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The employees of central and state public sector undertakings, besides private sector employees, are referred to as corporate subscribers. These are mainly voluntary enrolments.
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Have a safety net around yourself, the foundation of which lies in a comprehensive health insurance plan. If your family has a history of certain diseases like diabetes, cancer, be sure to take on additional riders for the same.
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The NPS is run by the Pension Fund Regulatory and Development Authority. Both the subscriber and the employer contribute an equal amount to an individual’s account.
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At present, 5 states namely Rajasthan, Chhattisgarh, Jharkhand, Punjab and Himachal Pradesh have gone back to the OPS model. Starting November, Rajasthan, Madhya Pradesh, Chattisgarh, Telangana and Mizoram are slated to go to polls.
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86% of those enrolled in NPS felt far more confident about their retirement as compared to 74% of those who had not joined the NPS ecosystem
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Corporate subscribers are largely voluntary, which means they can choose other investment alternatives. That they are choosing to put aside a part of their monthly income in NPS is testament to its rising popularity for retirement planning and long-term investing.
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Off-late, pension funds have been trying to invest in asset classes with handsome returns and where these funds have never invested before.
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The mass dropout signals a rising cost of living, squeezing out the ability of the poor members to pay monthly contributions to the scheme
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The dynamics of retirement are changing fast. Life expectancy is on the rise, and so are medical costs and lifestyle diseases
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Mohanty noted that guarantees come at a cost, albeit with relatively lower returns. Staying invested in markets for the long-term is bound to deliver handsome returns.