Budget 2024 proposals will give a boost to the pace of corporate NPS adoption, says HDFC Pension CEO

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Budget 2024 was a mixed bag for individual tax-payers – on one hand, it liberalised tax slabs and rates, and hiked the standard deduction limit to Rs 75,000 under the new, concessional tax regime.

It also increased the deduction limit on employers’ contribution to employees’ National Pension System (NPS) from 10 percent to 14 percent. Again, this benefit will be available only under the new tax regime.

Another announcement that attracted considerable attention pertained to NPS Vaatsalya, a dedicated plan for parents and guardians who wish to save to secure their children’s future.

To decode the impact of these announcements for individual tax-payers and the NPS space, Moneycontrol’s Preeti Kulkarni spoke to Sriram Iyer, CEO, HDFC Pension Management Company.

Tune into Simply Save for details.