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Pension Funds provide the much needed financial support in your retirement years. Understand what is a pension fund & the types of pension funds in India @ ICICI Prulife.
Pension scheme gives an opportunity to invest and accumulate savings and get lump sum amount as regular income through annuity plan on retirement. According to United Nations Population Division World's life expectancy is expected to reach 75 years by 2050 from present level of 65 years.
Pension funds allow investors to invest in either the safe government securities or assume some risk and invest in debt and equity investments, depending on their risk profile. The risk is balanced by the prospect of higher returns that are generated by the investment.
There are however three major pillars to the Indian pension system: the solidarity social assistance called the National Social Assistance Programme (NSAP) for the elderly poor, the civil servants pension (now open for all) and the mandatory defined contribution pension programs run by the Employees' Provident Fund Organisation of India for ...
Best Pension Plan Available In India In 2024. Learn the pros and cons of the best pension plan in India; Know the features and benefits of retirement policies
National Pension Scheme (NPS) in India offers low-risk investment options with good returns and tax benefits. There are 11 NPS pension fund managers, with the top performers being UTI Retirement Solutions, LIC Pension Fund, and SBI Pension Fund.
National Pension Scheme (NPS) is a government sponsored pension scheme. Know the detail information about its Benefits, features, How it works, what is NPS (National Pension Scheme) and may...
NPS is an attempt by the government to create a pensioned society in India. Today, the NPS is readily available and tax efficient under Section 80CCC and Section 80CCD. Under the NPS, an individual can contribute to his retirement account. Also, his employer can contribute to the welfare and social security of the individual.
India offers various options for pension funds, including the National Pension Scheme (NPS), Employee Provident Fund (EPF), Atal Pension Yojana (APY), and Public Provident Fund (PPF).
Pension funds allow you to plan and prepare for retirement in advance, ensuring a steady income stream to support your desired lifestyle. Tax benefits: Investment in pension funds offers tax deductions under section 80C, allowing you to claim deductions of up to 1.5 lakhs on your taxable income.