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NPS is a quasi-EET instrument in India where 40% of the corpus escapes tax at maturity, while 60% of the corpus is taxable. [7] [8] [9] Of the 60% taxable corpus, 40% is tax-exempt as it has to be compulsorily used to purchase an annuity. [10] The annuity income will be taxed, though.
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Pension Fund Regulatory and Development Authority (PFRDA) is the regulatory body for overall supervision and regulation of pensions in India. [2] It operates under the jurisdiction of Ministry of Finance in the Government of India.
Retirement planning, in a financial context, refers to the allocation of savings or revenue for retirement. The goal of retirement planning is to achieve financial independence. The process of retirement planning aims to: [1] Assess readiness-to-retire given a desired retirement age and lifestyle, i.e., whether one has enough money to retire
Using the 4% rule, $500,000 in retirement savings would give you $20,000 per year. You likely would need additional income, at least until you begin collecting Social Security . Can I retire at 55 ...
When it comes to retirement planning, 401(ks) are often touted as one of the best ways to prepare for that day when you are no longer drawing a work-related income. While 401(k)s have many ...