Today, India has launched its new pension scheme for government sector, private sector and self-employed people. Any one can take the benefits of the pension scheme with just Rs.500/- a month. Half the amount collected by this will be invested in stock market. Which means 50% of your money will be invested in share market and will be regulated by Pension Fund Regulatory and Development Authority (PFRDA).
The PFRDA has appointed six fund managers - subsidiaries of Reliance Capital, UTI, State Bank of India, IDFC, ICICI Prudential Life Insurance and Kotak Mahindra Bank for the new scheme and these companies will manage the fund of the working people with minimum charges.
This is good news for the sector which was earlier unable to take the benefits of pension schemes, the private and unorganized sector. This s great news as far as pension is concerned but there is a catch, government will charge tax on this amount. Which means when will you go to take out your money, you'll be charged a tax on it.
This will benefit the companies and country as well because this is huge amount which remains idle in banks and produce no big buck for anyone and if half of this will reach in the market, it definitely will boost the economy and will help the companies. Also investors, who are pensioner, also get some money out of their investment. This is the time when you can’t afford your money to be idle at all. Each one of us needs much money especially when we talk about life after retirement. Presently the amount which is available with government produce just an interest of 7-8% and sometime 8.5% which is insufficient as I believe and don’t ad so much in our capital.
Hope these fund management companies will work for the benefit of pensioner and give good results and good return on the investment. This is going to be a great step.
business and economy, Business and Entrepreneurs, financial services, India, investment, pension, Reliance Capital, State Bank of India, stock market
The PFRDA has appointed six fund managers - subsidiaries of Reliance Capital, UTI, State Bank of India, IDFC, ICICI Prudential Life Insurance and Kotak Mahindra Bank for the new scheme and these companies will manage the fund of the working people with minimum charges.
This is good news for the sector which was earlier unable to take the benefits of pension schemes, the private and unorganized sector. This s great news as far as pension is concerned but there is a catch, government will charge tax on this amount. Which means when will you go to take out your money, you'll be charged a tax on it.
This will benefit the companies and country as well because this is huge amount which remains idle in banks and produce no big buck for anyone and if half of this will reach in the market, it definitely will boost the economy and will help the companies. Also investors, who are pensioner, also get some money out of their investment. This is the time when you can’t afford your money to be idle at all. Each one of us needs much money especially when we talk about life after retirement. Presently the amount which is available with government produce just an interest of 7-8% and sometime 8.5% which is insufficient as I believe and don’t ad so much in our capital.
Hope these fund management companies will work for the benefit of pensioner and give good results and good return on the investment. This is going to be a great step.
business and economy, Business and Entrepreneurs, financial services, India, investment, pension, Reliance Capital, State Bank of India, stock market
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