Retirement Planning

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Retirement Planning

Even the interest or income accrued on such contribution is required to be included in the value of perquisite of the employee

Updated : Dec 01, 2023

Tax rules for employer’s contribution beyond Rs 7.50 lakh towards EPF, NPS and superannuation fund explained

Even the interest or income accrued on such contribution is required to be included in the value of perquisite of the employee

You have already defined your retirement goal; however, do consider factors like your retirement lifestyle, inflation, and post-retirement expenses like healthcare

Updated : Nov 15, 2023

My spouse and I earn Rs 60 lakh annually. How should I plan my retirement with a sum of 5 crore after 5 years?

An emergency fund equivalent to at least 3-6 months of expenses is absolutely viral

The regulator encouraged authorities and stakeholders to inform those nearing the age of 60 or looking to exit the National Pension Scheme about the SLW facility.

Updated : Oct 31, 2023

PFRDA allows NPS subscribers to withdraw up to 60% of their pension corpus through SLW facility

The proposed facility will allow subscribers to withdraw in instalments, monthly, quarterly, half-yearly or annually until a subscriber turns 75

The survey revealed that 25% of respondents believe that retirement planning is a crucial decision, and the sooner one begins, the better the chances of building a risk-free and substantial corpus.

Updated : Oct 30, 2023

Four out of five residents of Tier-2 cities will depend on their savings and children after retirement: Survey

The survey by BajajCapital found that MFs are the most popular financial instrument for retirement planning in India, followed by insurance and fixed deposits

Additionally, the limits for the Monthly Income Account Scheme were enhanced from Rs 4.5 lakh to Rs 9 lakh for single accounts and from Rs 9 lakh to Rs 15 lakh for joint accounts

Updated : Oct 25, 2023

Collections under senior citizen savings scheme at Rs 74,625 crore since April 2023

In the previous Union Budget, Finance Minister Nirmala Sitharaman had notably raised the maximum deposit limits for the Senior Citizens Savings Scheme (SCSS) from Rs 15 lakh to Rs 30 lakh

Investment of retirement funds should happen with two objectives—creating a stream of assured and regular cash flow and ensuring minimal erosion of corpus due to inflation.

Updated : Oct 17, 2023

I am 71. Where should I invest my Rs 50 lakh corpus?

In this edition of Ask Money Today, find out what financial planning looks like after retirement

One of the key mistakes people make while planning their retirement is forgetting to take inflation into account.

Updated : Oct 16, 2023

I'm 40 and want to earn Rs 1 lakh at retirement. How much should I invest in NPS for 20 years?

In this edition of Ask Money Today, find out if investing in the NPS is enough to achieve your retirement goals

You must strive to achieve the target investment rate within the next 2-3 years, or else it may become difficult to build the desired corpus.

Updated : Oct 12, 2023

I’m 40, earn Rs 1.5 lakh and spend Rs 55,000 a month. How much do I need to save for retirement?

In this edition of Ask Money Today, find out how you should calculate your retirement corpus and what it will require to get there

Report highlights that 80 per cent of Indian consumers feel professional financial planning services have enhanced their quality of life

Updated : Oct 04, 2023

91% of retirees advised by a professional felt they had enough money to last their retirement: FPSB Study

Report highlights that 80 per cent of Indian consumers feel professional financial planning services have enhanced their quality of life

The primary reasons are achieving financial security, optimising savings, addressing healthcare needs, and ensuring a well-structured post-retirement life.

Updated : Oct 04, 2023

Retirement planning: I am a senior citizen and have no liability. Is it necessary to plan for my second innings?

Retirement planning isn’t about managing liabilities; it’s about creating opportunities for a financially secure, healthier, and fulfilling life during the golden years

Starting your retirement savings journey early holds distinct advantages. It alleviates the pressure of last-minute financial sprints and provides your money with more time to grow.

Updated : Oct 03, 2023

For Rs 1 lakh monthly income post-retirement, build up this much corpus before you turn 60

Starting your retirement savings journey early alleviates the pressure of last-minute financial sprints and provides your money more time to grow

Investing in the National Pension System has a string of advantages.

Updated : Sep 30, 2023

Two-year delay can reduce young investors’ retirement savings by Rs 1.1 crore: ICICI Pru Pension Fund CEO

On the occasion of NPS Diwas, Sumit Mohindra, Chief Executive Officer, ICICI Prudential Pension Funds Management Company, tells BT why individuals should opt for NPS

Having worked for around 25 years, one would have probably accumulated a sizeable PPF corpus by now.

Updated : Sep 26, 2023

I’m 57 and work for a private firm. How much should I invest to get Rs 25,000 monthly after retirement?

In this edition of Ask Money Today, read all about retirement planning and what factors you should consider while calculating the ideal corpus

If an individual has been unemployed for over a month, he can withdraw up to 75 per cent of the total accumulated amount.

Updated : Sep 25, 2023

Provident fund: What are the conditions for premature withdrawal of EPF, and how much can you withdraw?

Find out about the circumstances under which you can make withdrawals from your EPF account

To generate a static monthly income of Rs 1 lakh for a 20-year duration, you would need to have roughly Rs 1.2 crore, assuming that you will be able to generate a post-tax return of 8 per cent on your corpus.

Updated : Sep 18, 2023

My spouse and I want to retire early. How should we plan to invest Rs 40 lakh for 3 years to generate a monthly income of Rs 1 lakh?

In this edition of Ask Money Today, read all about investment planning and if you can indeed retire early

You can consider putting this money into a fixed deposit or a liquid mutual fund for safety and easy access.

Updated : Sep 01, 2023

I’m a senior citizen and have Rs 60 lakh in FDs. How can I generate more income for a comfortable retired life?

In this edition of Ask Money Today, read all about retirement planning and how you can ensure that you don’t have to fret

India, a country with a population exceeding 1.3 billion, is home to 138 million senior citizens, as per the latest Census records.

Updated : Aug 25, 2023

Insurtech firm Plum finds a healthcare paradox: Only 2% of senior citizens have health insurance in India

The senior citizen cohort is expected to surge to around 194 million by 2031

You must speak with your lenders about ways to make the payments easier – restructuring, refinancing to a lower rate, EMI reduction or tenor enhancement, etc.

Updated : Aug 24, 2023

I’m a 55-year-old govt employee, and 70% of my salary goes towards repaying four loans. Should I take VRS?

In this edition Ask Money Today, find out how you should plan your finances such that you are not deep in debt

For your foreign vacation every three years, we suggest you put away your remaining surplus of Rs 1.2 lakh per year in an SIP of Rs 10,000 per month in a top-performing balanced advantage fund.

Updated : Aug 22, 2023

I’m 65 and get a monthly pension of Rs 40K. I have invested Rs 24 lakh in SCSS, POMIS. How can I plan two vacations in a year?

In this edition of Ask Money Today, find out how retirees can plan a vacation abroad every year

To plan your retirement effectively, you will need to consider multiple factors—things like your post-retirement lifestyle, inflation, existing provisioning, and your target retirement age, etc.

Updated : Aug 16, 2023

Can millennials prepare themselves for retirement at 60 by investing Rs 5,000 a month today?

One must remember that with life expectancy increasing, the retirement phase will get longer so retirement planning is critical

Here are 14 common mistakes people often make due to the distant goal. Therefore, identifying pitfalls and avoiding them is essential

Updated : Aug 14, 2023

Retirement Roadmap: 14 mistakes you must dodge

Here are 14 common mistakes people often make due to the distant goal. Therefore, identifying pitfalls and avoiding them is essential.

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