National Pension System

Yoga propagates self-awareness and every pose is about being self aware. In Finance and Investment, the No. 1 trait that differentiates between living a rich or deprived life is being aware about your money and having the right insurance. 

Financial Asana:

In the last two weeks or so, you must have received a line of communication from your HR regarding investment declarations. Many of you must have already done your tax planning. This article is for those willing to save more on taxes by doing some last-minute tax planning.

If the answer is yes to the above questions, then you must consider saving in National Pension System. National Pension System (NPS) is a long-term investment and voluntary plan for retirement under the regulation of the Central Government and Pension Fund Regulatory and Development Authority (PFRDA). In this article, we will learn more about National Pension System.

In certain terms, the government now enables for premature withdrawal from the NPS or National Pension System.

Minister of State for Finance Shiv Pratap Shukla said in reply to a statement in Rajya Sabha on Tuesday that NPS subscribers are liable for three partial withdrawals from the pension system, with each withdrawal not exceeding 25 percent of the contributions.

The partial withdrawals from the NPS system will exclude the employer's contributions, the Minister added.

National Pension System (NPS) is a pension plan managed by the Pension Fund Regulatory and Development Authority (PFRDA) and is gaining popularity among investors primarily because of some tax modifications made in the scheme and the returns generated by the pension fund managers. 

National Pension System, also known as NPS, is a voluntary defined contribution pension system cum tax planning tool introduced by Pension Fund Regulatory and Development Authority (PFRDA), created by an Act of the Parliament of India. The primary objective is enabling systematic savings during the working life of the subscribers.

The aim is to provide retirees with an option to achieve financial stability during their golden years.