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Retirement Planning

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.

Ole Lehmann revealed that the ramifications of tax optimisation go beyond mere numbers and can impact an individual's identity, relationships, and feeling of belonging.
Updated : Jan 16, 2025

Tax haven living: Entrepreneur shares the dark realities of tax haven living after shifting to Cyprus from Germany

A Berlin-based entrepreneur recently noted that his life changed entirely after he shifted to Cyprus from Greece, expecting tax benefits.

Previously, the process for correcting names or dates of birth in Pension Payment Orders (PPOs) varied within the Indian Army, Navy, and Air Force.
Updated : Jan 16, 2025

Pension Guidelines: New updated rules for name, birth detail changes for these pensioners; check details

The newly implemented standardised protocol will ensure consistency across all three branches, the Indian Army, Navy, and Air Force, simplifying the administrative burden for retired individuals and their families.

A LocalCircles survey found that 21% of respondents faced premium hikes of 50% or more in the past 12 months, while only 15% reported no increase.
Updated : Jan 12, 2025

‘Anyone from GOI to protect us?’: Senior citizen questions 90% health insurance hike

Matta’s plight mirrors the growing frustration among policyholders facing steep hikes in health insurance premiums, with surveys indicating that over half of insured individuals saw increases of at least 25% last year.

Senior citizens can open an SCSS account individually or jointly with their spouse. The scheme allows a maximum deposit of ₹30 lakh per account, with a minimum investment of ₹1,000.
Updated : Jan 12, 2025

Senior Citizens Savings Scheme: How retirees can earn ₹24 lakh in 5 years through secure savings

With an 8.2% annual interest rate, SCSS enables senior citizens to safeguard their retirement corpus while generating consistent income.

Retirement calculators can be highly beneficial tools, however, their effectiveness hinges on the precision of the information entered.
Updated : Jan 10, 2025

Retirement planning: Can FIRE calculators accurately help you in estimating your required goal?

The pursuit of FIRE (Financial Independence, Retire Early) is becoming increasingly prevalent as individuals aim to secure a financial cushion that allows for a comfortable lifestyle without the need for typical employment.

Montek Singh Ahluwalia said that the NPS was adopted during the NDA I and continued during the UPA I and UPA II.
Updated : Jan 03, 2025

NPS vs OPS: 'States going back to the Old Pension Scheme are...", says Montek Singh Ahluwalia

Montek Singh Ahluwalia noted that the New Pension Scheme (NPS) is adaptable and can be adjusted to accommodate any issues that may arise.

Under CPPS, EPS pensioners can access funds from any bank or branch nationwide.
Updated : Jan 03, 2025

EPFO news: Centralised Pension Payments System rolled out across India; check details

The CPPS represents a significant shift in providing a centralized platform on a national level for pension disbursements, allowing access through any bank or branch within India. Even in cases where a pensioner relocates or switches banks, the CPPS guarantees continuous and uninterrupted pension payments throughout the country.

Pensioners no longer need to physically visit a bank branch for verification and can expect their pensions to be credited promptly upon release.
Updated : Jan 02, 2025

EPS new rules: Now you can withdraw your pension from any bank branch; check details

The introduction of CPPS represents a significant shift in the pension disbursement process in India, as it provides a centralised platform that allows pension payments to be made through any bank or branch nationwide. 

As of December 28, private sector NPS assets growth also moderated, with a year-on-year increase of 33.33% at Rs 2.74 lakh crore.
Updated : Jan 02, 2025

Retirement investment: NPS equity returns slumps to 15.86%, growth of AUM slows to 25.49%; here's why

As of December 28, 2024, the growth pace of NPS Assets Under Management (AUM) slowed down to 25.49% year-on-year, reaching Rs 13.69 lakh crore.

Monthly pension amounts have been raised to Rs 4,000 for elderly individuals, widows, weavers, single women, fishermen, and transgender individuals.
Updated : Dec 28, 2024

Pension Scheme: Changes in Andhra Pradesh's NTR Bharosa Pension Scheme announced; check details

The NTR Bharosa Pension Scheme provides assistance to a diverse range of individuals falling under the Below Poverty Line (BPL) category. 

Life insurance has the capability to offer significant stability in one's life.
Updated : Dec 28, 2024

I’m in my late 30s. I want to quit my job and start a business. How can I ensure my family's financial security

Venturing from a secure job to start your own business is a courageous and thrilling move. Here life insurance can be a powerful tool to provide that stability.

After reaching retirement you can invest with an asset allocation of 60:40 in equity & debt to create stability & liquidity in the portfolio.
Updated : Dec 26, 2024

NPS in 2025: I am 40 and want to invest in NPS from next financial year. How should I plan my investment? 

NPS investment: Investors considering the NPS for retirement planning should note that there are various uncertainties to be aware of. For example, it is a requirement in the NPS that 25% of the investment must be designated for debt instruments, such as government or corporate bonds.

EPFO members with at least 10 years of service may apply for a higher pension under the EPS 95 scheme.
Updated : Dec 21, 2024

Higher EPS pension: Check eligibility, application process, rejections and delays in processing of pension application

According to the latest notification from the Employees Provident Fund Organisation (EPFO), employers must furnish the necessary clarifications requested by EPFO before January 15, 2025, in order to facilitate the processing of the higher pension application.

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