Nps Contribution News Today

To maximise your tax savings, make the most of deductions available under Section 80C for investments, 80D for health insurance premiums, Section 24 for home loan interest, and Section 80CCD for NPS contributions.

Retirement planning: NPS has emerged as one of the most popular tools for retirement planning and investment. Your returns from NPS will decide how much corpus you can accumulate. Let us say you have just turned 40. You have 20 years to accumulate a lump sum in NPS. If you want to earn a Rs 2 lakh pension per month from your NPS investment, here is how much contribution you must make now.

The choice of pension fund managers has also broadened. Now, there are 10 pension fund managers to choose from. NPS investors are also allowed to switch their pension fund once in a year. From this year onwards, the PFRDA has allowed investors to spread their investments across three different pension fund managers. ET Wealth identifies the best performing NPS funds to help investors decide which pension fund manager they should go with.

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Higher EPFO pension: Earlier this year, EPFO allowed its subscribers to opt for a higher pension amount by increasing their contribution towards the EPS. As per the new rules, subscribers can contribute 8.33 per cent of their actual basic pay towards the EPS to earn a higher EPFO pension.

Higher EPFO Pension: The deadline to apply for a higher pension under the Employees Pension Scheme is May 3, 2023, and there are speculations about whether the date will be extended. If the date is not extended, applicants can knock on the courts door on grounds of portal bugs or pending clarifications to seek an extension., Personal Finance News, Times Now

Higher pension deadline: Even if the date is not extended, experts say applicants may approach the Court for an extension on grounds of portal bugs, pending clarifications etc.

The Pension Fund Regulatory and Development Authority (PFRDA) has issued a circular mandating NPS subscribers to upload certain documents to ensure timely annuity income payments

National Pension System (NPS) can help beat inflation and ensure retirement security.

PFRDA and IRDA recently changed a number of NPS regulations.