Atal Pension Yojana VS National Pension Scheme – Which One Is Better?


Retirement planning is not confined to saving money only. It refers to the systematic approach that can build retirement corpus, which is sufficient to meet post-retirement financial obligations. Most individuals may involve in various saving schemes or insurance scheme or mutual funds to build a handsome retirement corpus, with the lump sum or regular income. However, most people find this process pretty daunting. Choosing the best saving scheme without prior knowledge can be difficult. If you are facing the same issues, then you have come to the right place. Because I am going to compare two most important retirement schemes in this guide.

pensions3Read More

Investing in National pension scheme-Here is how to do it

NPS stands for National Pension Scheme introduced by the Indian Government. NPS is a retirement saving plan for an employee but built by both employer and employee. It is payable to the employee at the time of retirement. The main objective is to empower employees financially after retirement. This is applicable for central or state government officials or common citizens who are employed.

In the following guide, you will learn how to invest in NPS. Although, this scheme is for everyone but most people have no clue about its working. After reading this guide, you have a precise idea about making the investment in NPS.
Shall we begin!


Read More

How To Withdraw Funds From NPS After Retirement

NPS is a defined retirement plan that needs to be financed till the age of 60 years. Once the subscriber attains the age of 60 years, he/she can apply for withdrawal.  A few years back, you could not make a premature withdrawal. Thanks to recent reforms, NPS is offering partial withdrawal with specific terms.

You must be near to retirement; that’s why you landed here. Yes, we are going to explain withdrawal process. Before we jump into process details, you must have an idea about withdrawal terms and rules. Let’s check them out first and then proceed to withdrawal process!

NPS Withdrawal Rules

Different rules

Read More

How can NPS help you save taxes

Admit it, we all opt for saving schemes to build retirement corpus with optimum tax benefits. Same applies to National Pension Scheme. When it comes to tax saving schemes, NPS always stand out with its exceptional tax benefits.
Today, we are going to review old and latest updates about NPS tax benefits. People frequently ask about tax treatment at maturity; we will touch this section too. In short, we will show how investment in NPS makes sense!
Shall we begin!

Tax Benefits For Investment In NPS

Before we move, be clear about one thing! Tax benefits are available for contribution towards Tier-I NPS account only. If you want

Read More

National pension scheme: All you need to know

Today’s post covers everything about National Pension Scheme.With reducing government jobs and government of India slowly taking away pensions from various job categories planning your post-retirement pension has become imperative not just for private sector employees but also for PSUs and government employees. To cater to these requirements government of India through an act of parliament create a voluntary based contribution pension system called NPS (National Pension scheme). All government employees who joined after Jan 1, 2004, do not have access to pension benefits and can avail NPS. It was subsequently opened to all Indian citizens in 2009.

If you have questions on how NPS is administered, benefits, drawbacks , how to invest in NPS etc. The post is designed for you . We will cover all important

Read More

5 Reasons why you should not invest in Post Office schemes

Post office  department has been the pillar of small savings in India. With a total  investment base of about 6 lac crores, they are one of the biggest deposit mobilizers  in Indian banking sector. While traditionally Post office schemes enjoyed huge popularity due to round the corner presence , local trust and the fact that they offered slightly higher returns than similar schemes from banks but they have not at all kept pace with improvements in banking services and customer facilities. Here are 5 reasons why I do not recommend investing in post office schemes

Non-Core Banking Service

Most of the post offices are still not on Core banking platform as a result whatever investments or savings you park with them stay with the local branch. For any changes, pre-mature withdrawals etc you

Read More

20 tips to help you do more with your money

As the say money makes the mare go.  While money cannot buy happiness always but it can do it most of the times. Here are some tips so that you do not run after money but money  works for you.

  • Never Spend more than you earn
  • Most of the time you do not what is happening to your money so always create a budget plan
  • Before you spend pay your loans starting with costly loan which is mostly credit card
  • Whenever possible replace high-cost loan with a low cost one.
  • Investing in real estate is overhyped especially when it is not for personal use
  • Retirement planning starts when you are young not when you are close to retirement
  • Never underestimate the power of compounding, It’s more powerful than anything else.
  • Never underestimate inflation it can eat into your savings quickly
  • When

    Read More

Looking to Save 1crore: Here is how you can do it

Becoming a crorepati in India or a Millionaire in the US has some kind of romance and enigma associated with it. From Bollywood movies to TV shows like Kaun Banega Crorepati being crorepati is associated with feelings like Oh yes I have arrived at a sense of entering the elite league. The league which smokes cigars drives convertibles on Marine drive and bets big on horse racing in Mahalakshmi grounds. With increasing incomes and increasing inflation what you can get done with 1 crore has reduced considerably but the SWAG value of being called crorepati has not reduced one bit.

So what can you do with Rs 1 crore today

  1. You can buy a 1 Bhk apartment in Andheri
  2. You can buy a 2 bhk apartment in Thane
  3. You can get a new BMW

    Read More

Looking to transfer PF : Here is what you need to know

Did you just switch to the new job? Are you planning to transfer the PF account and have no clue about the process? Luckily, you are in the right spot.

A few years back, transfer of PF account seemed to be impossible. But today, EPFO is making the sincere effort to make PF system useful and convenient for the employees. Transfer of PF account is the most prominent feature offered by EPFO.
In past, you had to make PF withdrawal when you get the new job. This situation was not healthy; you would receive taxable PF corpus. Today, you have complete freedom regarding PF account transfer. Not only you can forward the previous balance to a new account, but you can also continue the pension scheme for

Read More

Fixed Deposits: All you need to know

A fixed deposit is one such financial instrument which will help you deposit a sum with a bank for a predetermined period of time and the bank pays an interest on that sum. In essence, it’s a way of lending money to a bank, the opposite of taking a loan. These are sometimes even referred to as bonds or term deposits.

A fixed deposit is one of the primary sources of cheap capital for any bank. This capital, multiplied by millions of fixed deposits made by a countless number of people adds up to a huge corpus which the bank lends out to people in the form of various loans, among other investment avenues. The difference in the interest received by the person making a fixed

Read More