Tag: saving

Does NPS help in saving tax?

Retirement is the golden period of your life. However, you can enjoy your retired life only if you have a strong retirement nest egg that can fund your expenses during the non-working years. It is advisable to invest in low-risk options, like the National Pension Scheme (NPS), to create a hefty retirement corpus to help maintain your standard of living in the later years of life. Ever since NPS was opened for the public in 2009, it has become a reliable option for retirement savings in India. Apart from being a low-risk investment, NPS is also a low-cost scheme that comes with significant tax advantages. 

Here is everything about NPS and how does it help save you tax:

What is NPS?

Initially launched by the government in 2004 for government employees, the NPS was opened to the public for retirement savings in 2009. Typically, NPS is a voluntary savings plan …