It, therefore, becomes absolutely essential that the Indian population begins planning well in advance for their retirement needs to ensure a comfortable and stress-free future. The National Pension System (NPS), pension products provided by insurance companies, EPF, and the Public Provident Fund (PPF) are all accumulation products catering to retirement needs. AnnuitiesAnnuity caters to the key dilemmas of a pensioner; it provides life-long pension at a steady, guaranteed rate. There are financial issues related to the rising elderly population that will need to addressed, and soon. The average life expectancy in India has increased by 3.5 years every decade over the past three decades.

Source: Mint June 12, 2016 19:07 UTC