If the nominations are not in place, the heirs need to go through a lengthy process to get access to the money cautions Bindisha Sarang.
The pandemic should force you to take a hard look at the downside risks that could jeopardise your finances.
'Trading is about psychology; 75% of it is about keeping your emotions in check.'
You can get a lumpsum sanctioned, but you may draw only part of it and pay interest on the amount used.
People who are close to retirement and don't intend to go back to full-time work again should deploy a part of their VRS money in equities so that it keeps growing at a faster rate.
The trick is to know how long you are supposed to hold which document, observes Bindisha Sarang.
While using the family to save tax is legal and smart, ensure you use the ones where clubbing income laws isn't a concern, advises Bindisha Sarang.
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