In a circular issued today, Dec. 19th, the EPFO allowed members who have not been employed for at least one month to withdraw up to 75% of their provident corpus. The EPFO circular clearly states that after two months of continuous unemployment 100% of the corpus can be withdrawn. There has been some confusion in this […]
Category: Retirement
My father will be retiring with 40 lakhs how should he invest?
More and more young earners are asking questions such as “My father will be retiring with 40 lakhs how should he invest?” Let us discuss strategies of retirement planning for senior citizens. Here is how your parents can invest their nest egg after retirement. As an example, I consider a question asked by a reader […]
Should I Make More Money or Spend Less?
If you had to choose between making more money and spending less, what would you choose? “Wait a minute, why should I choose?”, you ask? Good question! Let us find out if you have to make that choice (or do both) ! Now, I hate thumb rules because most of the popular ones are flawed […]
Higher EPS Pension: Can EPFO pay Higher Pensions or will it go bust?
Almost every EPF member who was part of the EPFO before Sep 1st 2014 has one or all these questions on their minds: Will I get higher EPS pension? Am I eligible for it if I am already retired? How much will my EPS pension increase? I can answer, the “am I eligible” question accurately (see […]
Revised EPS Pension Calculator: How much will my EPS Pension increase?
Find out how much your EPS pension will increase with this Excel calculator if you contribute 8.33% of your full salary (basic +DA) instead of Rs. 1250 per month which is 8.33% of Rs. 15,000 the current salary ceiling mandated by the EPFO. Last week, a 1200% hike in pension for Mr. Praveen Kohli following an October […]
Do not increase EPS Contributions for higher Pension! It may mess up your retirement!
The employee pension scheme (EPS) is a component of the employee provident fund that provides a pension to its subscribers. Yesterday, news about how Mr. Praveen Kohli got a 1200% hike in pension created a stir. This was because, in October 2016, the Supreme Court directed the EPFO to increase the pension of 12 petitioners as […]
Can I Retire With Rs. One Crore Today?
Suppose we have Rs. one Crore with us today, can we retire with it? In this sneak preview of the freefincal Robo advisory template* let us punch some numbers in it and check what good is Rs. 1 Crore. The template is free and open-source and will be released soon. It is currently being beta-tested […]
