Dipen Mittal, Manager at Taxmann.com in a conversation with Himali Patel of Outlook Money
Let’s have a look at what National Pension Scheme (NPS) is all about.
The government plans to raise pension limit upto Rs 10,000 a month to increase subscriber base
Ideally you should keep insurance and pension separate
Pension plans lead to long-term wealth creation and encourage dedicated saving for the retirement years
There are two kinds of pension plans offered by insurers—immediate annuity plans and deferred annuity plans
As soon as you turn 60, when you will retire, you should opt for Pradhan Mantri Vaya Vandana Yojana
The savings potential depends on the financial commitments and income of the individual