Legislative framework of Retirement

benefits in India : An Analysis

Submitted to: Ms. Lovepreet Kaur
Submitted By: Shubham Tanwar
Rollno: 18020
Group No: 3
 INDIA & RETIREMENT PLANNING

 The main objective of retirement planning is to create a well

funded and safe future for the client.
 Financial needs of the client needs to be clubbed between his/her
current income and post retirement expenditure
 Career Stability
 Job Satisfaction
 Steps For Retirement Plan
 Inauguration Of Retirement Plan: Inauguration of retirement plan
would depend on life expectancy. If the client starts accumulating funds
for his/her retirement early, with small savings & less burden he will be
able to achieve the goal.
  Tax Planning With Retirement Planning.
 Major expenses of the retirement years are the health care costs, health
insurance can act as a helping hand in that case to meet up these costs.
 Proper management of savings and investment results to tax benefits
and these become very important at the time of retirement.
National Pension System
 The National Pension System (NPS) is a voluntary defined contribution
pension system India.
 NPS started with the decision of the Government of India to stop defined
benefit pensions for all its employees who joined after 1 January 2004.
 While the scheme was initially designed for government employees only, it
was opened up for all citizens of India between the age of 18 and 60 in 2009.
 On 10 December 2018, Government of India made NPS an entirely tax-free
instrument in India where entire corpus escapes tax at maturity, the 40%
annuity also became tax-free. 
 The changes in NPS will be notified through changes in The income tax 1961,
, which is expected to happen through the Finance Bill in 2019 Union budget
of India.
 CASE LAWS
 Col. (Retd.) B.J. Akkara vs The Govt. Of India & Ors.
 K.L.Francis vs The Kerala State Road Transport
 V. Kasturi vs Managing Director, State Bank of India
THANK YOU