In this edition of Ask Money Today, read all about retirement planning and how you can ensure that you don’t have to fret
The senior citizen cohort is expected to surge to around 194 million by 2031
In this edition Ask Money Today, find out how you should plan your finances such that you are not deep in debt
In this edition of Ask Money Today, find out how retirees can plan a vacation abroad every year
One must remember that with life expectancy increasing, the retirement phase will get longer so retirement planning is critical
Here are 14 common mistakes people often make due to the distant goal. Therefore, identifying pitfalls and avoiding them is essential.
When you turn 60 you have two options; you can either use 40% of corpus to buy an annuity plan and withdraw the remaining as a lump sum or you can use the whole corpus to purchase an annuity plan
Upon turning 60, a subscriber has to use at least 40 per cent of the NPS corpus to purchase an annuity from a life insurance company and can withdraw up to 60 per cent as a lump sum, which is tax-exempt
In this edition of Ask Money Today, read about the options offered under the NPS when you choose to start receiving pension
Writes to labour minister seeking an upgrade of the retirement fund manager’s IT system and infrastructure
The EPFO payroll data is considered a high frequency measure for formal sector job creation in the economy
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Subscribers can now conveniently apply through the EPFO’s Unified Member portal, where they can access the option labelled ‘Pension on Higher Salary’
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The Centre has been concerned over the current pension system after some states switched back to the older pension system (OPS).
The current National Pension Scheme requires employees to contribute 10 per cent of their basic salary. In comparison, the old pension scheme subscribers don’t have to contribute anything during their working life.
Subscribers can download the e-PRAN and account statement by searching for PFRDA in DigiLocker
Withdrawal at periodical intervals through automation would add flexibility, provide liquidity, and optimise retirement benefits
It has set a target of enrolling 13 million under the Atal Pension Yojana in FY24, compared with 12 million in FY23
Currently, NPS subscribers, after attaining the age of 60 years, can withdraw up to 60 per cent of the retirement corpus as a lump sum.
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