA about NRIs being eligible to make such investments, the government will shortly come out with a clarification on Foreign Exchange Management Act guidelines to facilitate non-resident Indians to invest …

A big push to pension plan under study
11 years, 3 months ago

A big push to pension plan under study

The Hindu  

The New Year could see the introduction of a new pensions system in India that will offer retirement savers the option of tapping the high-risk-high-return equity markets. Stock market regulator Securities and Exchange Board of India will in its next board meeting in January take up a proposal to allow mutual fund companies to offer pension plans. Highly placed official …

Retirement savings rule 2: plan for your future goals and needs
13 years, 4 months ago

Retirement savings rule 2: plan for your future goals and needs

China Daily  

This is the VOA Special English Economics Report. Pete D’Arruda says good planning means placing money into financial securities and accounts that have different risk levels, using asset allocation. Even in retirement, Sande Taylor says, some people have their entire financial portfolio, or set of investments, in stocks. SANDE TAYLOR: "The younger individuals look at it and think, 'Well retirement …

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