The EPFO (or Employees' Provident Fund Organisation) has launched an excel-based calculator for eligible EPFO employees to calculate the dues that they have to contribute/pay to receive higher pension at the time of retirement. I had written about this topic…
Category: Annuity/Pension
EPFO’s New Formula for Calculating Higher Pension on Actual Salary (Circular June 2023)
The EPFO has released a circular in June 2023, which finally announces the new formula for computing pension on higher salary, instead of the existing statutory limits. That is, now we know what will EPFO use as pension calculation method…
Read More EPFO’s New Formula for Calculating Higher Pension on Actual Salary (Circular June 2023)
LIC Jeevan Akshay VII (No. 857) | Review + Benefits | Should you Buy (2023)?
LIC Jeevan Akshay VII (Plan 857) is an immediate annuity plan by LIC that provides annuity starting immediately to the policyholder on payment of a one-time lumpsum amount. If you want to know more about this LIC Jeevan Akshay VII…
Read More LIC Jeevan Akshay VII (No. 857) | Review + Benefits | Should you Buy (2023)?
Should I Choose EPFO’s higher EPS Pension offer & contribute Lumpsum from EPF in 2023?
Should You Choose higher EPS Pension offer by EPFO & contribute a lumpsum from EPF in 2023? The EPFO subscribers have been in a dilemma about this over the last few months. And rightly so. The impact of the decision…
Read More Should I Choose EPFO’s higher EPS Pension offer & contribute Lumpsum from EPF in 2023?
LIC New Jeevan Shanti (No. 858) | Review + Benefits (2023)
LIC New Jeevan Shanti (Plan 858) is a deferred annuity plan by LIC, where you need to pay the one-time lumpsum premium at once, but you need to pick a deferment period (up to 12 years), only after which the…
Read More LIC New Jeevan Shanti (No. 858) | Review + Benefits (2023)
LIC Saral Pension Plan (No. 862) | Review of Immediate Annuity Plan + Benefits (2023)
LIC Saral Pension Plan (Table No. 862 - 512N342V04) is a standard immediate annuity plan by LIC, where you need to pay the one-time lumpsum premium and you start getting your annuity income immediately. LIC already has an immediate annuity…
Read More LIC Saral Pension Plan (No. 862) | Review of Immediate Annuity Plan + Benefits (2023)
SBI Annuity Deposit Scheme (ADS) | Monthly Income from Single Deposit (2023)?
While those looking for post-retirement annuity (pension) income know about annuity plans offered by LIC and other pension fund managers, very few know that there are banks offering annuity deposit scheme as well. State Bank of India SBI also offers…
Read More SBI Annuity Deposit Scheme (ADS) | Monthly Income from Single Deposit (2023)?
What are Annuity Rates of LIC Jeevan Akshay VII From February-2022? | (Update 2023)
LIC Jeevan Akshay VII Plan (Table No. 857) is a popular immediate annuity plan by LIC in India that many people use for monthly pension. A lot of people look for annuity and interest rates of this policy. I recently…
Read More What are Annuity Rates of LIC Jeevan Akshay VII From February-2022? | (Update 2023)