RETIREMENT


Moneylife Digital Team 24 November 2015
Moneylife Foundation is conducting ‘Safe and Smart Savings to take care of your retirement years’, a free seminar on Saturday in Nerul, Navi Mumbai for people, especially senior citizens    Every other day, we read about people being financially duped. Senior citizens, who may have...

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IANS 23 November 2015
PFRDA said it was committed to support the 'Digital India' drive and efforts were being made to make various NPS related services available on online platform   The Pension Fund Regulatory and Development Authority (PFRDA) has made it mandatory for the subscribers of New Pension...

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Moneylife Digital Team 09 November 2015
To enable Indians living abroad to access income security in their old age, the Reserve Bank of India (RBI) allowed non-resident Indians (NRIs) to subscribe to the National Pension System (NPS).NRIs may subscribe to the NPS governed and administered by the Pension Fund Regulatory and...

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IANS 28 October 2015
The government needs to assess the possible revenue loss before providing greater tax incentives, including full exemption, to the National Pension System (NPS), Minister of State for Finance Jayant Sinha said on Tuesday.   "We've to analyse and try to figure out exactly what revenue...

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Moneylife Digital Team 26 October 2015
Employees’ Provident Fund Organisation (EPFO) is hopeful of launching an online PF withdrawal facility by March-end after the Supreme Court extended voluntary use of Aadhaar card to government schemes, including provident fund. “We have written to the Labour Ministry for approvals for...

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Regulation required to stop the harassment of those who have invested in retirement homes    Once again, it is probably the judiciary that may come to the rescue of senior citizens who have invested their nest egg in retirement homes and end up fighting bitter battles with developers...

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IANS 20 August 2015
Pension scheme Atal Pension Yojana (APY) has been modified to make it more viable and acceptable for informal sector workers with intermittent incomes, an official statement said on Thursday.   The provision of mandatory monthly contributions and penal provisions for non-contribution...

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Sporadic launching of popular social security schemes has become a fashion for governments. The recently launched Atal Pension Yojana, will definitely provide some work and funds to the administrators of NPS and but may not to the subscribers   Eventually India has to debate the...

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Moneylife Digital Team 22 May 2015
A retiree’s grey matter   What is the biggest risk in retirement? Many would say it’s longevity, inflation risk, market risk, etc. According to Michael Finke, director of retirement planning at Texas Tech University, the biggest risk may be a retiree’s brain. “The biggest risk to a...

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The union cabinet on Wednesday approved the continuation of Rs.1,000 minimum monthly pension for pensioners under the Employees' Pension Scheme beyond the financial year 2014-15.   Currently, it is effective only up to March 2015.   The decision to continue with the pension on...

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Moneylife Digital Team 21 April 2015
One is a guaranteed return product and another is market-linked. Even well-educated people who attend Moneylife Foundation seminars don’t understand the distinction between the two    Employees may soon have an option to choose between the employee provident fund (EPF) scheme run by...

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Dhirendra Swarup, architect of NPS wants to you to be taxman’s guinea pig   The National Pension Scheme (NPS) was launched in 2004, as a defined-contribution-based pension system, which would nudge people into long-term savings, that would provide a comfortable retirement income....

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As India does not have too many large domestic institutional investors, a well-endowed domestic pension fund will be the panacea for a robust and sustainable capital market, SEBI chairman U.K. Sinha said on Monday.   "A well endowed domestic pension fund in India will be the panacea...

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The money you save today will be extracted from you when you exit the scheme   Contributions to pension schemes were limited to Rs1 lakh under Section 80C of the Income Tax Act. This was an anomaly because all other investments under Section 80C fetched Rs1.5 lakh as a tax break. You...

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Facing a financial crunch, the East Delhi Municipal Corporation (EDMC) has not paid monthly pension of Rs.1,000 to over 30,000 elderly people under the Old Age Pension Scheme since March 2013, the Delhi High Court has been informed.   The East Delhi civic body told a division bench of...

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There is a proposal to increase allowance under the old age pension scheme to Rs300 from Rs200 per month. How will this princely amount help anyone over a period of one month, is a question that the sarkari babus and ministers should answer   Exactly one week prior to the presentation...

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Sailesh Mishra 28 February 2015
The Finance Minister has announced a slew of low-cost pension and insurance schemes, including Atal Pension Yojana and Universal Social Security scheme that would help to tackle issues faced by senior citizens   Union Budget 2015, presented by Finance Minister Arun Jaitley, was a...

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Moneylife Digital Team 17 February 2015
According to Principal Financial Well Being Index 2014, while 70% people say they are financially prepared for retirement, just 49% know how much money they would require post-retirement   The Principal Financial Well Being Index, which touches upon the perceptions and attitude of...

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This is just the third mutual fund scheme to be notified as a pension  fund and easily the best   Reliance Mutual Fund recently launched a tax-savings-cum-pension scheme—Reliance Retirement Fund. The Fund will get tax benefit (up to Rs1.50 lakh) as a notified pension fund under...

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Moneylife Digital Team 19 November 2014
The Modi government launched Jeevan Praman, an Aadhaar-based digital life certificate for pensioners. But who will bear the cost of biometric reading device required to submit pensioner’s data?   Last week, Indian Prime Minister Narendra Modi launched Jeevan Praman, a digital life...

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