Depending upon your own financial situation, there are many ways in which you can ease your dad’s financial burden. Here are a few you can consider.
Under EDLI, if an employee dies for any reason during his service period, his nominee receives a insurance benefit of up to Rs 7 lakh
Employees working in the organized sector who are opting for higher pension will have to contribute 1.16% more to the Employees' Pension Scheme (EPS).
Currently, NPS account holders, who are 60 years old, are allowed to withdraw up to 60% of their total deposited amount, which they could either spend
Currently, the Pension Fund Regulatory and Development Authority (PFRDA) allows subscribers to enroll by physical, net banking, and other digital form
If an individual faces any problem during the process, SBI will inform within due time.
The goal is to keep NPS Trust separate from the pension regulator and administered by a 15-member competent board.
According to a recent survey, India’s pension system ranks poorly among those of different nations.
You can choose the premium of the pension plan according to the age and pension amount.
Mercer CFA Global Pension Index for 2021 ranks India 40th out of 43 countries.