Whenever it comes to saving for retirement, Public Provident Fund (PPF) and Provident Fund (PF) are the first two things which come to the mind of a salaried person. However, the National Pension Scheme (NPS) has been gaining a lot of…
NPS offers two accounts: Tier-I and Tier-II accounts. Tier-I is a mandatory account and Tier-II is voluntary. The big difference between the two is on withdrawal of money invested in them.
An employee’s own contribution is eligible for a tax deduction --up to 10 per cent of the salary (basic plus DA) – under Section 80CCD(1) of the Income Tax Act within the overall ceiling of Rs 1.5 lakh.
Recently, the pension fund regulator PFRDA allowed the NPS (National Pension System) subscribers to withdraw the money for purposes that include higher education and investment in new business.
Partial withdrawals will now be allowed to National Pension System (NPS) subscribers who wish to improve their employability or acquire new skills by pursuing higher education/ acquiring professional and technical qualifications.
While other popular options like PPF and 5-year FDs are made by people nearing retirement, as an added recurring saving other than your EPF contribution, you can try the National Pension System or NPS.
A new financial year may not call for resolutions and lifestyle changes, but your financial life will undergo a quite a few alterations in 2018-19.
Minimum Guaranteed Pension under National Pension System (NPS) – One day Agitational Programme on 24.04.2018 on Minimum Guaranteed Pension under National Pension System (NPS).
There is no proposal to replace the National Pension System (NPS) with the old pension scheme, the Lok Sabha was informed today.
Exemption from NPS for Railway Employees NFIR demand NFIR – Exemption of Railways from New Pension Scheme (NPS) - NFIR letter dated 19.03.2018
National Pension System (NPS) is an easily accessible, low-cost, tax-efficient, flexible and portable retirement savings account.
In the budget 2018 speech, Arun Jaitley introduced various tax changes which will come into effect from April 1 this year.
As India progresses towards a pensioned society, addressing select governance issues concerning NPS and EPFO has acquired greater urgency.
Centre itself had agreed that the 7th pay commission report based hike of 2.57 times was not enough and that it would strive to clear an amount greater than that. But the rate by Centre is unacceptable to sarkari staff.
There is a proposal to raise the equity exposure in NPS to 75 percent and PFRDA has floated a concept paper on this. Contractor said that this is still open for public comments and that it will finalise it once they are received.
Nearly 50,000 employees of Indian Railways will march to Parliament today demanding a hike in minimum pay and withdrawal of the National Pension System (NPS).
Earlier, subscribers under the pension scheme (NPS) were permitted to withdraw accumulations not exceeding 25 percent of the contributions made by him or her after 10 years.