Pension Awareness Day: Everything you need to know about NPS Diwas

Atal Pension Yojana (APY) is a government backed National Pension Scheme, nps open to all citizens of India. APY primarily focuses on the unorganised sector. It is administered by the Pension Fund regulatory and Development Authority (PFRDA). This scheme guarantees a minimum monthly pension in lower annuities between 1000 to 5000. Beneficiaries can opt for a pension of 1000, 2000,3000, 4000, 5000 rupees which they will start to receive as they attain 60 years of age. The amount of pension one receives is directly linked to the age at which they joined the scheme and the monthly amount contributed towards APY. Who can invest and when can they begin investment here? All Indian citizens between the age of 18 to 40 years can enroll under APY to begin receiving a pension after the age of 60. Any person who wishes to enroll under APY, must contribute to the scheme for a period of 20 years. Any individual enrolled under Swavalamban Yojana will be migrated under Atal Pension Scheme automatica...

  The past 2 years have been absolutely chaotic due to the pandemic. Many of us overlooked key financial tasks as we struggled to stay afloat and used up our Retirement planning savings. With Financial year 2021 closing, it's time we get our finances in order to maximize tax savings and move closer to our financial goals.Whether it's the beginning of your career or you’re still in the stage of figuring out your future plans or you’re preparing for retirement, here are a few things you must have in place as you step into the new financial year : Taking a closer look at your Bahi-Khata (Portfolio): Income Tax Planning : Tax planning is one of the most important activities that we must plan as we near the end of a financial year. It is important to review the differences between the new and old tax regimes every budget and figure which works best for you. There are investment instruments like PPF, ELSS etc that provide tax benefit up to Rs. 150000 under 80(C) and hence its impor...

  4 out of 5 Indians are not prepared for their retirement needs. As the average population starts ageing, a larger group of the population will be in their retirement days. This is a huge problem that needs immediate attention.Capturing memories for your retirement days to be momentous was a splendid idea by someone for someone, but will those golden days be as prosperous as the memories your Retirement planning , then keep on reading. Will you be earning eternally? Or will you be parasitizing over your offspring after your earning stops? Even if you have the slightest thoughts about being dependent upon your children, STOP! Stop right there! Read this blog thoroughly, and take your first step towards retirement planning today. Living longer doesn't always guarantee healthier living. Hence, living longer costs you bread as well as medicines. Setting up your Get Early Retirement stability before the rock hits you, should be the major point of focus. Counting only on th...

  Before you start reading this article, let us clarify that the best age or the time to start planning your retirement is from the day when this thought comes to your mind.We have all heard of – the early, the better but mid to late 20’s is the age when most of us have settled in our jobs or Best Pension planning to study and of course, we do have a lot of things to be checked out with you becoming financially independent. We trust you would like to remain financially independent when you have grey hairs, hence read through the article to understand how do you plan your retirement when you are in your 30’s and should consider doing it seriously.   Step 1: Get the debts straight Yes, you heard it right. When you are in your 30’s, there will be some big milestones like owning a house, buying a car or taking that trip to Europe with your family.Not to mention, your family will be growing as well so soon you might need funds for education. In a nutshell, before you plan your Re...

  Before you start reading this article, let us clarify that the best age or the time to start Best Pension planning your retirement is from the day when this thought comes to your mind. We have all heard of – the early, the better but mid to late 20’s is the age when most of us have settled in our jobs or planning to study and of course, we do have a lot of things to be checked out with you becoming financially independent.We trust you would like to remain f Financial Planning independent when you have grey hairs, hence read through the article to understand how do you plan your retirement when you are in your 30’s and should consider doing it seriously. Step 1: Get the debts straight Yes, you heard it right. When you are in your 30’s, there will be some big milestones like owning a house, buying a car or taking that trip to Europe with your family.Not to mention, My Pension y our family will be growing as well so soon you might need funds for education. In a nutshell, before ...

  The past 2 years have been absolutely chaotic due to the pandemic. Many of us overlooked key financial tasks as we struggled to stay afloat and used up our Retirement planning savings. With Financial year 2021 closing, it's time we get our finances in order to maximize tax savings and move closer to our financial goals.Whether it's the beginning of your career or you’re still in the stage of figuring out your future plans or you’re preparing for retirement, here are a few things you must have in place as you step into the new financial year : Taking a closer look at your Bahi-Khata (Portfolio): Year end is a good time to review how your investments have been keeping up. You must keep track if your portfolio is growing by at least more than the rate of inflation just to make sure that your investments are fetching good returns. Based on this we can further work on the asset allocation of our portfolio. We must re assess our risk taking capability and accordingly re-invest in...

  What is co-creation? Co-creation is the process of building a solution to solve a major problem with the people who are facing it. Imagine a shoe company that creates shoes for the athletes according to their Retirement planning as per their feedback, being well versed with details regarding their comfort and challenges before hand and catering product accordingly. Won’t they make better shoes? Chances are, they will. How does it work? For decades, companies have made products first and then sold them to the users through marketing & advertising. Some companies did great and some didn’t. Co-creation bridges the gap between a company & its customers.Companies know about their customer’s need and the customers see the product in making from day one. With PensionBox, users can use the link: www.pensionbox.in / getearlyaccess Post sign up, you will receive an introduction call from our founders or core team.After the call, we help early users ...

What is a Pension ? Pension is your monthly income from your Retirement planning savings or the government's pension program. In simple words, Pension = retirement Income.It's like your salary post retirement-simple enough? Let's dive deep into "How did it all start"! History of Pension Romans pioneered the first ever recognizable Best Pension plans in history. In 13 B.C. Augustus had created a pension plan in which retired soldiers received a pension after 16 years of service in a legion and four years in the military reserves.Even after 2000+ years, pension is still practiced by leading institutions around the globe. The Indian National Army is an exemplar that provides retiring pension to officers on completing a minimum qualifying service of 20 years (15 years in case of the late entrant) Germany, United Kingdom, Ireland & the United states were the first few nations to build a pension system for the retired workforce. Pension in India India's traditi...

  Does she get a monthly income to survive? If so, how much? Do you think that’s enough to sustain? Well, we see differences among men and women in almost every sphere of life. It can range from education, securing a job to having equal growth opportunities. pay Pension fund is just one of the many gaps that exist among genders that are not even discussed. The i global gender gap report found out that there is a 9% gender pay gap which has further led to a 40% decline in pension paid to women as compared to men globally. The gender Best Pension Plans gap is the percentage difference of pension income between pension I income received by men and women. This gap has proved to be more harmful to women as l they have access to a lower stream of income. Our men however, seem to have things i somewhat figured out when it comes to financial planning and it’s our women who need to l become more woke about topics like Retirement planning and pension planning. In India, m...

"Money cannot buy you all the happiness in the world", said a man who probably had a lot of money. The problem really is not having any of it. When one doesn't have enough money, it becomes the source of a lot of pain, frustration and anger.All our problems seem to revolve around not having enough of it. Once an individual becomes financially independent, National Pension Scheme, nps all their decisions are not solely based on money. Being financially well means you have your finances in order and the mental and physical stress you feel from monetary issues are minimal.Becoming financially well isn't an overnight thing you can achieve but you can slowly build your finances towards independence.There are concepts like Time value of money, Inflation rate, compound interest that can make it or break it for you. Here are some important steps that you can take to feel Financial Planning stress free: Creating an Emergency Fund This is a fund that is to be used only under ...