Junior Associate of Indian Institute of Bankers (JAIIB) Exam is a study of Finance as a subject for students who are seeking to take on Banking as their profession. ‘Indian Economy (IE) and Indian Finance System (IFS)’ is the primary subject of the JAIIB Exam. The National Pension System (NPS) is the main part of the IE & IFS module. This is a voluntary, government-backed retirement savings scheme in India that aims to offer financial security to individuals post-retirement. Launched in 2004 for government employees and later extended to all citizens in 2009, NPS encourages individuals to invest regularly during their working years and accumulate a pension corpus that will help them maintain financial stability after retirement. This article by Learning sessions presents a case study on the NPS scheme, discussing its structure and benefits on individuals and the broader financial system.
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DOWNLOAD PDF NATIONAL PENSION SYSTEM (NPS) SCHEME -CASE STUDY
The NPS scheme is planned to provide a legitimate pension solution to all Indian citizens. It operates on a defined contribution model, where individuals invest in a pension fund during their working life, and the collection grows based on the market performance of the underlying assets. Important characteristics of NPS schemes are:
-Eligibility
-Tier Structure
-Investment Flexibility
-Tax Benefits
-Partial Withdrawal and Exit Options
For the extensive preparation of candidates, get details through our YouTube videos for JAIIB IE & IFS Module wise Syllabus with explanations and tips to help candidates in their preparation journey.
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To summarize, The National Pension System (NPS) has transpired as a powerful and methodical retirement savings instrument in the Indian economy and Indian financial system. It provides individuals with flexibility, tax benefits, and market-linked returns while making certain that the government’s pension liabilities are kept in check. For JAIIB applicants, understanding the NPS scheme is significant, as it symbolizes how inventive financial instruments can promote long-term savings, enhance financial security, and contribute to national economic stability. Learning Sessions provides additional information about JAIIB IE & IFS FISCAL POLICY by giving examples of real life scenarios.
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