Retirement Savings

They should not overestimate their ability to extend their work life to make up for lower savings

Awareness about retirement planning has been rising in urban India with growing number of people feeling the need to start planning for their post-work life early, a report said. As much as 44 Indians consider the right age to start planning for retirement is before 35 years, as per the India Retirement Index Study (IRIS) released by Max Life Insurance. Encouragingly, 63 per cent respondents have already begun investing for retirement, leading to reduced concerns about meeting both basic and luxury needs, as well as securing their children's futures, it said. A notable 68 per cent of urban Indian working women have begun investing for retirement, it said. The study also highlights regional opportunities in retirement planning across India, with the east zone leading in overall preparedness, the west zone showing financial and health progress but needing emotional focus, and the north and south zones improving in health preparedness index, it said. "Although urban India's retiremen

Scheme gives access to a variety of investment options but may not suit people who desire liquidity in their investments

You cannot exit before age 60 but that is not necessarily a disadvantage

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Retirement fund body EPFO added 12.94 lakh subscribers on a net basis in October 2022, the labour ministry said on Tuesday. The ministry in a statement said that around 2,282 new establishments have started complying for the first time under the Employees' Provident Funds & Miscellaneous Provisions Act, 1952 ensuring social security cover to their employees. A year-on-year comparison of payroll data reflects an increase of 21,026 in net membership in October 2022, it stated. Of the total 12.94 lakh members added during the month, around 7.28 lakh new members have been covered under the social security cover of the EPFO for the first time, the provisional payroll data of Employees' Provident Fund Organisation (EPFO) showed. Among the new members, the highest number was registered for the age group of 18-21 years with 2.19 lakh members. This was followed by the age group of 22-25 years with 1.97 lakh members. Out of the total new members who joined, approximately 57.25 per cent are .

The first offers a guaranteed rate of return for long; the other secures income for the rest of your life

Should India consider raising the retirement age?

India is preparing to face the challenges of rising elderly population. Its largest retirement fund EPFO recently backed the idea of raising the retirement age in line with western countries to deal w

Making adequate provision for your spouse and yourself for a prolonged period of retirement must take precedence over distributing your wealth among your children

Net new enrolments with retirement fund body EPFO declined marginally to 11.22 lakh in March from 11.28 lakh in February this year, according to payroll data released on Thursday.

Check whether you saved adequately during the previous financial year, your asset allocation is in sync, and you have adequate life and health insurance

While new online facility will make part withdrawal convenient, subscribers must exercise restraint

The disciplined ones can accumulate for this crucial goal, using equity, debt funds, and NPS

Heuristic guidelines are a good place to start. Once you get a hold on them, seek professional advice

The bonds were issued in January 2018 for residents and Hindu Undivided Family (or HUF) members, and became instantly popular.

Investors include armed force veterans, govt employees, IT sector staff

If you are risk tolerant, adopt an aggressive investment strategy and invest in market-linked funds

Equity and debt mutual funds, NPS, EPF and PPF are some of the key instruments you should use to build your retirement corpus

The lack of saving is likely linked to low knowledge of how much money is needed in retirement, as well as many prioritising their immediate financial situation over planning for their older years