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Retirement Planning

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Retirement Planning

Life throws curveballs, so it's essential to have a safety net. An emergency fund of at least Rs 10-15 lakh is essential in old age.
Updated : Mar 15, 2025

I want to help my father in managing his funds as he is nearing retirement. How can I ensure stable income source for him?

Before we get into the nitty-gritty of investments, it's important to understand what a "good" retirement looks like to your parents.

With the implementation of these rules, the pension processing for NPS retirees will now be aligned with OPS procedures.
Updated : Mar 15, 2025

New guidelines for National Pension System -  NPS pension processing to be like OPS; check details

The CPAO's new guidelines are expected to streamline the NPS pension processing, aiming to address the long-standing issue of delayed pension approvals that have been causing financial uncertainty for retired employees.

The government annually fixes the EPF interest rate, which for the financial year 2024-25 is set at 8.25%, consistent with the previous year’s rate.
Updated : Mar 15, 2025

How maintaining a proper EPF Balance can give you financial security, tax benefits

The EPF enables contributors to build a substantial retirement fund, ensuring financial security once they exit the workforce.

The National Pension System (NPS) is a government-monitored pension scheme with defined contributions that allows individuals to save for their retirement.
Updated : Mar 15, 2025

Can unemployed individuals open accounts under National Pension System? Check details

Unemployed individuals are eligible to open accounts under the National Pension System (NPS). Despite lacking a current source of income, individuals can establish an NPS account using existing savings.

Government employees must choose between UPS and NPS from April 1, 2025.
Updated : Mar 11, 2025

UPS vs NPS: Investors should invest this amount to get Rs 90,000 pension after retirement

While UPS offers a guaranteed pension with lower risk, NPS offers market-linked returns with higher risk.

A fixed deposit scheme, in comparison to EPFO, provides liquidity and flexibility, making it suitable if she anticipates emergency financial needs.
Updated : Mar 06, 2025

My mother can increase her pension by depositing Rs 7.2 lakh to EPFO. Is this a good option or fixed deposit or mutual fund would be better? 

EPFO pension provides a secure financial future and removes market uncertainties, making it an ideal selection for individuals looking for a steady and guaranteed income. With life expectancies on the rise, typically reaching 70-75 years, this alternative offers lasting advantages without the need for continuous financial oversight.

Raghunath’s strongest message focused on AI-driven job disruptions, warning that by 2027, artificial intelligence will transform industries beyond recognition.
Updated : Mar 02, 2025

'Indians please be ready to work until 75...': A CHRO’s blunt take on stock markets and financial survival

She also predicted the collapse of dual employment laws, making it harder for professionals to rely on a single salary.

Ujjivan Small Finance Bank has been one of the first to respond to the repo rate cut, revising its FD interest rates effective from February 21, 2025.
Updated : Feb 25, 2025

Fixed deposit rates: Six banks tweak senior citizen FD rates following RBI repo rate cut

In February 2025, six banks adjusted senior citizen fixed deposit rates, offering up to 9.1% amid a 0.25% RBI repo rate cut. This move affects deposits under Rs 3 crore, impacting post-retirement finances.

Senior citizens will no longer be able to claim a deduction of up to Rs 50,000 per year under section 80TTB in the new tax regime.
Updated : Feb 22, 2025

Senior Citizen Savings Scheme taxation: How much tax will senior citizens pay after Budget 2025?

The Finance Bill 2025 has introduced a new tax regime starting from the financial year 2025-26, making income up to Rs 12 lakh tax-free for individuals. This change means that senior citizens with total income, including those from SCSS, below Rs 12 lakh will not be required to pay any taxes.

The plan guarantees a lifelong income, bringing peace of mind by removing financial uncertainties during retirement.
Updated : Feb 19, 2025

Bajaj Allianz Life opens new pension plan with flexible payouts, lifelong income

The Bajaj Allianz Life Guaranteed Pension Goal II features various annuity options, including life annuity, joint life annuity, and return of purchase price (ROP) choices. Policyholders have the flexibility to personalise their ROP selection, with options ranging from 50% to 100%, giving them increased control over their annuity amount.

PFRDA has asked investors not to respond to suspicious SMS, calls, emails, or letters that make unrealistic or dishonest promises.
Updated : Feb 19, 2025

NPS & APY: PFRDA informs pension subscribers on ongoing fraud, shares steps to prevent cases

The PFRDA has cautioned that scammers may attempt to deceive individuals by falsely using its name and NPS brand through various means such as SMS, calls, emails, websites, mobile apps, and social media platforms like Facebook, WhatsApp, and Telegram. These deceptive tactics could result in cyberattacks and financial losses. 

Under UPS, government employees must contribute 10% of their basic salary, along with the dearness allowance, while the government will contribute 18.5%.
Updated : Feb 15, 2025

Unified Pension Scheme from April 1: Pensioners to get assured payouts; check eligibility, benefits

The UPS will be available to central government employees who are already enrolled in the NPS and opt for this new scheme. The Finance Ministry has stated that eligible central government employees under the NPS now have the choice to switch to the Unified Pension Scheme within the NPS framework.

The significant decrease in NPS returns represents a sharp decline from the almost 40% annual return achieved on September 28, coinciding with the peak of Indian equity indices.
Updated : Feb 12, 2025

Hit by market dip, National Pension System's annual returns on equity funds slip to 10.89% by Jan-end

The growth rate of NPS assets under management (AUM) has decreased, with a year-on-year increase of 23.33% to reach Rs 13.88 lakh crore. This growth rate is lower than the 25.49% year-on-year increase reported by the end of December at Rs 13.69 lakh crore.

For those with existing FDs, reviewing premature withdrawal penalties is advisable.
Updated : Feb 07, 2025

RBI MPC: Rate cut may shrink FD returns. How senior citizens can lock in better rates now

RBI Repo Rate: With banks expected to lower FD rates in response to cheaper borrowing costs, returns on deposits could shrink in the coming months.

When asked about his financial habits, Ahluwalia emphasized keeping liabilities low, generally under Rs 1 lakh.
Updated : Feb 06, 2025

'A salaried middle class person like me...': Accenture employee builds Rs 5 crore net worth in 11 years

Ahluwalia credits his success to a three-pronged strategy—career growth for higher earnings, disciplined saving through delayed gratification, and strategic equity investments.

The elevation of the TDS limit indicates that banks will only deduct TDS from a senior citizen's interest income on fixed deposits if it surpasses Rs 1 lakh in a financial year.
Updated : Feb 04, 2025

Budget 2025: What it means for senior citizens, how their tax slabs have changed?

For senior citizens investing in fixed deposits, the threshold for TDS on interest income exceeding Rs 50,000 was raised to Rs 1 lakh starting from FY 2025-26.

The UPS is projected to cost approximately Rs 6,250 crore in its first year of implementation, according to government estimates.
Updated : Jan 28, 2025

Great news for NPS pensioners! Unified Pension Scheme from April 1 – Check benefits, eligibility, DA info

Under this new pension scheme, government employees will be required to contribute 10 per cent of their basic salary along with the dearness allowance, while the government will contribute 18.5 per cent. In addition, there will be a separate pooled fund supported by an additional 8.5 per cent from the government.

Similar to the OPS, the UPS ensures a guaranteed pension for retirees, aiming to offer stability, dignity, and financial security post-retirement.
Updated : Jan 25, 2025

UPS: Centre brings in Unified Pension System as an option to NPS for central govt employees; check benefits, eligibility

The Centre introduced the Unified Pension Scheme (UPS) for central government employees last year, combining elements from both the Old Pension Scheme (OPS) and the National Pension System (NPS).

Previously, the gratuity limit was Rs 20 lakh, which was effective from January 1, 2024.
Updated : Jan 18, 2025

Gratuity amount: How govt employees can get gratuity up to Rs 25 lakh; check details

Last year, the gratuity ceiling for central government employees was raised to Rs 25 lakh, taking into account the Dearness Allowance (DA) reaching 50% of their basic salary.

Under the new regulations, long-term capital gains (LTCG) will be subject to a uniform tax rate of 12.5% across all asset classes.
Updated : Jan 18, 2025

'Poor taxation kills you...': Finfluencer weighs in on high capital gain taxation on these plans and future of it

In a recent post on X, Akshat Shrivastava, the founder of Finfluencer and Wisdom Hatch, raised concerns about the assumption made by investors regarding the current capital gains tax rate of 12.5% staying constant in the long term. He pointed out the potential impact on the final retirement corpus if the tax rate is increased after 10 years.

Moving funds from EPF to NPS has the potential to enhance earnings, especially for individuals keen on equity investments.
Updated : Jan 18, 2025

Retirement planning: How one can transfer EPFO Funds to NPS for better returns; check details

One should note that the performance of NPS is correlated with the market and varies based on your allocation among equity, government securities, and fixed-income options. In the long run, NPS has the potential to provide higher returns compared to EPF, which offers lower but steadier returns.

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