Pandemic spurs more private sector enrolments in NPS
4 years, 5 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, which administers the NPS, 1.03 lakh new individual subscribers were added in the first quarter of FY21, an increase of 30% from the same period last year, taking the total corporate subscribers to 10.13 lakh in the age group of 18 to 65 years. While financial planning often took a backseat in an individual’s life, this pandemic has brought it to the forefront, creating awareness for financial security at such testing times,” PFRDA chairman Supratim Bandyopadhyay said. “During this pandemic, a growing realisation for both corporates and individuals has emerged that retirement planning is not a mere saving or tax benefit choice,” Mr. Bandyopadhyay added.

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History of this topic

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

Retirement ready: Here are some essential tips for financial security
3 weeks, 6 days ago

Retirement ready: Here are some essential tips for financial security

Live Mint  

The idea of planning for retirement at a young age may seem unconventional to many. Retirement planning is an essential component of a sound financial strategy, providing ample time to address potential challenges that may arise. Here are some tips to ensure financial security in retirement: Setting the foundation: Evaluating financial goals Effective retirement planning begins with assessing financial goals. …

Government change to workplace pension system could benefit millions
4 months, 2 weeks ago

Government change to workplace pension system could benefit millions

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A change to the system …

Budget 2024: Central govt employees may receive 50 per cent of last drawn salary as pension under NPS
5 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 …

Budget 2024: Central government staff could get 50% final pay as pension
5 months, 2 weeks ago

Budget 2024: Central government staff could get 50% final pay as pension

India Today  

The upcoming Budget 2024 is just a few weeks away, and the government may offer 50% of the final pay drawn as a pension for central government employees enroled under the National Pension System. Read Full Budget 2024 Coverage While the government has dismissed the idea of returning to the Old Pension Scheme, it is considering ways to provide reassurance …

NPS vs VPF: A Comparative Analysis of Interest Rates and Investment Features
7 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
11 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, 1 month 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 …

Over ₹10 lakh crore under its watch, NPS to ease withdrawal options
1 year, 3 months ago

Over ₹10 lakh crore under its watch, NPS to ease withdrawal options

The Hindu  

State governments that have ostensibly opted out of the National Pension System for their employees and have reverted to the Old Pension Scheme that guaranteed 50% of final salary as monthly pension, continue to remit due contributions to the NPS corpus. State government employees account for the largest chunk of the savings pool which crossed ₹10 lakh crore on August …

Independence Day 2023: How to plan your post-retirement financial independence with NPS?
1 year, 4 months ago

Independence Day 2023: How to plan your post-retirement financial independence with NPS?

Live Mint  

Remember the Nobel laureate Rabindranath Tagore’s famous lines, “Where the mind is without fear and the head is held high”. It furnishes a range of advantages not commonly found in other retirement savings schemes, including: Market-linked returns: The performance of your NPS investment is directly tied to the fluctuations of the market, offering you the possibility of achieving superior returns …

National Pension System (NPS): Why you must opt for this scheme
1 year, 9 months 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 …

Why you should consider National Pension System (NPS) over other annuity scheme?
1 year, 9 months 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 …

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

Old pension scheme will burden future taxpayers: NITI Aayog Vice-Chairman
2 years ago

Old pension scheme will burden future taxpayers: NITI Aayog Vice-Chairman

The Hindu  

NITI Aayog Vice-Chairman Suman Bery on Sunday expressed concern over the revival of Old Pension Scheme by some states, saying it would burden future taxpayers at a time when India needs to focus on fiscal prudence and promoting sustained growth. In an interview to PTI, Mr. Bery also underlined the need for enhancing capital expenditure and creating a space for …

NPS for Corporate Employees: Know About Additional Avenue For Retirement Planning
2 years, 4 months ago

NPS for Corporate Employees: Know About Additional Avenue For Retirement Planning

News 18  

The National Pension System, a government- What is National Pension System? The NPS Corporate Sector Model is the customised version of core NPS to suit various organisations and their employees to adopt NPS as an organised entity within the purview of their employer-employee relationship. The Risk Rating System Recently, the Pension Fund Regulatory and Development Authority of India rules have …

NPS scheme: 5 reasons to opt this plan for better return with minimum risk
2 years, 4 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 …

NPS could get additional income tax benefits: Key things to know
2 years, 11 months ago

NPS could get additional income tax benefits: Key things to know

Live Mint  

People have a lot of expectations from Nirmala Sitharaman's Union Budget 2022. The additional deduction limit under the National Pension Scheme could be raised from ₹50,000 to ₹1 lakh this year. However, an increment in the limit for additional deduction for NPS investments would also amount to a similar correct step in the right direction,” he said. Amit Gupta, MD, …

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

National Pension System Has Not Ensured Coverage of All Eligible Employees, CAG Audit Finds
4 years, 3 months ago

National Pension System Has Not Ensured Coverage of All Eligible Employees, CAG Audit Finds

News 18  

Mandatory contribution based retirement fund scheme National Pension System has not ensured full coverage of all eligible government sector employees even after 15 years of implementation and there have been delays related to deductions, bills and remittances, a CAG report said on Wednesday. The performance audit was undertaken to get an assurance that the system of NPS was established as …

Indians turn to saving more, push back retirement in the wake of covid-19
4 years, 3 months ago

Indians turn to saving more, push back retirement in the wake of covid-19

Live Mint  

The covid-19 pandemic has not only claimed jobs and livelihoods for many Indians but has consequently depleted their savings as well. Shrinking savings “Over the last year, the combined impact of the recession, the pandemic and the lockdown has meant that people have less money at hand, whether to spend or save. This year’s survey, conducted among 650 working professionals …

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