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National Pension System: Currently, there are ten pension fund managers in the country, comprising seven private companies and three government-owned entities
Discover the huge potential of Corporate NPS in the MSME sector in Varanasi. National Pension scheme (NPS) is a worthy alternative for those working in the unorganized sector, with no formal pension arrangements and doing retirement planning on their own.
Budget News: Tax experts suggest making annuity income from the National Pension System (NPS) tax-free to provide financial security to senior citizens and align with fairness and social welfare principles. Addressing the existing taxation on income from EPF and NPS, the proposal is to remove NPS contributions from the cap or increase the limit. The taxation of annuity income in the NPS affects its wider acceptance, but making annuities tax-free could impact government finances.
Given the importance of creating a social security net for Indians, push to NPS in the form of tax benefits is essential, says Sumit Shukla, MD and CEO, Axis Pension Fund