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India Post news: Receive a monthly pension up to Rs 3300 by investing in THIS scheme

India Post news: Receive a monthly pension up to Rs 3300 by investing in THIS scheme
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Small savings may be rewarding

Small savings may be rewarding Updated: Updated: May 23, 2021 21:42 IST With the possibility of a downward revision in rates looming, it’s time to consider your options here Share Article AAA With the possibility of a downward revision in rates looming, it’s time to consider your options here We are all aware of the flurry of activity that happened at the start of the current financial year: interest rates on Small Savings Schemes, of which the Post Office Schemes are a part, were reduced drastically through a government notification, on March 31. The very next day, the order was withdrawn and the erstwhile rates were maintained.

A reprieve, for now - The Hindu BusinessLine

A reprieve, for now Senior citizens can heave a sigh of relief on small savings rates We’ll never know whether the Finance Ministry’s rapid U-turn on the rate reset for small savings schemes was someone’s idea of an April Fool prank or a rethink triggered by, ahem, political considerations. Whatever the reason, small savers can heave a sigh of relief that they’ve won a reprieve from the 50 to 110 basis point cuts, for now. Had they gone through, retirees would have had to take a 13 per cent haircut on their interest income from the Senior Citizens Savings Scheme, others a 14 per cent dent on the Monthly Income Scheme and 1-year depositors a 20 per cent hit to their interest receipts.

Retirement planning: How to calculate retirement corpus

Retirement planning: How to calculate retirement corpus SECTIONS Share Synopsis The sooner you want to retire, the longer will be your post retirement life. As a result, on one hand, you will have to arrange a bigger retirement corpus for a longer retired life, and on the other hand you will have lesser time to save the required amount. Getty Images Saving for retirement is possibly one of the most important financial goals. This is because accumulating an adequate corpus will help one live a financially comfortable life post retirement. And knowing how much to save, will help during the pre-retirement phase, i.e., the accumulation stage. So, how does one decide how much to save for retirement?

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