Unified Pension scheme – 5 Important features – All you need to know
Now, government employees can opt for the unified pension scheme for their retirement purposes with 5 important features. In addition, this scheme was introduced in August 2024 and will be implemented in April 2025. And this UPS combines both features of NPS and the Old Pension Scheme (OPS). 5 Important Features of the Unified Pension Scheme… Assured Pension Under UPS… Government employees who service at least 25 years of service will get a guaranteed pension. In addition, under UPS, the government employees will get 50% of average basic pay as of the last 12 months of service. Again, those …
PMVVY ( 2020-202- Features and Benefits 2020-2023
PMVVY full form is Pradhan Mantri Vaya Vandana Yojana. Now, this scheme has come up with new features and benefits for 2020-2023. In addition, it has 5 changes when compared earlier PMVVY. Pradhan Mantri Vaya Vandana Yojana Features and Benefits are… You should have a minimum of 60 years’ age to buy this scheme. But there no upper age limit is set in this scheme. So, anyone who is more than 60 years of age can buy this scheme. In addition, the monthly pension is 7.4% for Financial Year 2020-2021. The policy term or the pension period is 10 …
NPS Tax Benefits 2019- Under Sections 80 CCD(1), 80 CCD(2) and 80 CCD(1B).
NPS tax benefits changed in Budget 2019. Do you know about the changes done to 80 CCD(1), 80 CCD(2) and 80 CCD(1B) sections? I already wrote a post about EEE exemption of NPS maturity at retirement. Click here to read. But I felt a separate article needed to explain NPS Tax benefits under Budget 2019. Read article about what is NPS? How to join in it?. Click here to read. Earlier NPS has EET tax status. That means when you invest tax exempted, on the return of NPS also tax exemption, But when you withdraw 60% NPS at the time …
Difference between Tier 1 and Tier 2 account of the new pension scheme(NPS).
Tier 1 and Tier 2 both options exist in National Pension System (NPS), But many Government Employees do not know about Tier 2 account. They know only about default account which Tier 1 account. Government of India launched NPS to provid retirement corpus to Indian Citizens. This scheme is regulated by PFRDA( Pension fund Regulatory Development Authority of India). All citizens of India including Non -Resident Indians are eligible to invest in this scheme. However, existing NPS subscribers and people who do not have sound mind are not allowed to enter into this scheme. Hence, One person can have one …
Atal Pension Yojana – APY Scheme Eligibility & Benefits Explained
Atal Pension Yojana – APY Scheme Eligibility & Benefits Explained in this article. This scheme is launched on 9th May 2015. This scheme launched along with Pradhan Mantri Jeevan Jyothi Bhima Yojana (PMJJBY) and Pradhan Mantri Bhima Surakha Bhima Yojana (PMSBY). Latest Updates ( as on 20th August 2015)-Government modified some rules of APY. They are as given below Now instead of only monthly payment option, the subscribers can invest like monthly, quarterly, half-yearly or yearly modes. The account will not be deactivated and closed till the account balance with self-contributions minus the government co-contributions become zero due to deduction …
Pradhan Mantri Shram Yogi Maan-Dhan Features and Eligibility Explained.
Pradhan Mantri Shram Yogi-Maan Dhan will be launched on 15th February, 2019. Lets know the features The subscribers of this pension scheme will get an assured pension of Rs.3,000 from age 60. Would you like to invest in shares (Stocks) with the help of RSI Technical Indicator easily, then click this link to know more. Eligibility for Pradhan Mantri Shram Yogi Maan-Dhan pension Scheme… The following category people are eligible for pension scheme… Monthly income should be less than or equal to Rs.15,000. Age must be between 18 years to 40 years. They should not be covered under the Employee …
National Pension System (NPS)- What is it? How to join in it?
National Pension System (NPS) has been launched by the Government of India to provide corpus at the time of retirement. Read the article about new NPS tax rules beneficial to you?. Click here to read. As I respect the Indian Army, I would like to give a piece of valuable information to them. On February, 2019, 40 Indian Soldiers were killed by Millitants. Their souls should rest piece. Some of you know that I am Certified Financial Planner and Sebi Registered Investment Adviser. Sanjeev Govilla( Ex. Army is also a Sebi Registered Investment Adviser like me. Soldiers may feel comfortable …
NPS Tax Free EEE exemption(2019)- Beneficial to you?
The union cabinet today has cleared five changes to the national pension scheme (NPS or CPS). The most important is that the NPS now has EEE status and the corpus that you can withdraw is tax-free. EEE means that the money you invest in the scheme (up to a limit) is an exempt income tax (1st Exemption) The growth of the money (profit) while you remain invested is exempt from income tax (2nd Exemption), and the corpus that we withdraw (subject to limits in NPS) is also exempt from income tax (3rd Exemption). Prior to this announcement is done, NPS …
