ICICI Prudential Pension Funds Management Company Limited’s Post

You can't buy health but you can definitely invest in it! This World Health Day, ICICI Pru PFM reminds you that investing in your health is an investment made for your future. Make healthy choices with ICICI Prudential PFM today! Visit https://lnkd.in/g2BRmpmH to know more. National Pension System Trust Protean eGov Technologies KFin Technologies Ltd. CAMSfinserv PFRDA (Pension Fund Regulatory and Development Authority) #TomorrowsFreedomStartsToday #NPSZaruriHai #TaxSavings #HowToInvest #InvestmentAdvice #FuturePlanning #RetirementGoals #Pension

*Here are some important financial changes that will come into effect in April 2024:* SBI Card announced that accrual of reward points on rent payment transactions will be discontinued for certain credit cards. New NPS Rule Pension Fund Regulatory and Development Authority (PFRDA) improved security of National Pension System (NPS). As per the change, a new security layer has been introduced which includes a two-factor Aadhaar-authentication. This will become mandatory for all users logging into the CRA system. SBI Credit card changes SBI Card announced that accrual of reward points on rent payment transactions will be discontinued for certain credit cards. This will be done from April 1, 2024 and includes credit cards like AURUM, SBI Card Elite, SBI Card Elite Advantage, SBI Card Pulse and SimplyCLICK SBI Card. YES Bank credit card changes YES Bank credit card holders who spend ₹10,000 or more in a calendar quarter will become eligible for complimentary domestic lounge access from April 1. ICICI Bank credit card changes ICICI Bank website notes this change from April 1, “You can enjoy One complimentary airport lounge access by spending Rs. 35,000 in the preceding calendar quarter. Spends made in the preceding calendar quarter will unlock access for the subsequent calendar quarter. To be eligible for complimentary lounge access in Apr-May-Jun, 2024 quarter, you need to spend a minimum of Rs.35,000 in the January-February-March 2024 quarter and similarly for following quarters.” Ola money wallet OLA Money announced that its will switch to small PPI (prepaid payment instrument) wallet services. This will have a maximum wallet load restriction of ₹10,000 per month from April 1. #update #lavprajapati #lav #financialupdate #yourself #basic #knowlege

💡 Building Confidence in Investing: Start with the Basics! 💡 Investing in shares is exciting, but you’ll feel more confident if you prepare properly. Here’s how to set yourself up for success: 1️⃣ Build an Emergency Fund: Before investing, make sure you have an emergency fund. This fund should cover 3-12 months of your expenses, depending on your situation. If you have family or debts, aim for the higher end. If you have fewer responsibilities, a smaller fund might be enough. Check and adjust your fund as your life changes, like after getting married or taking on new expenses. 2️⃣ Get Health Insurance: Having health insurance is important. It protects you from unexpected medical costs so you can invest without worrying about health expenses. Choose a plan that fits your needs and budget. I recommend looking into HDFC Family Optima Secure or Care Supreme. If you can afford it, HDFC might be best; if you want lower premiums and don’t mind more paperwork, try Care Supreme. 3️⃣ Get Term Insurance: Term insurance makes sure your loved ones are financially secure if something happens to you. It might be a tough topic, but it’s important if you have people depending on you. HDFC Life is a good option, but choose the coverage amount that works for you. With these basics in place, you’ll have a solid foundation for investing. You can focus on your investment strategy with peace of mind, knowing you’re prepared for unexpected events. Investing is a long-term game, so stick with it and let time work in your favor. Whether you invest in shares or mutual funds (especially index funds), staying committed usually leads to good results. Ready to boost your financial confidence? Start with these steps and watch your investment journey thrive! 🚀📈 #Investing #FinancialSecurity #EmergencyFund #HealthInsurance #TermInsurance #InvestmentConfidence

The future is yours to invest in and it all begins with a choice. With ICICI Pru PFM you can select your preferred NPS investment style - auto or active-choice and navigate your financial journey wisely!  Visit https://lnkd.in/g2BRmpmH to know more. National Pension System Trust Protean eGov Technologies KFin Technologies Ltd. CAMSfinserv PFRDA (Pension Fund Regulatory and Development Authority) #TomorrowsFreedomStartsToday #NPSZaruriHai #TaxSavings #HowToInvest #InvestmentAdvice #FuturePlanning #RetirementGoals #Pension

𝐋𝐞𝐭’𝐬 𝐩𝐫𝐢𝐨𝐫𝐢𝐭𝐢𝐳𝐞 𝐥𝐨𝐧𝐠-𝐭𝐞𝐫𝐦 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐡𝐞𝐚𝐥𝐭𝐡 𝐨𝐯𝐞𝐫 𝐬𝐡𝐨𝐫𝐭-𝐭𝐞𝐫𝐦 𝐭𝐚𝐱 𝐛𝐞𝐧𝐞𝐟𝐢𝐭𝐬 Since the New Tax Regime has been announced to be the default scheme, all our clients are asking us whether they should make any investments in tax-saving instruments like ELSS Mutual Funds, medical insurance policies, term plans, and pension plans. While the new regime offers simplicity, it's important to remember that these investments serve a much larger purpose beyond just tax benefits. 𝐈𝐧𝐯𝐞𝐬𝐭𝐢𝐧𝐠 𝐢𝐧 𝐘𝐨𝐮𝐫 𝐇𝐞𝐚𝐥𝐭𝐡 𝐚𝐧𝐝 𝐅𝐮𝐭𝐮𝐫𝐞 Medical insurance isn't just a tax-saving tool; it's a safeguard for your health and financial stability. Medical emergencies can arise unexpectedly, and having adequate insurance ensures you are protected without compromising your savings. Similarly, term plans provide crucial life coverage, offering your family financial security in your absence. 𝐒𝐞𝐜𝐮𝐫𝐢𝐧𝐠 𝐘𝐨𝐮𝐫 𝐑𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭 Pension plans are essential for ensuring a comfortable retirement. By investing in a pension plan, you are building a financial cushion that will support you in your golden years, allowing you to maintain your lifestyle and independence. 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠 𝐚𝐧𝐝 𝐃𝐢𝐬𝐜𝐢𝐩𝐥𝐢𝐧𝐞 Regular investments in ELSS Mutual Funds and other such instruments foster financial discipline. 𝐓𝐞𝐫𝐦𝐬 𝐩𝐥𝐚𝐧𝐬, 𝐚 𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐟𝐨𝐫 𝐲𝐨𝐮𝐫 𝐟𝐚𝐦𝐢𝐥𝐲: Ensure your family's future with a reliable term plan – affordable protection and peace of mind. Secure today, safeguard tomorrow. 𝐁𝐞𝐲𝐨𝐧𝐝 𝐭𝐡𝐞 𝐍𝐮𝐦𝐛𝐞𝐫𝐬: 𝐓𝐡𝐞 𝐓𝐫𝐮𝐞 𝐕𝐚𝐥𝐮𝐞 Tax benefits are indeed an attractive bonus, but they should not be the primary reason for these investments. The true value lies in the security, peace of mind, and future readiness they offer. I urge everyone to reconsider the importance of these investments. Don’t let the allure of a simplified tax regime deter you from making decisions that are fundamentally beneficial to your life and future. Invest in medical insurance, term plans, pension plans and other tax saving instruments for their intrinsic value, not just for tax savings as per your future goals. Your future self will thank you for it. What are your thoughts? LIC State Bank of India TataAia Life Insurance Starhealth Insurance Religare Policybazaar.com HDFC Life Maxlife insurance company Pvt ltd ICICI Lombard InsuranceDekho #FinancialPlanning #InvestSmart #SecureFuture #HealthInsurance #PensionPlans #TermPlans #ELSSMutualFunds #BeyondTaxSavings

NPS does not just help you save extra Rs 50,000 in taxes but also gives you great returns if invested in the right place. These 10 NPS schemes delivered impressive returns in the last year - 1. Tata-PF 39.74% 2. ICICI-PF 38.93% 3. UTI-RSL 36.89% 4. Max Life 35.95% 5. Birla-PF 35.06% 6. Kotak-PF 35.02% 7. Axis 34.06% 8. SBI PF 34.06% 9. LIC PF 33.94% 10. HDFC PF 33.93% How to invest in NPS? Read Below- Under section 80C you get a maximum deduction of Rs 150,000 this is where NPS can come to the rescue and save additional 16000 taxes by giving you a deduction amount of 50,000 ! So ideally, one can invest Rs 50,000 every year to not just save taxes but also build a retirement fund simultaneously. There are both online and offline method to invest in NPS - Offline Process To open an NPS account offline or manually, you will have to find a PoP (could be a Bank) registered with the PFRDA. Collect a subscriber form from your nearest PoP and submit it along with the KYC papers. Online Process With this, you can open an account in less than half an hour. Opening an account online (enps.nsdl.com) is easy if you link your account to you PAN, Aadhaar and mobile no. Want additional details on NPS? Comment below with your queries! Source: npstrust.org.in #nps #nationalpensionscheme #retirementplanning #retirement #retirementfund #taxplanning #taxseason #savetaxes #taxtips #financetips #finance #financegoals #investing

Ankur Warikoo highly embraces the 50-30-20 rule! 50% of your income goes to needs, 30% for wants, and 20% towards investment/savings. I don't disagree with him, but if you want to have a luxury (not decent) retirement, this won't work. I am 23 now, and I started working at 18 years of age and Investing at 20. In just 3 years of investment, I have managed to build a portfolio of 13 Lakhs (Appreciate humble beginnings) How? Simple! I focus on the 70-30 rule. If I am earning 80k a month, I invest 56k out of it, and the rest 24k is divided between rent, groceries, essentials, and wants. But, if I follow the traditional 50-30-20 rule, I would have only invested 16k. Again, this investment type requires a stubborn mindset and sacrifices. You will be considered boring for not attending parties, tagged cheap for not buying unnecessary items at malls, and labeled 'Sasta entrepreneur'. But, even if we take a round-up calculation of 40k investment per month for 10 years and assume the min. return to be 12% pa, you will be able to achieve a return of 44.9 Lakhs, cumulating to a total return of 92.9 Lakhs, incl. of the investment amount of 48 Lakhs. In the 50-30-20 principle, assuming the return to be 12%, you can achieve a total return of 37.1 Lakhs (Inv. amount - 19.2L, return - 17.9L) You can see the difference! If you have a high-risk appetite, want to retire rich, and looking for aggressive growth, don't follow the traditional path. Customize your ratio - for me it's 70/30, yours can be 60/40, 80/20, 55/45 (depending on your monthly cashflow) Here's my monthly Investment breakdown: 1. Retirement Plan (Policy - HDFC, Mediator - Policybazar) - 8000/month 2. Investment Plan (Policy - HDFC, Mediator - Policybazar) - 5000/month 3. Investment Plan (Policy - Bajaj Allianz, Mediator - Policybazar) - 8000/month 4. ULIP fund (Policy - Tata AIA, Mediator - Policybazar) - 4000/month 5. PPF (Axis Bank) - 6000/month 6. SIP (Quant Small Cup Fund, Mediator - Upstox) - 4000/month 7. SIP (Quant ELSS Tax Saver Fund) - 4000/month 8. SIP (Canara Robecco Small Cap Fund) - 4000/month 9. SIP (Axis Blue Chip Fund) - 4000/month 10. SIP (Aditya Birla Sun Life PSU Equity Fund) - 4000/month 11. SIP (Nippon India Small Cap Fund) - 4000/month Not to mention the Provident Fund of 3600 monthly, if you are a working professional like me @8.25 interest pa. There's only one golden rule - earn more, but don't upgrade your lifestyle, especially in your early 20s. Have at least 3-4 income sources. Work 18-hour shifts if you have to. Don't put all the eggs in one basket. make sure you have a diversified portfolio and invest in small-cap, mid-cap, and large-cap funds. Also, diversify between equity and debt funds, and include commodities if you want to. A big shoutout to Anushka Mithapelli for insisting me to post this! . . . . #investments #finance #personalfinance #equityfunds #debt #policybazzar #upstox #earlyinvestments #investingin20s Here's a random picture for the algo!

SBI Annual Report 2023: Key Insights The State Bank of India (SBI) has demonstrated remarkable resilience and growth during the fiscal year 2022-2023. Here are the key highlights and insights from the report: Financial Performance - **Net Interest Income (NII):** ₹1,44,841 Cr, up by 19.99% - **Profit After Tax (PAT):** ₹50,232 Cr, marking a significant increase of 58.58% - **Total Assets:** ₹55,16,979 Cr, a growth of 10.61% - **Deposits:** ₹44,23,778 Cr, up by 9.19% - **Advances:** ₹32,69,242 Cr, an increase of 15.99% - **Fee Income:** ₹26,245 Cr, growing by 6.84% Digital Transformation - **YONO Registered Users:** 6.07+ Crore - **Daily Cardless Cash Withdrawals:** 1.07 Lakh - **New Digital Savings Accounts Opened Daily:** ~23,000 Workforce and Community - **Total Employees:** 2,35,858 - **Women in the Workforce:** 26.78% - **CSR Expenditure:** ₹316.76 Cr, benefiting ~54 Lakh individuals ### Sustainability and ESG Initiatives - **Branches:** 22,405 - **Renewable Energy Portfolio:** 23,679.55 MW - **Trees Planted:** 8.34+ Lakh - **Green Building Certifications:** 32 - **EV Chargers Installed:** 46 - **Social Loan:** US$ 1 Billion landmark syndicated social loan concluded Market Leadership - **Home, Education, and Personal Loans:** SBI is the #1 provider in India. - **SME Banking:** Portfolio reached ₹3,59,270 Cr with 19 Lakh customers. - **Corporate Banking:** Total portfolio of ₹9.80 Lakh Crore, earning ₹3,953 Cr in commission. - **Government Banking:** Administered pension payments to ~43 Lakh pensioners, adding 2.54 Lakh new pension accounts. ### Strategic Focus - **Digital Transformation:** Emphasis on cutting-edge technology and new solutions for a seamless banking experience. - **Resilience:** Robust framework to withstand market fluctuations, ensuring financial stability. - **Responsiveness:** Customer-centric approach, offering multi-channel accessibility and customized solutions. Recognition and Awards - **Best Trade Finance Provider (India) – 2023:** Awarded by Global Finance Magazine for the eleventh consecutive year. Vision and Mission - **Vision:** To be the Bank of Choice for a Transforming India. - **Mission:** Committed to providing Simple, Responsive, and Innovative Financial Solutions. SBI continues to lead the banking industry in India through a combination of innovation, resilience, and a strong commitment to sustainability and customer-centricity. The bank’s strategic focus on digital transformation and responsible banking practices positions it well for continued growth and leadership in the financial sector. #SBI #AnnualReport #FinancialPerformance #DigitalTransformation #sustainability #ESG #BankingInnovation #CSR #MarketLeadership #BankingSector #IndiaGrowth #YONO #FutureOfBanking #viralborn *Source: SBI Annual Report 2023*

NPS does not just help you save extra Rs 50,000 in taxes but also gives you great returns if invested in the right place. These 10 NPS schemes delivered impressive returns in the last year - 1. Tata-PF 39.74% 2. ICICI-PF 38.93% 3. UTI-RSL 36.89% 4. Max Life 35.95% 5. Birla-PF 35.06% 6. Kotak-PF 35.02% 7. Axis 34.06% 8. SBI PF 34.06% 9. LIC PF 33.94% 10. HDFC PF 33.93% How to invest in NPS? Read Below Under section 80 C you get a maximum deduction of Rs 150,000 this is where NPS can come to the rescue and save additional 16000 taxes by giving you a deduction amount of 50,000! So ideally, one can invest Rs 50,000 every year to not just save taxes but also build a retirement fund simultaneously. There are both online and offline method to invest in NPS - Offline Process To open an NPS account offline or manually, you will have to find a PoP (could be a Bank) registered with the PFRDA. Collect a subscriber form from your nearest PoP and submit it along with the KYC papers. Online Process With this, you can open an account in less than half an hour. Opening an account online (enps.nsdl.com) is easy if you link your account to you PAN, Aadhaar and mobile no. Types of NPS Account Tier I and Tier II are two types under NPS. The tier I is a default account while latter is voluntary. In Tier II account, there is no tax exemption apart from government employees. It's majorly for investing and not for tax savings. 4 asset classes in NPS are Equity (class E), Corporate Bonds (Class C), Government Bonds (Class G), Alternate Assets (Class A) Want additional details on NPS? Comment below with your queries!! The returns are as on March 22,2024 Source: npstrust.org.in #nps #nationalpensionscheme #retirementplanning #retirement #retirementfund #taxplanning #taxseason #savetaxes #taxtips #financetips #finance #financegoals #investing #investmenttips

Ganapathy retired from bank service as Senior Manager. Got handsome retirement benefits. He deposited around 50 lacs in Mutual Funds and debt funds. 25 lacs he kept in SB account itself, as his pension was sufficient for him and his wife. He included his wife's name in his savings account and taught her online banking and the importance of OTP... He told her not to divulge OTP to anyone. One evening Ganpathy returned from walk. 'I forgot to take my mobile...By the way, anything important?' he asked. Wife said 'Someone phoned from the bank' Ganapathy froze. 'Regarding OTP?' He asked shockingly . Wife said 'You are smart. Of course they wanted me to share the OTP as they wanted to convert our account from silver status to diamond status with more benefits' 'My God..did you get an OTP? Did you share it?' 'Of course..when it is the bank people calling how can I refuse?' Ganapathy slumped on the sofa. He immediately took the mobile, logged into bank account, with a heart pounding like a jet motorset, murmuring "My dear .... 25 lacs gone" But he was pleasantly surprised to see not only 25 lacs was safe, but also the SB interest was added to it. "Did you share the OTP correctly?" he asked the wife.. "Yes. But the bank people repeatedly said that it is not correct and asked me to re-check. I stood my ground." "What was the OTP?" "It was 2404. Since it is a joint account, I 'shared' only my half of the OTP.... that is 1202" #hrcommunity #hrmanagers #work #hrd #hrgeneralist #hrprofessionals #hr #hrm #hrleaders #hrmanagement #leadership #humanresources #humancapital #culture #hrbusinesspartner #careers #business #productivity #management #economy #transformation #employeeexperience #industrialRelations #society #Success #vishalkhedekar #future #futureofwork #remotework #entrepreneur #growth #india #collaboration #peopleandculture #leader #organisationaldevelopment