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National Pension System (NPS) is a defined-contribution pension scheme in India for government and private sector employees and citizens. It is regulated by PFRDA and offers tax benefits, annuity options and exit options at maturity.
Learn about the different types of pension schemes in India, such as the non-contributory social assistance, the civil service pension, the national pension system, and the mandatory provident fund. Compare the eligibility, funding, and benefits of each scheme and see the references and links for more information.
Indian culture has a traditional concept that retirement can include sannyasa, which is a phase of life for focusing on spiritual development. [5] A 2013 report found that there is trend for people to be worked till older age. [6] A 2001 report described high diversity in expectations of retirement across generations and urban versus rural life ...
India has one of the lowest average retirement ages in the world, right up there with Indonesia, Saudi Arabia, and China. Generally speaking, people in India reportedly retire between the ages of ...
EPFO is a social security organization under the Government of India that regulates and manages provident funds, pension schemes and insurance for employees in India. It was established in 1952 and has a Central Board of Trustees, a Universal Account Number and international agreements.
A voluntary savings-cum-tax-reduction social security instrument in India, introduced by the Ministry of Finance in 1968. It offers an investment with reasonable returns combined with income tax benefits, and has a minimum deposit of ₹ 500 and a maximum of ₹ 1.5 lacs per year.
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