BQ Big Decisions: Which Government Retirement Scheme Is The Best?
Should you invest in the NPS and PPF, or stick to the EPF? Confused? You’ll find the answers here...
The BQ Big Decisions podcast gets you the insight you need to make big money decisions with confidence.
Financial advisers recommend to start saving early for retirement. But that’s not as simple as it seems. And especially, when you’re living paycheck to paycheck, you don’t often think of setting aside even a little of your hard earned money for something as far away as retirement.
The good news, however, is that you don’t actually have to go out of your way. In fact, if you’re a salaried employee, 12 percent of your basic salary automatically goes as a contribution to the Employees’ Provident Fund every month. That’s also matched by your employer.
Besides, there are a couple of more government schemes that can help you save for your retirement. You can even supplement your government schemes with equity-focused mutual fund schemes or go the whole hog and allocate a lion’s share of your savings towards direct equity and equity-linked schemes.
On this BQ Big Decisions podcast, BloombergQuint spoke to Amol Joshi, founder of PlanRupee Investments, to find out which are the best government retirement schemes.
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