Once you decide on investing in a retirement insurance policy, consider the following:
• Whether the plan offers the option of long-term savings
• Do you have the flexibility to select retirement /vesting age
• Is there minimum guarantee on investment
• Can you balance your investment between debt and equity
• Does the plan allow additional life cover for your spouse
• Can you increase your monthly savings with an increase in employment income
• Are there annuity options to choose from
• What about bonus clause
• Is there cover for terminal illness
• What riders are available
• What is the cost of investment (charges payable)
Compare premium for pension plan insurance plans.
Once you decide on investing in a retirement insurance policy, consider the following: • Whether the plan offers the option of long-term savings • Do you have the flexibility to select retirement /vesting age •…
Anyone who is in the age group of 18 to 39 years and 364 days is eligible for Atal Pension Yojana. It means if you complete 40 years, you are not eligible.
Atal Pension Yojanaor APY, a pension scheme for Indians in the unorganized sector. According to this scheme there is a guaranteed minimum monthly pension of Rs.1000 to Rs.5000 on retirement age based on the subscriber’s…
An employment-based Pension plan is retirement insurance plans or annuity plans where the employee allocates a portion of the current income to retirement income, usually tax exempt. These plans are of two types. Defined benefit…
Yes. All Indian residents in the age group of 18-60 years can invest in the NPS. The scheme is mandatory for government employees and optional for private employees and self-employed.
The NPS is portable. Subscribers can keep the same PRAN regardless of whether they move residence or location. The same PRAN is valid across India for the subscriber to continue their investment via a local…
Yes. NPS sends a physical annual statement with details of unit holdings via the CRA within 3 months of the closing of each financial year.
The pension fund manager invests your savings in a scheme chosen by you. Investment allocations directly impact the growth of your pension fund. The rate of return depends on the return from the asset classes…
No. The Government will not contribute to your NPS account. However, if you have opted for the Swavalamban scheme, government contributions may be applicable subject to conditions of the scheme.
A grievance about your NPS account can be registered via the Call Center or IVRS at a toll free phone number using T-PIN. There are dedicated call center executives. Grievances can also be registered via…