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    HomeNewsBusinessBudgetBudget 2024: Higher employers’ NPS contribution limit, tax-free annuity income on the wish-list

    Budget 2024: Higher employers’ NPS contribution limit, tax-free annuity income on the wish-list

    PFRDA wants the employer NPS contribution limit to be raised from 10 percent to 12 percent. Exempting annuity income from tax, too, has been a long-time demand. A vote-on-account is unlikely to accommodate these demands, but the product already offers a plethora of tax breaks, making it an attractive retirement planning tool.

    Preeti Kulkarni
    Maulik M
    January 30, 2024 / 00:49 IST
    A combination of tax sops, product construct, minimal costs for the subscribers and good returns makes NPS a must-have in your retirement portfolio
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