The increase in joining age will provide the options to the subscribers who are at the fag-end of the employment
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 unions term the introduction of fixed-term employment as a 'modern labour slavery system' introduced through the 'back door'.
Now govt employees to enjoy greater say in how their NPS corpus is invested. Younger employees should raise their allocation to equities in this very long-term investment instrument
Ensure the employer has all relevant documents. Else, your pay will take a serious hit in the next two months.
Assume the worst regarding how long your unemployment could last and make conserving cash your topmost priority, suggests Sanjay Kumar Singh.
If someone does reduce his contribution, he should scale it back to the 12% level as soon as he can, suggests Sanjay Kumar Singh.
7 million jobs will be created in formal sector in FY18
The PFRDA Act would give statutory status to the pensions sector regulator, and in addition to other objectives, aims to address apprehensions regarding safety and yield under the National Pension System.
Raise in NPS entry age gives seniors another retirement-saving option but they should invest at least Rs 50,000 to avail of the additional tax benefit scheme provides, reports Sanjay Kumar Singh
Finance Minister Arun Jaitley announced several reforms.
Raising equity exposure to 50 per cent in the National Pension Scheme will benefit young investors, provided they can stomach higher volatility.
If a risk taker and young, NPS would suit her/him. Otherwise, s/he should go for EPF.
'If you consider only demonetisation and GST as my government's work, it will be a big injustice to me.'
The overall message to the middle class is: the days of freebies are over.
Withdrawals from EPF and NPS to have same tax rates.
Given its features as a retirement product (long lock-in and compulsory annuitisation), investors should have other investments they can fall back on in case they need funds
Since there are many and complicated choices, retail investors stand to benefit
BJP-ruled states push through amendments to laws, aim to get larger share of FDI pie
The government has not done its homework or made any attempt to forge a consensus on this matter that affects millions of people in the organised sector, says Harsh Roongta.
It's unfortunate the govt seems close to bowing to pressure from a limited section of the public.
The Prime Minister's Office has decided to set up a panel, led by former chief statistician T C A Anant, to deliberate on whether the enterprise-level quarterly data, which is released by the labour bureau, should be discontinued.
The payroll estimates, released by the EPFO based on its enrolment, threw up some contrasting trend between September 2017 and February 2018.
The report mentioned that the government spends 2.2 per cent of the GDP on pension bill.
The aggressive life cycle fund will allow equity exposure of up to 75%, up from the current limit of 50%.
The pension fund managers distribute products under the National Pension System.
Restrict investment to Rs 50,000 for tax benefits, experts tell Sanjay Kumar Singh, but caution that taxation at maturity and compulsory annuities are dampers.
EPFO may start investing up to five per cent of its incremental corpus in the equity market.
Salaried employees get several benefits under Sections 80C, 80D, 80G and others.
Conservative investors and those in the lower tax bracket should opt for these, experts tell Sanjay Kumar Singh
The raising of the entry age in NPS has opened up an attractive new investment avenue for senior citizens, says Arnav Pandya.
Individuals often postpone tax planning till the end of the financial year. As the deadline for showing proof of investments draws near, they invest randomly in any product that will help them save tax for that year. Later, they realise that it is not suited for them, so they abandon it. Tax planning should not be a standalone, one-off activity, but should be in sync with your overall financial plan, says Sanjay Kumar Singh.
The 40 per cent exemption benefit is applicable only for employees.
Bank shares were the top losers after sharp gains last week.
Despite the equity booster, many would be uncomfortable about NPS.
It is best to invest long-term surplus in stocks or equity mutual funds.
'When we say we want to increase pension participation, do we want to increase participation through the savings route?' 'Or do we want people to save in specific pension products?' asks Renuka Sane.
Insurance firms have designed amazing retirment plans to lure more customers.
'We are probably working with flawed data on household finance.'
MFs continue to find it difficult to attract and retain long-term money from investors
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