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New Delhi: The central government introduced the Unified Pension Scheme (UPS) which is designed to offer better retirement security for government employees. Information and Broadcasting Minister Ashwini Vaishnaw announced that under this new scheme employees will receive an “Assured Pension” equal to 50 per cent of their average basic pay from the last 12 months…
There is big news for lakhs of government employees. The Union Cabinet has approved the Unified Pension Scheme. The government claims that this will benefit 23 lakh central government employees. In the third term of Prime Minister Narendra Modi, the central government is continuously taking historic decisions. The Union Cabinet Meeting has taken three important…
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Planning for retirement is essential for ensuring financial security in your later years. In India, several government-backed and regulated schemes are designed specifically to help individuals save for retirement. This article explores key retirement schemes that play a crucial role in financial planning. 1. Employee Provident Fund (EPF) The Employee Provident Fund (EPF) is a…
New Delhi: The Indian government introduced the National Pension System (NPS), a pension cum investment plan to give people security for their old age. The Pension Fund Regulatory and Development Authority (PFRDA) oversees the scheme. After turning sixty years old, the NPS members start receiving their pension. Nevertheless, before turning 60 or upon attaining superannuation,…
New Delhi49 minutes ago copy link Finance Minister Nirmala Sitharaman announced the NPS ‘Vatsalya’ scheme in the budget. The NPS contribution limit for employers in the private sector has also been increased from 10% to 14% of the employee’s basic salary. Apart from this, the limit of Mudra loan has been increased to Rs 20…
PPF vs NPS for Retirement Planning: When planning for a secure financial future, two of the most popular investment options in India are the Public Provident Fund (PPF) and the National Pension System (NPS). Both offer unique benefits and cater to different investor needs. Here’s a detailed comparison to help you decide which one is…