RETIREMENT PLANNING

Retirement Benefits Retirement benefits are a type of employee benefit that provide financial assistance to employees during their retirement. They are typically paid out in a lump sum or as a series of monthly payments. Types of Retirement Benefits: Defined benefit plans: Employers contribute to a separate fund that is used to provide retirement benefits […]

Portable Benefits: Sharing Your Coverage on the Go Several portable benefits options exist in the US, allowing individuals to share their health insurance coverage with family members or dependents while traveling. These benefits extend coverage to a wider range of individuals compared to primary care physician (PCP) coverage in many countries. Here are some of […]

EPF Withdrawal Rules: The Employees Provident Fund (EPF) scheme allows employees to withdraw their contributions and interest earned under the scheme in certain circumstances. Here are the key rules governing EPF withdrawal: Types of Withdrawals: Normal Withdrawal: This is the most common type of withdrawal, available to members who have accumulated a sufficient corpus in […]

Definition: An annuity is a series of regular payments made over a specified number of years or until a certain event occurs. It is a type of investment that provides a steady stream of income in retirement or other later life needs. Types of Annuities: Ordinary annuity: Pays a fixed sum of money at the […]

Qualifying Investment A qualifying investment is an investment that meets certain criteria established by a tax law or regulation to be eligible for certain tax benefits or incentives. The specific qualifications vary depending on the jurisdiction and the applicable law, but some common factors include: Asset Type:– The investment must be in a specific asset […]

Definition: Overwithholding is the act of withholding information, resources, or payments to someone who is entitled to them. It can be done intentionally or unintentionally. Reasons for Overwithholding: Self-preservation: To protect oneself from potential harm or embarrassment. Control: To exert power over someone. Financial gain: To gain financial advantage by depriving others of their resources. […]

Post-Retirement Risk Post-retirement risk refers to the challenges and uncertainties faced by individuals after they stop working. These risks include: Financial Risks: Outliving savings: The risk of exhausting financial savings and having inadequate income to cover living expenses in retirement. Inflation: Rising inflation can erode the purchasing power of savings and pensions. Healthcare costs: Healthcare […]

TSP Thrift Savings Plan The Thrift Savings Plan (TSP) is a retirement savings plan offered by the United States government to its civilian employees. It is a tax-deferred savings plan, which means that you don’t have to pay taxes on your contributions or withdrawals until you retire. Eligibility: All federal civilian employees Many state, local, […]

The National Pension Scheme (NPS) is a voluntary defined-contribution retirement savings scheme launched by the Indian government in 2008. It is open to all Indian citizens between the ages of 18 and 60. Key features of NPS: Defined contribution: Unlike a defined benefit plan, where the employer contributes a fixed sum towards retirement, NPS is […]