Reduction in the mandatory minimum contribution and extension to invest in the scheme from 60 years to 70 years has made the National Pension Scheme more friendly, says Anil Chopra, Group CEO & Director Bajaj Capital
Here's how the move will affect the banks' customers.
The parents of Squadron Leader Abhimanyu Rai, an IAF pilot who died in a trainer jet crash in December 2023, have expressed their anguish over being ignored for entitlements and honours that were given to their daughter-in-law. They believe the government policy should be revised to include parents of martyred soldiers. Group Captain Amitabh Rai (retd) and his wife Chitralekha, the bereaved parents, say they have received no condolences from the government despite losing their only son. They argue that the current policy unfairly favors the martyr's wife, often leading to neglect of the parents. The Rais claim their son's death is not being recognized as a "battle casualty" and therefore he is not being treated as a martyr. They also raise concerns about the pressure on IAF trainers to complete training programs successfully, even when cadets are not prepared, potentially endangering both the trainer and the cadet.
When the subscriber reaches superannuation or the age of 60, 60 per cent of the total corpus accumulated in NPS can be withdrawn as a lump sum.
The 'partial withdrawal' is however allowed only after 10 years of contribution by the subscriber, said the draft guidelines by the Pension Fund Regulatory and Development Authority.
The choice should depend on the size of the retirement corpus, stage in life, and state of health.
At just 12 and a half years old, Manjari won gold in diving at the 1968 national championship in Kanpur, competing against older athletes.
'Young investors with limited funds should ensure that investing in NPS does not crowd out their other, more liquid, investments.'
Addressing the nation on the 70th Independence Day from the Red Fort, the prime minister had announced a 20 per cent hike in the pension for freedom fighters.
NPS is a cost-effective instrument with low fund management and other fees. Unlike in mutual funds, investors get the benefit of tax-free rebalancing here.
Those who have crossed 50 must show the greatest urgency. They need to achieve a corpus that can sustain them and their spouses for at least 25-30 years after retirement.
In order to further enhance customer convenience, and to leverage the 24x7 availability of real-time gross settlement (RTGS), NACH which is currently available on bank working days, is proposed to be made available on all days of the week effective from August 1, 2021, RBI's Shaktikanta Das said.
A portfolio can be rebalanced by either selling a portion of the outperforming asset class or by buying more of the underperforming asset class.
Investors should quiz them to understand the product, which options to invest in, and how to get the final payout
While reasonable safeguards should be built in, there can't be restrictions on the individual's right to leave her/his money to whoever s/he wants, notes Harsh Roongta.
AIBOC in a letter to the Prime Minister, has said the government should not expect the banking fraternity to "join the political campaign of #MainBhiChowkidar" unless issues related to merger of banks, salary revision and staff recruitment, among others, are addressed.
Under capital expenditure, Rs 48,614 crore has been set aside for aircraft and aero engines while Rs 24,390 crore has been allocated for the naval fleet.
Several leading scientists, academicians, and agriculturalists have called for raising government support for research and development to make Indian agriculture future-ready.
The increase in joining age will provide the options to the subscribers who are at the fag-end of the employment
Such public domain discussions affect their morale and dedication -- and that, if anything, will definitely affect combat-effectiveness, asserts Vice Admiral Biswajit Dasgupta (retd).
In 2023, the number of kindergartens fell by 14,808 to 274,400, the annual report by the Chinese education ministry stated. It is the second consecutive annual decline in the latest indicator of China's falling birth rates.
In a big relief to over a crore retired employees of government and PSUs, a pensioner can now digitally provide proof of his existence to authorities for continuity of pension every year instead of requiring to present himself physically or through a Life Certificate issued by specified authorities.
The overall message to the middle class is: the days of freebies are over.
The Indian Air Force, in particular, has grown from a very modest beginning just about 90 years ago, to being "one of the most formidable air forces in the world", the IAF chief said.
Will the EPFO be required to deduct tax at source or will the employee have to calculate the tax and pay it separately?
The SNJPC recommendations cover pay structure, pension and family pension and allowances besides dealing with the issue of establishing a permanent mechanism to determine subjects of service conditions of district judiciary.
Te Congress slammed the Centre's order, alleging that Prime Minister Narendra Modi wants to politicise employees on an ideological basis.
Numbers could be classified further into (140) marketing and (160 or 161) for service calls to easily identify the purpose of the call in the future.
The unions term the introduction of fixed-term employment as a 'modern labour slavery system' introduced through the 'back door'.
The Rajya Sabha chairman asked him to authenticate his assertions and refused to accept newspaper clippings that the Congress leader showed to buttress his points.
Avoid investing in a new ELSS scheme each year. Stick to one well-chosen scheme to avoid clutter in your portfolio.
The government wants to reduce the rate of contribution - part of the employee's share - for a class of workers depending upon age, income or gender, without changing the contribution from the employer's share.
'There is still scope for selective stockpicking.'
Fintech unicorn Razorpay has raised $375 million in the Series F round of funding at a $7.5-billion valuation, making it India's second-most valuable start-up in this space, after Paytm. The company valuation has surged over seven times in 15 months, helping it push Walmart-owned digital payments firm PhonePe to the third spot on the country's most-valuable fintech list. Razorpay's latest round of fundraising was led by Lone Pine Capital, Alkeon Capital, and TCV.
Despite the equity booster, many would be uncomfortable about NPS.
Raising equity exposure to 50 per cent in the National Pension Scheme will benefit young investors, provided they can stomach higher volatility.
Individuals could soon lose tax benefits available on fixed deposits with an over five-year term once the direct taxes code comes into force from April 2011.
In India, younger workers willing to work at lower salaries are easily available, so you could find yourself out of a job before 60. Therefore, save for retirement with urgency, advises Sanjay Kumar Singh.
'Is the Agniveer scheme or their post-retirement re-employment in paramilitary forces or in the state governments the BJP's answer to the crying need on the job front?' 'Or, even Finance Minister Sitharaman's one-year internship scheme in the public and private sector, is it a permanent solution, either?', asks N Sathiya Moorthy.
