ome> Spotlight>National Pension System - Retirement Plan for All National Pension System - Retirement Plan for All Pension plans provide financial security and stability during old age when people dont have a regular source of income. Retirement plan ensures that people live with pride and without compromising on their standard of living during advancing years. Pension scheme gives an opportunity to invest and accumulate savings and get lump sum amount as regular income through annuity plan on retirement. According to United Nations Population Division Worlds life expectancy is expected to reach 75 years by 2050 from present level of 65 years. The better health and sanitation conditions in India have increased the life span. As a result number of post-retirement years increases. Thus, rising cost of living, inflation and life expectancy make retirement planning essential part of todays life. To provide social security to more citizens the Government of India has started the National Pension System. NPS Regulator and Entities for NPS Who can join NPS ? Benefits of NPS Tax Benefits Charges National Pension System Government of India established Pension Fund Regulatory and Development Authority (PFRDA)on 10thOctober, 2003 to develop and regulate pension sector in the country. The National Pension System (NPS) was launched on 1st January, 2004 with the objective of providing retirement income to all the citizens.NPSaims to institute pension reforms and to inculcate the habit of saving for retirement amongst the citizens. Iindia.gov.in/spotlight/national-pension-system-retirement-plan-all#nps4
Posted on: Sun, 26 Jan 2014 09:36:13 +0000
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