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Paisa Vaisa with Anupam Gupta
NPS Diwas Special: Unlock Tax Savings & Retirement Planning Tips with Sriram Iyer
Sep 30, 2024
Sriram Iyer, CEO of HDFC Pension and a specialist in retirement planning, joins to discuss the National Pension System (NPS) and its latest updates. He dives into tax benefits, dispels myths about lock-ins, and compares NPS with mutual funds. Sriram emphasizes the urgency of starting retirement planning early and the advantages of corporate adoption of NPS. He also highlights cost dynamics, flexibility, and strategic asset allocation, making a strong case for NPS as a viable option for enhancing retirement savings.
49:36
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Quick takeaways
- The National Pension System (NPS) provides significant tax benefits under both the old and new tax regimes, making it a crucial tool for financial planning.
- Starting early with NPS, particularly through the Vatsalya scheme for children's retirement savings, can lead to substantial wealth accumulation over time.
Deep dives
NPS Divas and Its Significance
NPS Divas is celebrated annually on October 1st in alignment with the International Day of Older Persons. This initiative aims to raise awareness about the National Pension System (NPS), which plays a crucial role in helping individuals build a retirement corpus for a dignified post-retirement life. The growing demographic of older individuals in India highlights the necessity of proactive financial planning for retirement. With over 7% of India’s population currently above 65 years, anticipated to double in the next 25 years, emphasizing retirement solutions like NPS is becoming increasingly urgent.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode