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Source: Live Mint The Central Pension Accounting Office (CPAO) on March 12 issued instructions to all relevant authorities to stick to its new guidelines of processing NPS pension cases in the same manner as the Old Pension Scheme (OPS). Earlier, on December 18, 2023, the CPAO had issued guidelines to implement the method in order…
Source: Live Mint Here is a look at how equity and debt categories of NPS schemes have performed over time versus the respective benchmark indices. Past performance A three-year rolling return analysis of NPS equity schemes — with at least a 10-year track record – showed average returns of 13.5%. Net asset value (NAV) history…
Source: Live Mint With financial year 2024-25 soon coming to an end, only three weeks are remaining before the taxpayers can invest in the tax-saving instruments such as PPF, NSC, KVP, SSY and SCSS. Taxpayers who wish to claim income tax deduction must invest in these instruments before March 31. Where can taxpayers invest to…
Source: Live Mint National pension system (NPS) and employee provident fund (EPF) are two key retirement schemes in India. While anyone can open an NPS account, one has to be in a full-time job to contribute to EPF. Some employers now provide both, allowing employees to boost their retirement corpus while enjoying tax perks. But…
Source: Live Mint With the new tax regime becoming increasingly prevalent and more common, taxpayers stand to lose their eligibility to claim most of the exemption and deductions offered under various provisions such as sections 80C, 80D, 80DD and 80G under the old tax regime. Nearly 73 percent of taxpayers have already opted for the new…
Source: Live Mint I applied for Portugal Golden Visa with my children’s education in mind. I was been granted one and now live in Portugal where I have my own business. Since I’m an Indian citizen, how will my NPS annuity be taxed in India? Will it change if I apply for Portuguese citizenship in…
Source: Live Mint The central government announced that the Unified Pension Scheme (UPS) will be available as an option under the National Pension System for the employees working under the government, according to an official notification on January 24. “The Unified Pension Scheme shall be applicable to such Central Government employees who are covered under…
Source: Live Mint In FY 2023-24, the new tax regime became a default regime. This shift has led many taxpayers to wonder whether traditional tax-saving investments such as PPF (Public Provident Fund), NSC (National Savings Certificate), post office saving scheme and NPS (National Pension System) are still relevant for the purpose of investment. The tax-saving…
Source: Live Mint The National Pension System (NPS) introduced in 2004 for government employees has since been extended to others but adoption has been slower than desired, said Deepak Mohanty, chairperson of the Pension Fund Regulatory and Development Authority (PFRDA), at the 17th edition of the Mint BFSI Summit and Awards on Friday. Underscoring a…
Source: Live Mint The National Pension System (NPS) is a retirement savings scheme that is mandatory for government employees and optional for those in the private sector. It also offers tax benefits of up to ₹2 lakh under section 80CCD(1) and 80CCD (1B) of the Income Tax Act, 1961. One has to be a resident…
