What is the Pension System in India?

Pre-Independence Pension System The British started the pension system in India after the Indian struggle for independence in 1857. This was the reflection of the pension scheme then prevailing in Britain. But the provisions of this system discouraged the employees for creating a financial cover for their post-retirement life. So, confronting to all these problems, […]

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What is Superannuation Benefit in India?

Superannuation refers to the retirement benefit offered to the working class. In India, there are two types of superannuation benefits: Defined Benefit Plans: These schemes have a defined benefit which is fixed and known to the employees based on their service, rank and final salary. These are more popular among the employees, since regardless of […]

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What are different Superannuation Schemes in India?

Superannuation being one integral aspect of social security is available as a product to the employers at different benefit rates in India. Employers have a market where they can compare and hitherto identify the best plans available. While the pre-retirement accumulation plans are offered by the Central Govt. Authority, the post-retirement annuities can be bought […]

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How does the National Pension Scheme Work?

National Pension Scheme (NPS) is a Government program under The National Pension System of India. The scheme looks forward to securing employees post retirement. The Government of India adopted the system from 1st January 2004. Under the NPS, every candidate has to acquire PRAN (permanent retirement account number) for the allotment of eligibility. In the […]

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Different kinds of Annuity products available in India ?

Annuities can be categorized in following three ways: Starting Time of the Annuity Type of Pension Amounts offered Type of Pension Scheme Annuities based on Starting Time Deferred Annuity – Your investment is made into a fund (of your choice) which keeps growing for a chosen period of time.  You can choose the time when […]

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Benefits of Group Superannuation Plan

Ironically today, when there are higher chances of outliving our savings, very few employees, are taking out enough time to plan their retirement. The majority of them are not even inclined to save for retirement regularly. Employees are a valuable asset to any company, and as an employer, you can retain staff for longer by […]

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