Pension Archive

What are the Advantages of Saving into Pension?

These are two advantages of saving into Pension: 1- Tax Relief – The taxman will give following tax relief (under Sections 80C, 80CCC and 80CCD) to your pension contribution. The limit for maximum deduction (As per Section 80CCE) available under Sections 80C, 80CCC, and 80CCD (combined together) is Rs. 1,00,000/- (Rs. one lac only). 2-

What is a Pension Plan?

What is a Pension? The english dictionary defines the word pension as “a fixed amount, other than wages, paid at regular intervals to a person or to the person’s surviving dependents, especially to a person retired from work.” A pension is just one way of saving for retirement. Some people choose to invest in property,

Pension Terms You Must Know

Annuitant This is a person who receives, or is entitled to, an annuity. Annuity This is a fixed amount of money paid each year until a particular event (such as a death). It might be split into more than one payment, for example monthly payments. Annuity Rate This compares the size of an annuity (how