Retirement Savings

How gig workers can start retirement saving early with equity funds, NPS

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

Awareness about retirement planning rising in urban India: Report

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

NPS Vatsalya: Pension plan that starts early for child's financial security

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

NPS vs mutual funds: The better choice to set up your retirement corpus

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

Managing pension corpus, life in retirement: Top personal finance stories

Our top stories this week tell you how to add years to your finances and the best senior living societies

All about pension plans, luxury apartments: Top personal finance stories

This week we explain the pros and cons of deferred annuity plan and what to look for in a gated society home

EPFO adds 1.29 million net subscribers in October, says labour ministry

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 .

Govt bonds and immediate annuity plans: 2 options for retirement income

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

Avoid financial dependence on children post retirement

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

EPFO net new enrolments marginally decline to 1.12 million in March

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.

Tweak your portfolio to help it meet challenges of the new financial year

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

Don't withdraw from the NPS corpus unless you are facing an emergency

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

Retirement funds can nudge investors to save: Who should opt for them?

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

Planned for your retirement yet? Here are some quick thumb rules to start

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

Govt to discontinue 7.75% taxable savings bonds scheme from May 28

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

YES Bank fallout: Retirees stare at a gaping hole in their savings

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

Want to start building retirement corpus early? Use these expert tips

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

Retirement planning: Start early and save corpus for a 90-plus lifespan

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

Two out of three Indians do not save regularly for retirement: HSBC report

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