The Pension Fund Regulatory and Development Authority (PFRDA) seeks deeper penetration of the National Pension System (NPS) and will leverage mutual fund distributors’ relationships with their clients and experience of operating the BSE StAR MF platform to speed up NPS Expansion
The government plans to engage senior citizens as mentors in Industrial Training Institutes (ITIs), leveraging their experience to guide youth. The government prepared a 23-point action plan, which includes directives regarding different sectors, including agriculture, technology, pharmaceuticals, governance, among others
Pandey highlighted that the success of the mutual fund industry cannot be measured by AuM growth alone and stated that investor outcomes are Sebi’s new focus
Ravindran highlighted a limitation in the current retirement framework and mentioned that while the Employees Provident Fund (EPF) is a reliable savings instrument, its pension component leaves a gap for private sector workers earning above the statutory threshold
Amit Kukreja highlights early retirement planning, financial discipline and compounding to achieve financial independence and build a stronger retirement corpus
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Following its highly anticipated market debut, shares of MV Electrosystems will now trade alongside several established peers in the competitive Indian electrical and railway equipment sector.
Calculate & Plan your future with ICICI Prudential Life's retirement calculator
A tiny shortfall on a credit card bill can raise a bigger question: when does a few paise become an unpaid amount under RBI rules?
A salary hike can quickly disappear into new expenses. CA Nitin Kaushik explains what to consider before spending the extra income
A Delhi homebuyer got relief after the ITAT found that the tax department had not sufficiently established the authenticity and chain of custody of digital evidence
India is in the midst of a major flux, and faces challenges at two opposite ends of the generation spectrum. The first is shrinking job opportunities for the youth and the second is the estimated boom in senior citizen population
Health insurance is the first defence against medical expenses in old age. Though high premiums and exclusions are a challenge for seniors, opting for certain combinations and making small adjustments can sweeten the deal. But never trade off comprehensive coverage for lower premiums
In India, most senior citizens are dependent on their family or other for maintenance as the large part of the population does not access any form of pension (see High Dependency Among Seniors). At the same time, many of them suffer from chronic diseases, whose treatment can be costly and unaffordable for the dependent segment (see Threat Of Chronic Diseases). Lack of health insurance and non-hospitalisation expenses (which are, typically not covered by standard health policies) are resulting in high out-of-pocket expenditure and contributing to high indebtedness (see Lack Of Cover Leads To Indebtedness).
The Ayushman Bharat Yojana provides a cover of Rs 5 lakh to those above 70 years, irrespective of their health condition and socio-economic background, but that solves only part of the affordability problem
Vibha Padalkar, MD and CEO of HDFC Life Insurance, talks about why insurance penetration is still low in India, why seniors end up buying the wrong insurance product, the innovations we can expect in the future and how frequent regulatory changes can deter the flow of foreign money in the industry. Edited excerpts from an interview with Nidhi Sinha, Editor, Outlook Money
PFRDA and Outlook Money, through their collaborative initiative Retire Smart: Financial Wellness Leadership Series, held a discussion in Gurugram with industry experts and HR managers to spread awareness about corporate NPS and highlight the significant adoption among employers in Gurugram
