SBI Retirement Benefit Fund NFO: A new ‘nest egg’ offering
Satya Sontanam
BL Research Bureau |
Updated on
January 23, 2021
Investors can choose asset allocation plans based on their risk profile Retirement planning is one of the key parts of managing one’s personal finance. In India, the National Pension System (NPS), a voluntary contribution scheme, offers market-linked returns and aims to provide for monthly pension after retirement.
NPS has a lock-in of up to the age of 60. Further, upon attaining the age of 60, at least 40 per cent of the proceeds needs to be utilised for the purchase of an annuity product and the balance is paid as lump sum to the subscriber.