Page 5 - Retirement

Corpus of Rs 65,00,000 ideal for retirement: ICICI Prudential survey

According to the findings of the study, a majority of people want to invest in annuity products as part of their retirement planning

China loses more than 40 mn workers in three years as population ages

The data reflects a rapid rise in the number of people retiring, likely raising pressure on Beijing to accelerate unpopular plans to raise official retirement ages

Combine retirement planning with tax saving via NPS, say experts

With premature withdrawal being difficult, opt for it if you won't need the money till retirement

Saving for retirement? You need at least $3 million, says study

Most respondents are optimistic they'll move closer to their retirement goal by ending 2023 with a balance of retirement savings higher than it was at the end of 2022

Visa CFO Vasant Prabhu set to retire after firm gets new leadership

Prabhu has been Visa's CFO since 2015. He oversaw its finances at a time when profits soared, the firm added hundreds of millions of cardholders

Retired couples can earn Rs 8,00,000 from select govt investment schemes

Equities, debt MFs and annuities should also be part of portfolio

Avoid encashing of leave while you are in service: Know the rules

Tax exemption on leave encashment is only available at retirement, resignation, or termination

Australia's Aaron Finch announces retirement from international cricket

Finch led Australia in a world record 76 men's T20Is, as well as in 55 ODIs, before announcing his retirement

Old vs New: No early retirement for debate on pension as elections loom

The economics and politics behind the old versus new pension scheme as elections loom

EPFO wage ceiling likely to be raised from Rs 15,000 per month to Rs 21,000

The ceiling was last revised in 2014 from Rs 6,500 per month to Rs 15,000 and is applicable only to enterprises that have more than 20 workers

'I feel a bit empty': Sebastian Vettel after final F1 race of his career

Numerous events were held to commemorate Vettel's final race, including a track run on Saturday night that the four-time world champion organised for spectators of all skill levels.

EPFO set to hire 35 legal experts to deal with litigation: Report

It would be the first such hiring by the statutory body, which functions under the Ministry of Labour & Employment

Former AIIMS director Randeep Guleria takes voluntary retirement

Former AIIMS director Dr Randeep Guleria has taken voluntary retirement after serving at the premier institute for more than 30 years. His five-and-a-half-year tenure as director of the institute ended on September 23 after which he had applied for VRS, which has been approved. Guleria was supposed to superannuate in April 2024. Guleria was one of the key persons leading the government's response during the peak of the COVID-19 pandemic and played a major role in creating awareness about various aspects related to the pandemic. He joined AIIMS as assistant professor in the Department of Medicine in 1992 and then formed the Department of Pulmonary, Critical Care and Sleep Medicine in 2011. He headed the department before taking over as AIIMS director for a five-year term on March 28, 2017. His tenure, which was to end on March 24, was extended by three months. Upon its completion, his term was extended by another three months.

India's pension system shows marginal improvement in global ranking: Report

India's retirement system has improved marginally from 2021 to rank at 41 out of the 44 countries examined, according to a report. According to the survey, India had an overall index value of 44.4, up from 43.3 in 2021, ranking 41 out of the 44 retirement income systems analysed. The improvement was primarily due to an increase in its net replacement rates, according to the 2022 Mercer CFA Institute Global Pension Index survey (MCGPI). The MCGPI is a comprehensive study of 44 global pension systems, accounting for 65 per cent of the world's population. It benchmarks retirement income systems around the world, highlighting some shortcomings in each system, and suggests possible areas of reform that would help provide more adequate and sustainable retirement benefits. Globally, Iceland was ranked at the top followed by the Netherlands, Denmark, Israel, Finland and Australia. Thailand ranked last at 44, while Philippines was at 43 and Argentina was at 42, according to MCGPI. This y

EPFO adds 1.8 mn subscribers in July, posts 24% YoY rise, shows data

Retirement fund body EPFO added 18.23 lakh new subscribers in July 2022, registering a 24.48 per cent rise as compared to the year-ago period, according to official data. The provisional payroll data of Employees' Provident Fund Organisation (EPFO) released on Tuesday highlighted that of the total new members added in July, around 10.58 lakh members have come under the social security cover of EPFO for the first time, a labour ministry statement said. The data of new members joining EPFO has shown a growing trend since April 2022, it said. Out of 10.58 lakh new members added, approximately 57.69 per cent are in the age group of 18-25 years. This shows that first-time job seekers are joining the organised sector workforce in large numbers following their education and new jobs in the organised sector are largely going to the youth of the country. During the month, around 4.07 lakh members exited from the ambit of EPFO and 11.72 lakh members exited and rejoined EPFO. These members ha

T20 WC winner Robin Uthappa announces retirement from all forms of cricket

The right-handed batter said it has been "greatest honour" to represent India and Karnataka during this illustrious career.

Suresh Raina retires from all formats of cricket, including IPL

The 35-year-old had already ended his international cricket on August 15, 2020, hours after Mahendra Singh Dhoni decided to call it a day

Why saving enough for retirement is difficult

Longevity risk, taxes, financial repression, unexpected high inflation, career risk, and psychological factors make it very difficult to save enough for retirement

6-mth residence, 1-yr security: Govt amends rules for benefits to SC judges

Retired Chief Justice or retired judges shall be entitled to a security cover round the clock at residence in addition to round the clock personal security guard for a period of one yr from retirement

SA opener Lizelle Lee bids adieu to int'l cricket with immediate effect

South Africa opener Lizelle Lee on Friday announced her retirement from all forms of international cricket with immediate effect. Lee, 30, made her international debut in 2013 against Bangladesh