How to choose by comparing the best option for income – pension for you, from pension plan, mutual fund, fixed deposit, senior citizen’s plan and rental income.

Select the best suitable option that can give you freedom to spend freely with life long and sufficient income, after retirement without compromise.

Identifying the best pension option gives you the basic requirement for creating the right retirement plan that is achievable and practically implementable.

#pensionplan #pensionoption #pensionincome #retirementplanning #pensionplanning #retirementfund #retirementcorpus #retirementage #rightpension #sufficientpension #lifelongpension…(read more)

LEARN MORE ABOUT: Retirement Pension Plans

REVEALED: Best Investment During Inflation

HOW TO INVEST IN GOLD: Gold IRA Investing

HOW TO INVEST IN SILVER: Silver IRA Investing

Retirement is one of the most important phases of life, and being prepared for the same is imperative. Considering the uncertain times that we live in, having a steady source of income post-retirement is more important than ever. This is where a pension plan comes into play. A pension plan is a retirement plan that offers regular income to the policyholder after retirement. In India, there are various pension plans available, but the trick is to find the one that suits your needs the best.

One of the best pension plans available in India is the National Pension System (NPS). The NPS is a government-initiated pension scheme that offers a lifetime income post-retirement. It was launched in 2004 and is regulated by the Pension Fund Regulatory and Development Authority (PFRDA).

The NPS offers two types of accounts- Tier-I and Tier-II. Tier-I is the mandatory account that offers tax benefits and is meant for retirement planning. Tier-II, on the other hand, is a voluntary account that is meant for short-term savings and does not offer any tax benefits.

Under the NPS, one can invest in a mix of equity, corporate bonds, government bonds, and other securities. The allocation of funds depends upon the subscriber’s age, risk appetite, and investment goals. The subscriber can also choose between auto and active modes of investing.

One of the biggest advantages of the NPS is its flexibility. The subscriber can choose his/her investment approach, pension fund, and pension fund manager, and can also make partial withdrawals or exit the scheme before retirement.

Apart from the NPS, there are other pension plans available in India such as the Employee Provident Fund (EPF), Public Provident Fund (PPF), and the Atal Pension Yojana (APY), among others.

The EPF is a mandatory contribution-based pension scheme for salaried employees in India. The employer and employee contribute a fixed percentage of the employee’s salary towards the scheme, and the accumulated amount is paid out as pension post-retirement.

PPF is a government-initiated savings scheme that offers a fixed interest rate and tax benefits. The scheme has a lock-in period of 15 years, and the accumulated amount can be withdrawn tax-free after maturity.

APY is a government scheme that is meant for unorganized sector workers. It offers a guaranteed minimum pension income after retirement.

In conclusion, choosing the right pension plan is crucial for a secure post-retirement life. The NPS is one of the best pension plans available in India, offering flexibility, higher returns, and tax benefits. However, one should evaluate all the available options and choose the one that suits their needs the best.