1 / 10

Private Pension Plan for Company Employees in 2023

A few years ago, people used to say that the u2018only government job is a secure job where you get benefits even after retirement. It become a joke nowadays. If a person wants smooth retirement planning, he can easily do so by investing some amount regularly in a private pension plan.<br>Starting saving in younger years, individuals can spread their savings over an extended period. Moreover, they can decide when they break from their financial responsibilities and enjoy their retirement life hassle-free.<br>Read More: https://www.pockethrms.com/blog/private-pension-plan/

aarya_chalke
Download Presentation

Private Pension Plan for Company Employees in 2023

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Private Pension Plan for Company Employees in 2023 Building Financial Security for a Hassle-Free Retirement

  2. Introduction • A shift in the perception of job security: government jobs vs private pension plans • Benefits of starting early for retirement planning • Smooth retirement planning with private pension plans Photo by Pexels

  3. What is a Private Pension Plan? • A retirement savings arrangement individuals set up independently • Supplements retirement income • Interest rates, investment tenure, withdrawal limits, etc. vary across organizations Photo by Pexels

  4. Private Pension Plan under the National Pension System (NPS) • NPS offers pensions for private and public sector employees • Platform for long-term monthly savings and investment growth • Regulated by the Pension Fund Regulatory and Development Authority (PFRDA) Photo by Pexels

  5. Tier - 1 Account • Primary and mandatory account for private and public sector employees • Minimum contribution of 500 to 1000, no maximum limit • Partial withdrawal allowed under certain circumstances Photo by Pexels

  6. Tier - 2 Account • Optional account for flexibility in withdrawals • Contributions and withdrawals treated like a regular investment account • Lower minimum contribution requirement compared to Tier - 1 account Photo by Pexels

  7. Benefits of Private Pension Plans for Private Sector Employees • Lifetime security and continuous income • Tax savings under section 80C of the Income Tax Act • Risk mitigation and stable source of income • Opportunity for early retirement planning • Affordable premiums and flexible payment terms Photo by Pexels

  8. How Does a Private Pension Plan Work? - Stage 1 • Regular contributions during working years • Importance of consistent saving for retirement Photo by Pexels

  9. How Does a Private Pension Plan Work? - Stage 2 • Interest amounts and returns increase an employee's fund • Compound interest and long-term growth Photo by Pexels

  10. How Does a Private Pension Plan Work? - Stage 3 • Long-term investment for future financial security • Importance of disciplined savings and strategic planning For more information: https://www.pockethrms.com/blog/private-pension-plan/ Photo by Pexels

More Related