New Pension Scheme in India

Author: raj9369 | Posted: 20.06.2012

Securing one’s future is perhaps one of the most important requirements of today’s life. Change is found everywhere and it is no exception that even our lives change as time progresses. Today, we could be earning tens of thousands every month but, there is no guarantee that it continues to be stable or grow. So, in order to make our lives more secure, we need to plan for an alternate source of income in future when we retire. A good pension plan is what we need to look for. In order to plan retirement days without any issues, one needs to opt for pension plans India.

These days, pension plans India are talked about more often because of the seeming benefits. The advantage of opting for pension plans is that they provide a steady income after retirement. It is important to remember that income after retirement is not just a comfort or a luxury which only some people can afford. But today, it is a necessity to plan retirement in advance.

Gone are the days when retired parents could depend on their children for support. It is better to make plans retirement for income rather than to depend upon someone. This is also due to the fact that expenses increase with age. Old age expenses include maintaining a steady and healthy life style, medical expenses, medications, etc. All these expenses are important for a comfortable living and hence it is necessary to plan retirement.

Pension plans India are already present for government employees (both state and central government), public sector employees, etc. But, people working under private sector do not get any kind of pension. Instead, they have to choose the best pension plan that will give the highest benefits to them in the long run.

One of the best pension plans are also incidentally from the Government. The government of India had started its own pension plan which is applicable for private sector employees as well as for business people. This plan was introduced in the year 2003 under the organizational authority of the Pension Fund Regulatory and Development Authority. This organization is responsible for each and every activity that PFRDA takes up.

There are numerous advantages of opting for New Pension Scheme, the best pension plan in India. People with plans retirement can apply for this scheme because of these advantages.

• Any person in India can apply for this pension scheme irrespective of employment in private sector, public sector and business within the age limit of 18 years to 60 years.

• The contributions that have been made to the pension accounts are invested according to the choice of the investor, of course with an advice from the fund managers.

• The investments are made in equity, debt and balanced investments.

• Very low minimum contribution with an amount of Rs.250 per month

• Fund companies can be changed from a list of companies.

• Lowest charges in comparison to any other unit linked pension scheme.

With such plans retirement around, almost all people can dream of a better future during their retirement days.



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