Page 2 - Retirement

Planning your retirement? PGIM India Mutual Fund launches a new fund

The fund invests in a mix of assets, including stocks, bonds, and real estate investment trusts (REITs).

EPFO adds net 1.6 mn members in January; 808,000 enroll for 1st time

Retirement fund body EPFO added a net 16.02 lakh subscribers in January 2024, according to payroll data released on Sunday. Around 8.08 lakh members were enrolled for the first time in January 2024, a labour ministry statement said on Sunday. The Employees' Provident Fund Organization's (EPFO) provisional payroll highlighted that the EPFO has added 16.02 lakh members on a net basis in January 2024, the ministry said. A noticeable aspect of the data is the dominance of the 18-25 age group, constituting a significant 56.41 per cent of the total new members added in January 2024 indicating the majority of individuals joining the organized workforce are youth, primarily first-time job seekers. The payroll data highlighted that approximately 12.17 lakh members exited and subsequently rejoined EPFO. These members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement thus, ..

'This is not true': Pugilist Mary Kom rubbishes reports of retirement

Mary Kom retirement: The boxer said that even if she cannot participate in the Olympics anymore, she will still carry on with the sport

Investment by EPFO in ETFs crosses Rs 2.5 trillion: Rameswar Teli to LS

The body had invested Rs 14,983 crore in ETFs in 2016-17, Rs 24,790 crore in 2017-18, Rs 27,974 crore in 2018-19, Rs 31,501 crore in 2019-20, and Rs 32,071 crore in 2020-21, according to the reply

RIL, ICICI, Infy to draw highest flows on US retirement fund switch

The flows in these four companies will range between Rs 1,200 crore and Rs 2,000 crore

Retirement planning for self-employed: Invest in NPS, PPF and MF SIPs

Instead of reinvesting all surplus in business, invest a part in accumulating a corpus

Retirement planning, secondary sources of income rise up the priority list

67% Indians now have retirement plan compared to 49% in 2020

India's retirement system improved to some extent from last year: MCGPI

Even as India's retirement system has improved to some extent from last year, the country ranked 45 out of the 47 retirement income systems analysed, a report said on Tuesday. India had an overall index value of 45.9 from 44.5 in 2022, ranking 45 out of the 47 retirement income systems analysed primarily due to improvement in adequacy and sustainability sub-indices, according to the 15th annual Mercer CFA Institute Global Pension Index (MCGPI). The Netherlands had the highest overall index value (85.0), closely followed by Iceland (83.5) and Denmark (81.3). Argentina had the lowest index value (42.3), it added. This year, the Global Pension Index compares 47 retirement income systems across the globe and covers 64 per cent of the world's population. The Global Pension Index uses the weighted average of the sub-indices of adequacy, sustainability and integrity to measure each retirement system against more than 50 indicators. The 2023 Global Pension index includes three new retirem

Retired comfortably: Old age homes that are worth the investment

Such properties are designed for the elderly and give them company and security

Home safe in retirement, best online shopping: Top personal finance stories

Our best stories this week are about housing projects for the elderly and how to get the best festive season deals

Efforts on to make NPS available at all banks, post offices: PFRDA Chairman

Regulator PFRDA is working on ways to make the social security scheme National Pension System (NPS) available at all bank branches and post offices, according to its Chairman Deepak Mohanty. The efforts are to increase the penetration of pension schemes by making the NPS products easily available to the public. In an interview to PTI Bhasha, Mohanty said the PFRDA has roped in Regional Rural Banks (RRBs) and banking correspondents for the distribution of the NPS so that people even in villages and small towns will be able to easily avail the benefits of the scheme. "We are trying to make the NPS easily available to the people through all bank branches and post offices. We have also discussed this matter at the top management levels but ultimately it is up to the banks to take a decision on this matter," the PFRDA (Pension Fund Regulatory and Development Authority) Chairman said. Currently, NPS is available in many bank branches. He also said the aim is to add a total of 13 lakh NP

Rajasthan elections: CM approves retirement benefits for part-time workers

Rajasthan's animal welfare board has been named "Amrita Devi State Animal Welfare Board", after Amrita Devi Bishnoi, during a state cabinet meeting

Centre considers raising retirement age for public sector bank heads, MDs

State Bank of India Chairman Dinesh Khara is likely to get an extension as the government is considering relaxing the retirement age of chiefs of all public sector banks and LIC. The proposal before the government also includes hiking the retirement age limit of managing directors of public sector banks (PSBs) to 62 years, from the current 60 years, a senior government official said on Saturday. Veteran banker Khara took over as the chairman of SBI in October 2020 for three years. Under existing norms, the SBI chairman can hold the post until the age of 63 years. Khara attains 63 years in August next year. "There is a discussion to increase the age limit for retirement of chiefs of PSBs and Life Insurance Corp (LIC). Simultaneously, discussions are on for raising superannuation age for managing directors of PSBs to 62 years from 60 years," the official said. A final decision is yet to be taken on the retirement age for heads of PSBs and LIC, the official added. Currently, the ...

Indians slowly gaining footing in planning for retirement: Survey

Indians are slowly making progress in retirement planning, even though the country is under-protected in terms of retirement corpus, according to a survey by Max Life Insurance. The India Retirement Index Study (IRIS), conducted in partnership with data analytics company KANTAR, showed a significant upward movement to 47 from 44. The online survey was conducted among 2,093 respondents across 28 cities in India. The index mapped respondents' views on health, finance and emotion. Max Life Managing Director & CEO Prashant Tripathy said people have started giving importance to health and are resorting to health insurance and periodic check-ups, but very few are focusing on physical activity or wellness. As per the survey, 44 per cent of the respondents have a health insurance and 58 per cent have undergone health check-ups in last three years. "People in India has been putting far greater weight to health. Zone-wise, eastern region and Tier 2 cities are making good progress in terms .

'No proposal under deliberation to change retirement age of govt employees'

Union Minister Jitendra Singh on Wednesday said there is no proposal under consideration to change the retirement age of central government employees. In a written reply to a question in Lok Sabha, Singh said 122 government officers have been given compulsory retirement in the last three years under different provisions of service rules. "As per the updated information/data available on the probity portal (as on 30.06.2023) as provided by different ministries/departments/cadre controlling authorities (CCAs), provisions of Fundamental Rules (FR)-56(j)/similar provisions have been invoked against a total of 122 officers during the last three years (2020-2023), including the current year," the Minister of State for Personnel said. "There is no proposal under consideration to change the retirement age of the central government employees," Singh said. He also said that the objective of the review process under the FR 56(j)/similar provisions is to bring efficiency and to strengthen the

England pacer Stuart Broad announces retirement from all forms of cricket

37-year-old Broad will hang up his boots from all forms of cricket after the completion of the 5th Ashes Test, i.e. on July 30 or July 31

Pakistan's Ayesha Naseem retires at the age of 18 for religious reasons

The Pakistan star women cricketer retired from international cricket citing religious reasons for her decision, saying she wants to live her life "according to Islam"

Factor in purchase price plus service costs in the retirement home

Exiting such a project may not be easy since such housing is open only to those above 55

Prioritise retirement security, withdraw from NPS only in emergency

Since access to NPS corpus is restricted, build emergency fund, diversify into equity and debt MFs

How To Withdraw PF Advance Online? Here's A Step-By-Step Guide