A wise person had once said, “it is never too early to start planning for retirement”. While there are multiple retirement plans available in India, one scheme that has the maximum recall value for salaried individuals is the Employee Provident Fund (EPF) scheme.
Wouldn’t it be wonderful if you are able to create a good retirement corpus while at the same time-saving taxes? Tax planning is an essential activity which is undertaken by taxpayers to reduce their tax liabilities. The choice of investment avenues not only depends on financial goals but also on…
The National Savings Institute of the Ministry of Finance started the PPF scheme in 1968 to encourage saving and provide returns on it to subscribers of the scheme. PPF is a long-term saving cum investment instrument. It was started to encourage small savings and investments among people who don't come under the Employee Provident Fund Organisation (EPFO)
National Pension System is the best & economical pension scheme for retirement planning. Invest in NPS scheme through ETMONEY & save additional tax under section 80CCD.
An annuity is a financial instrument that pays out a fixed & regular payment. This can be used as an income in the form of regular payments for retirees.
Retirement brings several pleasant thoughts in mind – travel, spending time with friends, and many more. But all this is possible, only when you have a big bank balance to fund everything that you plan to do.
When you want to invest in NPS, you first need to open an account under the Tier I before you can consider opening the Tier II account. It’s natural for people to wonder about the utility of two different accounts and why the Tier II account cannot be opened independently. You will be able to know the benefits of both accounts and should you go for the Tier II account later in this blog post.
In life, we meet all kind of people. There are some who love choices and enjoy going through them to pick what is best for them and then if they don’t like it, pick another. On the other end of the spectrum are the people who get overwhelmed when given too many choices and the confusion means they delay taking decisions. This happens when it comes to your finances too.
The NPS or National Pension System is a voluntary retirement scheme through which you can create a retirement corpus or your old-age pension. It’s managed by PFRDA (Pension Fund Regulatory and Development Authority) and available to all Indian citizens (resident or non-resident) between 18 and 65 years old. One can join the NPS as late as when they are 60 years old and continue to contribute until they are 70 years old.
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