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    Retirement Planning

    If you consistently invest Rs 50,000 per year for the next 30 years, your initial investment of Rs 15 lakh will grow into a substantial corpus of Rs 1.10 crore.
    Updated : Aug 11, 2023

    I am 30 and save Rs 50,000 every year in NPS for tax purposes. How much pension will it earn me at 60?

    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

    If a subscriber decides not to withdraw the entire NPS corpus at the age of 60, they can defer the lump sum withdrawal until the age of 70.
    Updated : Aug 03, 2023

    National Pension System: 7 amazing facts about NPS that you probably didn’t know

    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

    If you choose Life-Long Pension without Return of Principal Amount option, you will receive pension for your entire life, and no amount will be payable to anyone on death.
    Updated : Aug 03, 2023

    I’m 66 and want to exit with Rs 10 lakh in NPS and start my pension. How much can I get per month from NPS?

    In this edition of Ask Money Today, read about the options offered under the NPS when you choose to start receiving pension

    The slow speed of the software impacts the timely servicing and processing of claims and requests by members
    Updated : Jul 26, 2023

    System reboot: EPF Officers’ Association highlights glitches in IT system, infrastructure

    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
    Updated : Jul 20, 2023

    EPFO registers 0.88 million new members in May

    The EPFO payroll data is considered a high frequency measure for formal sector job creation in the economy

    Since retirement planning is a long-term goal, building the corpus with equity and debt is prudent.
    Updated : Jul 20, 2023

    I’m a 30-year-old private sector employee, and I want to retire at 45. How should I plan for this?

    In this edition of Ask Money Today, read about how you should go about deciding on your retirement age, and how you can meet that goal

    Experts suggest one must check their investment portfolio periodically and make necessary adjustments based on prevailing economic conditions and retirement goals.
    Updated : Jul 18, 2023

    How does inflation impact your long-term retirement savings?

    Here is what you can do to safeguard your investments from price rise

    Previously, the process for submitting a joint application by employees was quite complicated
    Updated : Jul 10, 2023

    Higher Pension from EPFO: List of documents needed to apply for higher EPS as deadline ends tomorrow

    Subscribers can now conveniently apply through the EPFO’s Unified Member portal, where they can access the option labelled ‘Pension on Higher Salary’

    You can open new PPF and NPS accounts and start contributing at your convenience.
    Updated : Jul 04, 2023

    I am a 61-year-old retired govt employee and have closed my PPF and NPS accounts. Can I reopen both after retirement?

    In this edition of Ask Money Today, find out what you can do if you find employment after retirement

    On Thursday, the Finance Ministry tweeted that the news report is false.
    Updated : Jun 22, 2023

    Tweaks in NPS? Finance Ministry denies report, says committee still deliberating clauses

    The Centre has been concerned over the current pension system after some states switched back to the older pension system (OPS).

    The move comes after the government set up a committee in April to review the pension system
    Updated : Jun 21, 2023

    Tweaks in NPS? Central govt likely to offer assured base pension, says report

    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.

    NPS subscribers can easily sign up for DigiLocker by using their mobile or Aadhaar number.
    Updated : Jun 16, 2023

    Here is how to access your NPS transaction statements through DigiLocker

    Subscribers can download the e-PRAN and account statement by searching for PFRDA in DigiLocker

    The choice of SLW at periodic intervals through automation will give subscriber flexibility, provide liquidity, and optimise retirement benefits.
    Updated : Jun 14, 2023

    Should senior citizens opt for the new NPS systematic lumpsum withdrawal option?

    Withdrawal at periodical intervals through automation would add flexibility, provide liquidity, and optimise retirement benefits

    While APY has generated 9 per cent return, the National Pension System (NPS) have given more than 12 per cent returns (in equity) since its inception.
    Updated : Jun 08, 2023

    PFRDA chairman says regulator may soon offer an assured return scheme

    It has set a target of enrolling 13 million under the Atal Pension Yojana in FY24, compared with 12 million in FY23

    The Systematic Lumpsum Withdrawal feature will allow NPS subscribers to opt for periodic withdrawals, like monthly, quarterly, half-yearly, or annually
    Updated : Jun 07, 2023

    NPS withdrawal rule set to change: Centre may introduce periodic withdrawal of funds instead of lump sum

    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.

    EPFO recently asked its officials to ensure the scrutiny of applications for validation of joint option for the proposed higher pension plan within the specified timeline.
    Updated : Jun 07, 2023

    What to do if EPFO has not yet processed the claim for payment of a higher pension?

    It is essential to send a reminder as scrutiny of applications for claiming a higher pension and validation of joint options are experiencing significant delays at field offices

    The Pension Fund Regulatory and Development Authority (PFRDA) regulates NPS
    Updated : May 31, 2023

    Retirement planning: Check the latest NPS schemes' returns here

    The Pension Fund Regulatory and Development Authority (PFRDA) regulates NPS, and National Pension System Trust (NPST) established by PFRDA is the registered owner of all assets under NPS. Thus, anyone, whether resident or non-resident (NRI) of 18-70 years, can open an account in NPS.

    Millennial women, playing a pivotal role in shaping India's digital journey, exhibit a strong affinity for tech-savviness and a distinct preference for digital solutions.
    Updated : May 29, 2023

    Retirement planning is not part of Indian women's financial considerations, survey shows

    The survey, encompassing a robust sample size of over 3500 women participants, divulged that systematic investment plans (SIPs) have emerged as the favoured investment option among women.

    At present, NPS subscribers can buy only one annuity scheme from the ASP at the time of exit
    Updated : May 26, 2023

    NPS subscribers can avail of these benefits by buying multiple annuities from same life insurer

    At present, NPS subscribers can buy only one annuity scheme from the ASP at the time of exit.

    The earlier tax exemption on leave encashment for non-government employees was Rs 3 lakh which was fixed in 2002, when the highest basic pay in the government was Rs 30,000 per month
    Updated : May 25, 2023

    I-T exemption limit for leave encashment upon retirement for non-govt salaried employees hiked to Rs 25 lakh

    The earlier tax exemption on leave encashment for non-government employees was Rs 3 lakh which was fixed in 2002, when the highest basic pay in the government was Rs 30,000 per month

    Subscribers or pensioners opting for higher pension will get three months to give their consent for diverting additional contributions or dues under the EPS run by the EPFO
    Updated : May 11, 2023

    Higher pension: EPFO clarifies on corpus reallocation from EPF to EPS and time limit for diverting additional dues

    Subscribers or pensioners opting for higher pension will get three months to give their consent for diverting additional contributions or dues under the EPS run by the EPFO

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