The government introduced the National Pension System (NPS) as a retirement savings plan to support individuals during their working years. Initially launched in 2004 for government employees, it was extended to the general public in 2005. The NPS encourages individuals to save for retirement by contributing during their employment. At the time of the maturity …
When planning for retirement, two prominent pension schemes often spark discussions: the Old Pension Scheme (OPS) and the National Pension Scheme (NPS). Each scheme comes with its own structure, benefits, and long-term financial implications, making the choice between them crucial for securing your future. While OPS offers a defined benefit structure with guaranteed returns, NPS …
The pension schemes in India are varied, and designed to meet the different needs of public and private sector employees. It’s important to understand these schemes to make well-informed retirement planning decisions. The Modi government has launched a new pension plan called the Unified Pension Scheme (UPS) for central government employees who joined after January …
