Senior Citizens Pension Scheme Announced to Ensure Greater Returns For Elderly Citizens

Senior Citizens Pension Scheme Announced to Ensure Greater Returns For Elderly Citizens

Good news seems to be raining for senior citizens. The Union Budget has proposed to initiate a scheme for senior citizens that would bid an annual return of 8 per cent for a span of 10 years. The Life Insurance Corporation of India (LIC), on April 1, 2017, has launched the scheme offering interest pay outs on an annual, half-yearly, quarterly and monthly basis. Previously, in December 2016, special senior citizens fixed deposit was announced by India’s honourable Prime Minister, Narendra Modi, that offered a certain return of 8 per…

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Separate Needs from Goals and Secure your Future.

Separate Needs from Goals and Secure your Future.

71% of parents in India are willing to go into debt to fund their child’s higher education 3.44% is the dismal extent of insurance penetration in India 89% of healthcare expenditure is done out of pocket by Indians. 71% of what they will actually need at retirement is what most Indians manage to save – up   Source: As quoted by ET Wealth based on Aviva Health Plan India Plan study What does the above data tell us?  The data is an eye-opener on the dismal state of individual financial…

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Things to keep in mind while buying health insurance

Things to keep in mind while buying health insurance

For the normal person buying medical insurance is a sensible practice that has the added encouragement provided by the government in the form of a tax deduction for the premium paid U/s 80D. Not having medical insurance is either a sign of wealth or foolhardiness. Paying a small price relative to the comfort of having a financial backing during medical emergencies is a non-negotiable essential insurance cover. Those who do not want or decide they do not need medical insurance either have liquid wealth that can pay for any medical…

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New Pension scheme rules: How to invest wisely now!

New Pension scheme rules: How to invest wisely now!

From April 1, subscribers will be able to change investment option & asset allocation twice a year, instead of once. Use greater flexibility offered by pension schemes judiciously, experts tell Sanjay Kumar Singh. Until now, subscribers in the National Pension Scheme, NPS, could change their investment option (active or auto choice) and asset allocation (the percentage allocation of your investments to different asset classes such as equities, corporate bonds, government securities and alternative investments) once in a financial year. According to a recent circular from the Pension Fund Regulatory and…

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NPS for tax savings & good retirement planning

NPS for tax savings & good retirement planning

The national pension scheme is a great way to plan retirement as tough partial withdrawal norms help save the final corpus The national pension scheme (NPS), as it is popularly referred to, is a government-backed retirement scheme, which is available to all Indians, aged 18 to 60. NPS has two separate schemes under its general plan, which is open to the general public across the country. The two schemes are named tier I and tier II schemes. While the tier I scheme is a mandatory plan. Only on possession of…

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