Retirement Planning

The importance of investing in secure financial instruments like PPF has grown in the wake of economic uncertainties, rising inflation, and evolving tax laws.

Imagine stepping into retirement with a sense of complete financial security, knowing you have built a corpus that ensures a steady income for the rest of your life. 

For many seeking a tax-efficient and reliable method to grow their retirement corpus, the Public Provident Fund (PPF) stands out as a popular choice.

A structured pension plan like UPS or NPS provides a systematic way to save and grow your retirement corpus, ensuring a steady income post-retirement.

On August 24, 2024, Saturday, the Modi 3.0 government’s union cabinet approved the Unified Pension Scheme (UPS) for central government employees

If you intend to choose a systematic lumpsum withdrawal for your NPS corpus upon retirement, it is crucial to understand its functionality and the applicable taxation.

Creating a smart retirement strategy is crucial to ensure you spend the golden years of your life stress-free.

In the last few years, the PFRDA statistics reveal a rising trend in partial withdrawal requests and such applications being processed, particularly after the COVID-19 pandemic.

Among the recently proposed changes in the NPS, is allowing the ‘Systematic Lumpsum Withdrawal (SLW)’ option by the end of this quarter.

Retiring on a budget is challenging, especially for those living on a fixed income; however, smart retirement planning can help.