A New Pension Scheme (NPS) account can be opened by any Indian Resident or Non Resident Indian (NRI), aged between 18 to 55 years. You can open NPS account Offline (would need to visit the nearest Point of Presence (POP) or POP Service Providers (POP-SP)) or Online (ICICI Direct, … [Read more...] about How to Open New Pension Scheme (NPS) Account?
How to Claim Tax Rebate for your Pension Contribution?
Tax Rebate to your Pension Contribution The taxman will give following tax relief (under Sections 80C, 80CCC and 80CCD) to your pension contribution. The limit for maximum deduction (As per Section 80CCE) available under Sections 80C, 80CCC, and 80CCD (combined together) is Rs. … [Read more...] about How to Claim Tax Rebate for your Pension Contribution?
All you wanted to know about New Pension Scheme (NPS)
What is New Pension Scheme (NPS)? The New Pension Scheme or NPS is a voluntary contributory pension scheme introduced by the Central Government. The NPS is administered by Pension Fund Regulatory and Development Authority (PFRDA). Under the NPS, individuals can open a personal … [Read more...] about All you wanted to know about New Pension Scheme (NPS)
Union Cabinet approves FDI hike to 49% in Pension Bill
The Union Cabinet approves FDI hike in Pension Fund Regulatory & Development Bill from 26% to 49%. Till now, 26 per cent foreign direct investment was allowed in the insurance sector while the pensions business was closed to foreign investment. Pension Fund Regulatory & … [Read more...] about Union Cabinet approves FDI hike to 49% in Pension Bill
Union Cabinet approves FDI hike to 49% in Insurance Bill
The Union Cabinet approves FDI hike in Insurance Laws (Amendment) Bill, 2008 from 26% to 49%. Insurance Laws (Amendment) Bill, 2008 Following are the major changes approved by Union Cabinet - 1- Raises Foreign Direct Investment limit in the insurance sector to 49% from … [Read more...] about Union Cabinet approves FDI hike to 49% in Insurance Bill
What is a Pension Plan?
What is a Pension? The english dictionary defines the word pension as “a fixed amount, other than wages, paid at regular intervals to a person or to the person's surviving dependents, especially to a person retired from work.” A pension is just one way of saving for … [Read more...] about What is a Pension Plan?
New Pension Scheme (NPS) : Glossary
ASP: Annuity Service Provider Pension Fund Regulatory and Development Authority (PFRDA) has empaneled the following six IRDA approved life insurance companies for providing annuity services to the subscribers of National Pension System (NPS). 1. Life Insurance Corporation of … [Read more...] about New Pension Scheme (NPS) : Glossary
How to open an Online PPF Account in SBI Bank?
Step 1 - Choose the SBI Branch To apply for opening a PPF Account, you first need to check the nearest SBI Branch, which offers PPF Account. If you don't have online SBI Account you have to visit the SBI Branch to open Saving account first. Step 2 - SBI PPF Account To open … [Read more...] about How to open an Online PPF Account in SBI Bank?
Bharti-AXA Life's Power Kid Child Plan : Review
Salient features of Power Kid Plan Bharti AXA Life Power Kid Insurance Plan is a unit linked plan Minimum Entry Age: 21 years Maximum Entry Age: 50 years Maturity Age: 70 Years (for 20 years term) Policy Term: 15 and 20 years Minimum Premium: Rs 26,000 Maturity … [Read more...] about Bharti-AXA Life's Power Kid Child Plan : Review
Pension Terms You Must Know
Annuitant This is a person who receives, or is entitled to, an annuity. Annuity This is a fixed amount of money paid each year until a particular event (such as a death). It might be split into more than one payment, for example monthly payments. Annuity Rate This … [Read more...] about Pension Terms You Must Know