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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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Superannuation benefit plans in India

Superannuation is a form of retirement benefit that employers offer to employees. This may be the result of government mandates or could be an incentive for employee retention. Types of superannuation plans India has two types of superannuation benefit plans. Defined-benefit plans These schemes have a defined benefit, fixed and known to the employees, based […]

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Different superannuation schemes in India

An integral part of social security in India is superannuation benefits. These are available in different formats. Employers can compare and identify the best plans available that they can then offer their employees. In India, Superannuation plans come in two main types: for accumulating retirement savings and for generating pension after retirement. Post-retirement benefit plans […]

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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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