Retirement

September 06, 2023 01:04 PM IST

Explained: Family pension under EPFO’s Employees’ Pension Scheme (EPS)

Under the EPS, a deceased employee’s spouse and children, and in their absence the parents, are entitled to family pension for supporting their financial needs

India considers raising retirement age for state-owned bank bosses

India is considering raising the retirement age for chairmen and managing directors of state-owned banks, which control over 60% of the banking system’s assets, a government official said on Saturday.

Ravi Kapoor to retire from Citi, K Balasubramanian to take over role as South Asia BCMA head

K Balasubramanian will take over the role as the India and South Asia BCMA head alongside his current role as the head of corporate banking, South Asia, Citi.

Inflation-Proofing Your Retirement: The Smart Savings Approach | Watch

How much money do you need to retire comfortably - and how do you account for inflation when deciding on your corpus? What all factors you need to consider? To know answers to these and many more questions, watch this video.

NPS: Which is the best annuity option?

At the age of 60, subscribers to the National Pension Scheme have to choose between 15 annuity service providers and multiple pension payout options. The decision will hinge on your family's goals and financial situation.

Kaun Banega Crorepati: How to build a corpus of crores by the time you’re 60

Many people feel that to be financially free, you need to earn a lot but that’s not entirely true. Planning, starting early, and being disciplined can be more important

How much money do you need to retire comfortably?

The ‘30X Rule of Retirement’ is a good strategy to adopt when planning for your retirement. But bear in mind that it is just a measure to see how far away you are from that goal. Actual retirement planning calls for many variables that are dynamic. Be prepared for your assumptions to go astray when you actually retire.

L&T CEO says special dividend of Rs 6 being given to honour Chairman A M Naik

The Rs 6 dividend to shareholders is only a token of our affection, esteem and, most importantly, gratitude (towards A M Naik).

Personal Finance: Changing asset allocation can give equity boost to your NPS investments

Selecting the ‘Active’ option for long-term savings under NPS allows you to invest up to 75 percent into equities. This helps as, otherwise, the equity portion shrinks below 35 percent during your prime earning period. But exercise caution if you are nearing retirement

How your employer can help you earn additional tax breaks through NPS

Employers’ contribution to corporate NPS of up to 10 percent of your basic salary can fetch you tax benefits under both the old and new tax regimes.

Is NPS the best retirement planning tool?

NPS can be a viable investment option for retirement planning, considering the tax benefits and asset mix. However, investors need to evaluate the tax implications and future returns, especially regarding annuity investment and withdrawal policies

Seeking higher EPS pension? You have only five more days to apply

Higher EPS pension deadline: The deadline to apply for higher pension on actual basic salary instead of the statutory limit of Rs 15,000 has been extended to July 11. Here’s everything you need to know about eligibility, the procedure and calculation. Is it worth your while?

Aditya Birla Sun Life Insurance rolls out guaranteed pension plan Nishchit

The pension plan is a non-linked, non-participating policy aimed at policyholders looking for guaranteed returns to build their retirement kitty

EPF or NPS: Which is the better investment option?

It doesn’t have to be an either/or decision. Indeed, choosing both the Employees’ Provident Fund and the National Pension System is the best option, for they are complementary forms of investment.

70% of NPS annuity subscribers choose single life policy to pass on principal to nominee: PFRDA

According to the Handbook of NPS 2023, over 1,09,344 subscribers opted for annuity plans at the time of superannuation/exit since the launch of the National Pension System. Of them, 70 percent chose the Annuity for Life with Return of Purchase Price plan.

Minimum assured return on the cards, rollout in the near future: PFRDA chief

The scheme is required as per the PFRDA Act and is in the works, but the cost, too, will go up due to the element of guarantee, says PFRDA chairman Deepak Mohanty

NPS Equity funds shine, but struggles to beat broader indices

A Moneycontrol rolling return analysis on the NPS data available from the Handbook of NPS Statistics (2023) shows that all the Tier – 1 equity schemes struggle to beat the Nifty 100 – TRI while the Tier – 1 Corporate bond schemes and Government securities schemes comfortably beat the relevant categories of mutual fund counterparts

NPS: Securing India’s greying population

With the flexibility to adjust the asset mix based on life stage and the advantage of low management fees ranging from 3 to 9 bps, the NPS presents a compelling opportunity to build a substantial retirement corpus.

Explained: Debt investments through NPS

NPS also invests in equities. Here’s how

Deadline for choosing higher pension option extended to June 26: Your key questions answered

While higher pension is desirable, numerous rules and grey areas make the decision-making process a complex affair. Here is a list of things you need to be aware of.

In your 30s and not yet invested in mutual funds? Here’s how to make a start

You are not too young in your 30s, but not old either. The 30s is an important phase of your life with many things getting started here, such as your marriage, family, buying a new home, and so on. The financial decisions you take in your 30s will have a big impact on the rest of your financial life.

May 3rd is the last date to apply for higher pension from EPS, check how to apply

Employees opting for a higher pension contribution will be required to make the additional contribution of 1.16 percent to be moved from the employee’s share of the Provident Fund to the Pension Scheme.

EPF e-passbook facility remains under the weather

All other online services, including the UMANG app, have been restored, says the social security organisation. The EPFO e-passbook facility is very popular as users frequently access it to ascertain their EPF balance and the status of interest credit for the financial year.

In your early 50s and nearing retirement? These 2 MC30 schemes can take you there

If you are about five to seven years away from retirement, moving a portion of the investment from risky assets to aggressive hybrid funds can not only help generate returns but also guard against erosion of accumulated corpus