National Pension System (NPS)

  

What is NPS?

The National Pension System (NPS) is a voluntary defined contribution retirement savings scheme. The scheme enables its subscribers to make systematic savings through their working life and create a substantial corpus for their retirement. NPS as a financial instrument helps to inculcate the habit for saving towards retirement income amongst Indian citizens.

NPS was initiated by the Government of India by making it mandatory for all individuals joining Central Government services (except Armed Forces) on or after January 01, 2004. Gradually, NPS was implemented by various state governments for their employees and then NPS was extended to ‘All Citizen of India’ in May, 2009.

In NPS, the contributions made by the subscriber, are pooled in a pension fund which are invested by PFRDA regulated Pension Fund Managers as per approved guidelines. A Subscriber may invest his/ her NPS contribution in any one of the eight Pension Fund Managers (PFMs) empanelled under NPS. All empanelled PFMs under NPS are well known, have long standing credibility and are powerful brands in the financial sector. The fund is invested in a diversified portfolio comprising of Government Bonds, Corporate Debentures and shares. The contributions accumulated in the NPS account grow over a period of time, depending upon the returns on the investments done.

Any individual from 18-65 years of age can join NPS and remain invested till 70. If you are looking for long term investment and your objective is to create sufficient corpus for your post retirement days, the suggested investment option is NPS. Following are some of the few points, which make investing in NPS a smart choice, as far as retirement income is concerned:

1. Customized investment option:

NPS allows you to choose from any one of the Pension Fund Managers (PFMs) appointed by the PFRDA (Pension Regulator) to manage your pension fund.

2. Portability:

One of the core attributes of NPS is portability of NPS account number –Permanent Retirement Account Number (PRAN) - across all sectors and geographies. This implies that you can shift your PRAN from one employer to another and can also continue self-contribution during the period when one is not actively engaged with any employer.

3. Low cost structure:

The account maintenance costs under NPS are the lowest as compared to similar pension products available in India including the retirement plans offered by Insurance companies and mutual funds. While saving for a long-term goal such as retirement, the cost matters a lot. Over a period of 35 to 40 years, the charges can shave off a significant amount from the corpus. The pension wealth accumulation grows over a period of time with a compounding effect. The overall administrative charges being low, the benefit of accumulated pension wealth to the subscriber eventually become large.

4. Unique Tax Benefit:

Any individual who is subscriber of NPS can claim tax deduction up to 10% of gross income under Sec 80 CCD (1) with in the overall ceiling of Rs. 1.5 lac under Sec 80 CCE. Apart from that an additional deduction for the investment up to Rs. 50,000 in NPS (Tier I account) has been exclusively available for NPS under subsection 80CCD (1B). This is over and above the deduction of Rs. 1.5 lakh available under sec 80C of Income Tax Act. 1961.

The aforesaid points distinctly made NPS an exceptional avenue of saving for retirement. NPS provides a unique user experience during this long period - whether it is related to subscriber servicing at various stages of life, demographic details updation, ease of access or any kind of service requests being made in the System. Through the Protean

website one can easily open an NPS account as well as track their investments in this scheme. The company provides a range of services to NPS subscribers such as account management and opening, fund processing, customer service and providing easy pay-out solutions.

Jeevan ki Sachai - Hard truths of life

  

What are hard truths of life

1. Nobody can love you exactly like your mother.

2. A poor person has no friends.

3. People do not like good thoughts. They like good looks.

4. People respect the money; not the person.

5. The person you love the most, will hurt you the most.

6. Truth is simple, but the moment you try to explain it, it becomes difficult.

7. When you are happy, you enjoy the music, but when you are sad, you enjoy the lyrics.

8. Two things define you in life—Your patience when you have nothing, and your attitude when you have everything.

9. People will not remember you for all the good things you’ve done, but they surely won’t forget the few bad things you’ve done.

1. People often ask you what you do for a living so that they can estimate the level of respect to give you.

2. People enjoy to watch you suffer because they enjoy seeing your miseries so that they can feel better about themselves.

3. You can love people, but don’t expect them to love you back. Love can’t be forced.

4. Although you cannot change the world, the world can listen to your crazy jokes.

5. You only get stronger by doing hard things.

SUCCESS DEMANDS THESE 6 THINGS

  

SUCCESS DEMANDS THESE 6 THINGS

1. Hard Work

Don't believe in luck, believe in hard work. Stop trying to rush the process or searching for a shortcut. There is none.

2. Patience

If you are losing patience, you are losing the battle. First nothing happens, then it happens slowly and suddenly all at once. Most people gave up at stage one.

3. Sacrifice

you don't sacrifice for what you want, then what you want becomes the sacrifice. Everything has its price. The question is: Are you ready to pay it for the life you desire?

4. Consistency

Consistency is what transforms average into excellence. Without consistency, you will never achieve greater success.

5. Discipline

Motivation gets you going, but discipline keeps you growing. There will be days when you don't "feel" like doing it. You have to push through those days regardless of how you feel.

6. Self Confidence

Confidence is, I'll be fine if they don't like me. There will always be someone judging you for who you are and what you want from life.

Simple Unspoken Rules for Men:

  

Simple Unspoken Rules for Men:

1. Don't make the first offer in a negotiation.

2. Never make the first offer in a negotiation.

3. Dress well no matter the occasion.

4. No one will come to save you. Your life is 100% responsibility.

5. Your inner circle MUST be focused on Money, Success and starting a family.

6. The family you create is more important than the family you come from.

7. Don't take everything too personally.

8. You're a reflection of the 5 people you spend the most time with.

9. Stay silent. Not everything needs to be said.

10. If you are not invited don't go.

11. Protect who's behind you and respect who is beside you.

12. Don't beg for a relationship.

13. Never pose with alcohol.

14. Be honest.

15. If you work on yourself you don't struggle.