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Updated Apr 17, 2021 | 08:57 IST
PPF and NPS are two most popular long-term investment schemes which has multiple benefits. But which one will make you crorepati faster? Let s find out using PPF calculator and NPS calculator PPF or NPS: Which will make you crorepati faster | Photo Credit: Thinkstock
Public Provident Fund (PPF) and National Pension System (NPS) are among the most popular retirement schemes. While PPF is solely debt-oriented backed by the government, NPS is market-linked consisting of both debt and equity. While PPF fetches a floating rate of interest determined by the government every quarter, NPS returns are based on investment mix and market but the latter is heavily regulated.
Highlights
PFRDA Chairman said that around 15,000 people above 60 joined NPS.
There is also a proposal to hike the maximum corpus limit to Rs 5 lakh
The maximum age of entry into the National Pension System (NPS) may get increased by five years to 70, as the regulatory body the Pension Funds Regulatory and Development Authority (PFRDA) is planning to increase the number of beneficiaries under the scheme.
Previously, the PFRDA had increased the age limit from 60 to 65 some three years ago. On April 15, PFRDA Chairman Supratim Bandyopadhyay said at a virtual press conference that around 15,000 people above 60 joined NPS since the entry age limit was raised from 60 to 65 three years ago.
Updated Apr 16, 2021 | 10:50 IST
As of now, subscribers having a corpus of over Rs 2 lakh at the time of retirement or attaining the age of 60 years need to buy an annuity, offered by insurance companies, on a mandatory basis. NPS rule change (Representational image)
New Delhi: Pension fund regulator PFRDA is mulling giving to its subscribers an option of parking 40 per cent of the corpus that is mandatory to purchase an annuity at the time of retirement with a pension fund manager to get better benefits.
As of now, subscribers having a corpus of over Rs 2 lakh at the time of retirement or attaining the age of 60 years need to buy an annuity, offered by insurance companies, on a mandatory basis. They can take out the remaining 60 per cent as a lump sum.
Highlights
Exit age at 75.
For others maturity age will remain 70 years.
New Delhi: Pension Funds Regulatory and Development Authority (PFRDA) is contemplating to hike the maximum age of entry into the National Pension System (NPS) from 65 years to 70 years.
The Pension fund regulator is also mulling to allow NPS subscribers who join after the age of 60 years to continue their NPS accounts till the age of 75. However, for others, the age of maturity will remain 70 years.
PFRDA is also planning to give its subscribers an option of parking 40 per cent of the corpus that is mandatory to purchase an annuity at the time of retirement with a pension fund manager to get better benefits.