An argument that is often heard against the National Pension Scheme(NPS) is the long lock-in till age of 60 years. Another concern is the accessibility of the corpus in case of early retirement. Subscribers have for long been used to defined benefit scheme like the employee provident fund which gives a fixed return and find …
As the financial year draws to a close, various income tax-saving investment avenues, such as the Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), and National Pension System (NPS) necessitate minimum contributions to maintain their active status. Therefore, if you hold an account in any of these schemes and haven’t made any deposits for the …
The pension regulatory body recently announced an enhanced security system. They have implemented a two-factor Aadhaar authentication and made the new security mandatory for all password-based users logging into the Central Recordkeeping Agency (CRA) system of the NPS from April 1, 2024. The PFRDA notification said, “To enhance the security measures in accessing the CRA …
Kurian Jose, CEO, Tata Pension Fund, says PFRDA is working on making pension and retirement products appealing to youth and has introduced investing through QR code. Also, the rules to withdraw money partially from the National Pension System (NPS) were changed starting February 1, 2024, whereby an NPS subscriber is allowed to withdraw from his …
In the Tier-1 account, NPS-Scheme E allocates investments to equities with long-term growth potential. As we know Tier -I is a compulsory retirement account. SBI Pension Funds Private Limited As of January 31, 2024, the fund oversees assets totalling ₹15,768.59 crore. Its top five holdings consist of Reliance Industries, HDFC Bank Ltd., ICICI Equity, Infosys, …
Effective income tax savings can be achieved by strategically utilising various avenues, provided they are planned meticulously. If you’re intending to make tax-saving investments, it’s crucial to initially determine the required investment amount. Consider avenues such as the Employees’ Provident Fund, life insurance premiums, tuition fees, home loan principal repayments, etc., as these qualify for …
The National Pension System (NPS) is one of the most cost-efficient retirement planning products that comes with a prudent risk management framework and close regulatory oversight. The NPS ensures a comfortable retirement by combining market-linked returns with disciplined savings and power of compounding. With growing awareness, the NPS has attracted a lot of interest and …
Gaining from the bullish momentum in the equities market over the past year, pension funds have recorded an average annual return of nearly 30 per cent from their equity investments, per the latest PFRDA data, reported Business Line . This average annual return of 29.35 per cent in equities in the first week of February is more …
Insurance and retirement planning are key components, ensuring financial security in the long run. Understanding tax implications and continuous learning about financial matters contribute to a solid foundation. Personal finance empowers individuals to make informed choices, build wealth, and achieve a secure financial future. In the dynamic landscape of personal finance, navigating the complex terrain …
ICRA Analytics anticipates several potential changes in the upcoming Interim Union Budget for the fiscal year 2025. The Budget will be announced on February 1, 2024. Since the general elections will be held in May, this will be the Interim Budget and a new Budget will be presented in July. Here’s a list of changes …