While each of these retirement planning options work for you?
Retiring rich is everyone's dream. In fact looking at the lifestyles that we lead today and of course the rate of inflation of goods and services, retiring rich is probably a necessity. The question is how do you achieve your retirement goals. To discuss this, we have Anil Lobo of Mercer.
Financial Planners say withdrawing PF to finance life’s goals should be a well-considered move and the last among all financing options
Human lifespan has increased and this means you have more years post-retirement to live. But you can enjoy your post-retirement life in peace only if you are financially sound.
As per provisions in the Income Tax Act, the amount transferred from recognised PF/superannuation fund to NPS will not be treated as income of the current year and is hence not taxable.
A woman's financial plan must be aimed at creating long-term financial stability. Their emotional needs must be factored into the financial plan.
Providing greater flexibility to NPS subscribers both in the individual and corporate segments, PFRDA has allowed them to alter their investment scheme choice and asset allocation twice in a financial year instead of once at present.
The EPFO has said that the requirement for providing Aadhaar details in EPS cases will be limited to claiming monthly pension dues only.
Total service in the present establishment as well as previous establishments is counted for deducting tax at source and therefore, it is advisable to merge all PF accounts, EPFO has pointed out.
Extant tax benefit has been extended with the tax free relief available if a person withdraws an amount before the end or closure of their account if this is not more than 25 percent of the amount that has been contributed by the individual to the account.
While opening a window to file claims directly to EPFO without employers' attestation, it has also decided to allow self-attestation by subscribers of several documents previously required for partial withdrawals.
The entry of the second CRA has led to a lowering of the fees. NPS also has low fund management charges and offers the option of investing in schemes that have high equity component to generate good returns.
Experts feel NPS continues to be a good retiral product for the salaried segment since it is market-linked and professionally managed.
The amendment brings about parity in tax treatment between salaried and non-salaried self-employed persons.
We look forward to few changes in terms of (a) increase in tax exemption limit under Section 80C for ELSS Schemes (b) additional limit under Section 80CCD for investment in mutual fund linked retirement benefit/pension schemes.
No matter what stage of your life you are at, it is never too late to start planning or re-examining your finances afresh.
In your 30s & 40s, but still haven't planned financially for your retirement? You can still begin. Here is how.
One of our perennial demands with the government is to place NPS on par with other retirement schemes for tax purposes and make it an Exempt-Exempt-Exempt (EEE) scheme, says Hemant Contractor
Employees' voluntary PF (VPF) contribution can be taken right up to 100 per cent of basic pay. However, the employer is not required to match the additional contribution made by the employee.
The pension regulator has asked the government to extend the alternative investment choices and the two new life-cycle funds introduced in NPS to be made available to the government sector subscribers
Here are a few pointers to make wise investments which will help you protect the financial future of your family.
A financial plan for a parent with special needs child is much more than a traditional financial planning.
Leaving one‘s inheritance unplanned is like leaving one‘s hard earned money to fate as it may or may not end up being what the deceased would have desired in terms of distribution had he or she been alive
In this episode, Storyboard speaks to Mainardo De Nardis, CEO of OMD Worldwide about how his agency is dealing with the complexities of advertising and media business today.
To avoid ambiguity and ensure that family relationships do not get disturbed over material issues, a `Will‘ is often an alternative to be carefully considered.