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INGENIOUS
Issue No. 1 In-house magazine of FCFP members September 2022
Dear Readers,
We are pleased to launch the bi-monthly “Ingenious
Magazine” by the alumni of Foundation Course in Finan-
cial Planning (FCFP) 2022 1st
Batch from Gopast Cen-
tre for Learning Pvt. Ltd., under the able guidance of
our Guru Shri Gopinath Radhakrishnan Sir. It comprises
of write ups on financial products and latest news
articles related to economy, finance and insurance in-
dustry based on our research.
An insight about Foundation Course in Financial Planning
(FCFP) :- FCFP is a professional course launched by Go-
past Centre for learning Pvt. Ltd. in the month of Janu-
ary 2022 for insurance and finance industry profes-
sionals to enhance their professional competence and
earn distinction in the financial market.
Topics covered :- 1) The Client’s Needs 2) The Fact
Finding Process 3) Good Practice 4) Protection Prod-
ucts 5) Savings & Investment Products 6) Pension Prod-
ucts
The successful completion certificate was issued based
on the evaluation of 5 online examinations and 10 paper
submissions on the subjects during the 3 months
course duration.
In continuation to this Gopast Centre for Learning Pvt.
Ltd. has launched Continuing Professional Development
CPD for the FCFP participants where practical implica-
tions of these learning will be continued in more depth
on a bi-monthly basis under the guidance and teachings
of our Guru Shri Gopinath Radhakrishnan Sir.
Wish you a happy reading.
Thanking you & Regards,
Organizing committee — Alumni FCFP
National
Pension
Scheme
India leaves
UK behind
Insurance to
go Demat from
Dec’22 says
IRDAI
Data Privacy
bill soon
Latest
Economic Data
Chairman’s Address
Dear Associates,
I take great pride in writing my brief message for the first issue
of Ingenious, as this is an effort made by our participants for
the sake of the participants of the 1st batch of AWF and
FCFP course of Gopast. The layout and the contents
have all been designed and complied by the Organising commit-
tee of the Alumni. I congratulate the team for this successful maiden endeavour. To update
oneself is the only constant need in this ever changing world. This magazine is an endeavour
to serve that purpose. To serve our clients all of us need to become competent and also sustain
that competence through continuous learning efforts. Becoming competent is not a choice but
a primary duty of the professionals. I am sure that as you go through the pages of
“Ingenious” you will acquire lots of information that it will prompt you to read and re-read
this many times over. Best wishes to you all and a happy reading experience.
R.Gopinath
Mr. R. Gopinath Chairperson
Mr. Ankur Shah Convener
Ms. Savita Pillai Secretary
Ms. Bharthi Srinivasan Member
Mr. Atul Jain Member
Mr. Ajay Kumar Tyagi Member
Mr. Inderpal Singh Bindra Member
Office Bearers
Latest Policy Rates (Source RBI website) as at 01:30 pm on 07-Sep-2022
Policy Rates Reserve Ratios Exchange Rates Lending / Deposit Rates
Policy Repo Rate 5.40% CRR 4.50 % INR / 1 USD 79.922 Base Rate 7.75% - 8.80%
Standing Deposit Facility
Rate
5.15% SLR 18.00 % INR / 1 GBP 91.729 MCLR (Overnight) 6.80% - 7.65%
Marginal Standing Facili-
ty Rate
5.65% INR / 1 EUR 79.07 Savings Deposit Rate 2.70% - 3.00%
Bank Rate 5.65% INR / 100 JPY 55.46
Term Deposit Rate >
1 Year
5.30% - 6.10%
Fixed Reverse Repo Rate 3.35%
DataCentre
Money Market 08.09.2022
Call Rates 3.80% - 5.25% *
* as on previous day
Government Securities Market
7.26% GS 2032 7.1279% #
6.54% GS 2032 7.1844% #
7.38% GS 2027 7.0363% #
5.74% GS 2026 6.9810% #
6.69% GS 2024 6.6613% #
4.56% GS 2023 6.3200% #
91 day T-bills 5.6287%*
182 day T-bills 6.0999%*
364 day T-bills 6.3378%*
* cut-off at the last auction
# as on end of previous working day
Capital Market
S&P BSE Sensex 59028.91 *
Nifty 50 17624.40 *
* as on previous day
GDP (US$ million) by country
Sr No Country/Territory
UN Re-
gion
IMF
Estimate Year
World — 9,38,63,851 2021
1 United States Americas 2,53,46,805 2022
2 China Asia 1,99,11,593 2022
3 Japan Asia 49,12,147 2022
4 Germany Europe 42,56,540 2022
5 India Asia 35,34,743 2022
6 United Kingdom Europe 33,76,003 2022
7 France Europe 29,36,702 2022
8 Canada Americas 22,21,218 2022
9 Italy Europe 20,58,330 2022
10 Brazil Americas 18,33,274 2022
11 Russia Europe 18,29,050 2022
12 South Korea Asia 18,04,680 2022
13 Australia Oceania 17,48,334 2022
14 Iran Asia 17,39,012 2022
15 Spain Europe 14,35,560 2022
Latest Small Savings Schemes Rates
Instrument Rates Compounding Frequency
Savings Deposit 4 Annually
1 Year Time Deposit 5.5 Quarterly
2 Year Time Deposit 5.5 Quarterly
3 Year Time Deposit 5.5 Quarterly
5 Year Time Deposit 6.7 Quarterly
5 Year Recurring Deposit 5.8 Quarterly
Senior Citizen Savings Scheme 7.4 Quarterly & paid
Monthly Income Account 6.6 Monthly & paid
National Savings Certificate 6.8 Annually
PPF 7.1 Annually
Kisan Vikas Patra 6.9 (Matures in 124 months) Annually
Sukanya Samriddhi 7.6 Annually
September 2022
Samachaar
Our Atmanirbhar Bharath has
seen the raise of UPI payments in the
recent few months. This digital platform
is known for its most
convenient mode of
making and receiving
money directly into
bank account without
even remembering the
account number.
The National
Payments Corporation of India (NPCI),
an umbrella organization for operating
retail payments and settlement systems
in India, conducted a pilot launch for
UPI with 21 member banks. The pilot
launch was started on 11th April 2016 by
Dr. Raghuram G Rajan, Governor, RBI
at Mumbai.
The Covid-19 pandemic has ac-
celerated the pace of digital payments
with UPI becoming the biggest benefi-
ciary. In the last 6 years alone, UPI trans-
actions have skyrocketed, now exceeding
$100 billion per month. For over 150
million monthly users, these transactions
occur largely via mobile wallets and pay-
ments applications.
In fiscal 2022, the platform pro-
cessed 45 billion transactions worth
Rs.77.94 trillion. The next target for UPI
is to process a billion
transactions per day in
the next 3-5 years.
Notably, the
global presence of UPI
is apparent as countries
like Bhutan and Nepal
are already accepting
UPI, and it is likely to go live in Singa-
pore later this year. Further, merchants in
Singapore, Cambodia, Malaysia, Thai-
land, Philippines, Vietnam and Bhutan,
accept UPI payments through QR-code
payment systems common in Asia conti-
nent.
Also, Lyra Network – a French
company, has announced that it would
deploy UPI. This is the entrance of UPI
into the European Union (EU) as an al-
ternative payments system designed to
be reliable, secure, and interoperable
among other digital payment firms.
Reported by—Bharthi Srinivasan
UPI payments at all time High
Liz Truss New Prime
Minister – UK
Liz Truss vows energy crisis action
after becoming Britain's new PM
Liz Truss took over as British
prime minister on Tuesday, vowing im-
mediate action to tackle one of the most
daunting set of challenges for an incom-
ing leader in post-War history led by
soaring energy bills, a looming recession
and industrial strife.
“I am confident that together we
can ride out the storm. We can rebuild
our economy, and we can become the
modern brilliant Britain that I know we
can be."
Truss, who will later announce her
government appointments, said she had
three priorities: growing the economy
through tax cuts, dealing with rising en-
ergy costs from this week, and ensuring
people got the care they needed from the
state-run National Health Service.
However, she inherits an economy
in crisis, with inflation at double digits,
the cost of energy soaring and the Bank
of England warning of a lengthy reces-
sion by the end of this year. Already,
workers across the economy have gone
on strike.
Her plan to revive growth through
tax cuts, while also potentially providing
around 100 billion pounds ($116 billion)
for energy, has rattled financial markets,
prompting investors to dump the pound
and government bonds in recent weeks.
Truss has also promised to scrap
plans to increase corporation tax on big
firms, and to reverse an increase in a pay-
roll tax on workers and employers, de-
signed to raise additional funding for
health and social care, with the extra
spending coming from general taxation.
British 30-year government bonds
suffered their sharpest one-day fall since
March 2020 when the COVID-19 pan-
demic caused turmoil in financial mar-
kets, as investors honed in on the extra
borrowing Truss's plans are likely to re-
quire.
Ten-year borrowing costs rose to
their highest since 2011, but two-year
yields fell, with economists noting that
an energy price cap would stop inflation
rising in the near term.
"I will take action this day and action
every day to make it happen. United with
our allies, we will stand up for freedom
and democracy around the world of rec-
ognising that we can't have security at
home without having security abroad.”
Britain, under Conservative rule
since 2010, has stumbled from crisis to
crisis in recent years and there is now the
prospect of a long energy emergency that
could drain the savings of households
and threaten the futures of businesses
still weighed down by COVID-era
loans.
Household energy bills are due to
jump by 80% in October, but a source
familiar with the situation has told Reu-
ters that Truss may freeze bills in a plan
that could cost towards 100 billion
pounds ($115.33 billion), surpassing the
COVID-19 furlough scheme.
The scale of the package, plus the
fact the energy crisis could run for a cou-
ple of years, has spooked investors.
The pound has fared worse
against the U.S. dollar than most other
major currencies recently.
In August alone sterling shed 4%
against the greenback and it marked the
worst month for 20-year British govern-
ment bonds since around 1978, accord-
ing to records from Refinitiv and the
Bank of England.
Britain's public finances also re-
main weighed down by the government's
huge coronavirus spending spree. Public
debt as a share of economic output is not
far off 100%, up from about 80% before
the pandemic.
Synopsis
"I am confident that together we
can ride out the storm. We can rebuild
our economy, and we can become the
modern brilliant Britain that I know we
can be," Truss said, standing in front of
Number 10 Downing Street.
Reported by — Savita Pillai
September 2022
Samachaar
India will be included in JPMorgan & Chase Co’s emerging mar-
kets bond index (EMBI) expects Morgan Stanley
What are the Indexes?
A basket of securities (Nifty 50). In the
bond market 3 types of indices
1. High yield Risky Bonds
2. Emerging Market Bonds
3. Government Bonds
 Indices serve as bench mark or
guide for investors, Pension
Funds, Mutual Funds
 Difficult for investors to track
multiple global bond markets.
This is where bond index helps.
 Russia’s exclusion from GBI –
EM.
 Russia had 8% weight before be-
ing removed
 Now 7 countries with a weight of
10% each & 13 more countries
sharing rest 30% weight
 With Russia’s Exclusion the in-
dex has become more concentrat-
ed & Unbalanced
 India’s inclusion with $ 1 trillion
debt market is expected with 10%
(max for 1 country) weight
 Criteria for inclusion in Bond
Indices
1.Liquidity
2.Safety
3.Return
4.Size of market
5.Sovereign Rating
6.Ease of Access
J P Morgan insists Settlement of in-
vestments on international clearing
houses such as Euroclear
 India ticks all boxes baring only
one Tax Policy (does not allow
settlement on Euroclear). Govern-
ment unwilling to exempt foreign-
ers from capital gain tax. Index
could make 1 exception if all oth-
er criteria matched.
 Resolution expected on operation-
al issues such as clearing on inter-
national clearing houses
 Positives
1.Massive dollar inflows from pas-
sive investors
2.Steady Exchange Rate
3.Stronger foreign investors base
Reported by—Ankur Shah
India overtakes the UK as world’s fifth-largest economy
On September 2, the International
Monetary Fund (IMF) announced that
India had surged past the United King-
dom to become the fifth largest economy
in the world.
The latest change in rankings is
based on quarterly gross domestic prod-
uct (GDP) numbers in current dollars for
the period ending December 2021.
India increased its lead over the UK in
the quarter ending March,
IMF data showed
“On an adjusted basis
and using the dollar ex-
change rate on the last day of
the relevant quarter, the size
of the Indian economy in
‘nominal’ cash terms in the quarter
through March was $854.7 billion. On
the same basis, UK was $816 billion,”
stated the Bloomberg report.
Reported by — Ajay Tyagi
GDP (US$ million) by country
Sr
No
Country/
Territory
UN Re-
gion
IMF
Estimate Year
— 93,863,851 2021
World
1 United States Americas 25,346,805 2022
2 China Asia 19,911,593 2022
3 Japan Asia 4,912,147 2022
4 Germany Europe 4,256,540 2022
5 India Asia 3,534,743 2022
6 United Kingdom Europe 3,376,003 2022
7 France Europe 2,936,702 2022
8 Canada Americas 2,221,218 2022
9 Italy Europe 2,058,330 2022
10 Brazil Americas 1,833,274 2022
September 2022
Samachaar
India to have its own data protection bill soon
India currently lacks a sound legislation
for data protection. After five years in the
making, the bill that was designed to
protect the privacy of Indians, the Per-
sonal Data Protection Bill 2019, was
withdrawn by the government on
Wednesday. The government assured to
table a new bill soon.
What is data Protection Bill India?
The Bill aimed to provide protection of
digital privacy to individuals relating to
their personal data, specify the flow and
usage of data, and create a relationship of
trust between persons and entities pro-
cessing the data.03-Aug-2022
What is covered in data privacy law?
Data privacy laws specify how data
should be collected, stored, and shared
with third parties. The
most widely discussed
data privacy laws include:
GDPR: The European
Union's General Data
Protection Regulation
(GDPR) is the most com-
prehensive data privacy
law in effect.
Who is responsible for data privacy?
Today, there is no consensus on who is
responsible for data privacy. Some con-
sumers agree that the responsibility lies
with them, but others think governments
or businesses are better equipped to deal
with this complex issue.08-Jan-2019
Reported by — Atul Jain
Demat all Insurance Policies by Dec’22
says IRDAI
What is dematerialisation of insurance policy?
Dematerialisation means transforming physical documents
into a modifiable online format. With dematerialisation or
'Demat', a policy holder can create a portfolio of insurance
policies he has and store them in an electronic form with an
insurance repository.
What is Demat in policy?
Dematerialisation or 'Demat' allows a policy
holder to create a portfolio of insurance poli-
cies and store them in an electronic form with
an insurance repository. It has been introduced
by IRDAI as a similar facility to the one avail-
able for stocks.
With this rule, policyholders can have
only one e-Insurance Account with an insur-
ance repository of their choice.
From November 1, 2022 e-KYC will
also become mandatory for all insurance poli-
cies, which will further help in dematerialising
insurance policies.
The IRDAI has also proposed setting up a new platform
for the sale, servicing, and claims of insurance policies, which
will be operational from December 2022.
What is the most important requirement for dematerialisa-
tion?
Dematerialisation starts with opening a Demat account. For
Demat account opening, you need to shortlist a Repository that
offers Demat services.
Four Insurance Repositories
1. NSDL National Insurance Repository
2. CDSL Insurance Repository Ltd.
3. Karvy Insurance Repository Ltd.
4. CAMS Insurance Repository Services Ltd.
The Insurance Repository
Maintains the Electronic Insurance Account (eIA) of the in-
sured person and all insurance policies (life/non-life/group).
Can be stored and accessed through this facility.
In the last few years, insurance repositories have helped
in electronic issuance, storage, and services for over 10 million
insured persons.
There is huge responsibility on the fi-
nancial professionals to assist all their custom-
ers and clients in getting the policies Demat.
It’s a golden opportunity to serve our custom-
ers and be in line with the change.
Reported by — Inderpal Singh Bindra
Keep watching for
more on Data Privacy
Bill. This is very im-
portant for Insurance
Industry.
September 2022
National Pension Scheme
National Pension Scheme
(NPS) is a pension scheme run
by government and regulated
by PFRDA for individuals, gov-
ernment employees, private
firm employees, organized sec-
tor and non-organized sector to
accumulate required corpus to purchase annuity
(pension) on retirement. It has certain benefits such as
low-cost fund, certain tax benefits. It also offers flexibil-
ity to choose & change your Pension Fund Manager
(PFM).
Accumulating corpus for retirement requires contribu-
tion for long durations. The long durations savings/
investment require more inflation proofing compared
to short duration goals. The choice of asset backed in-
vestment options under NPS provide inflation proofing
necessary for such a long duration goal though with
some short time volatility.
Post retirement one will need adequate guaranteed
predictable monthly pension income which will remain
inflation proof as long as one is alive. Providing for
one’s retirement income is one of the most important
real needs of any individual. But generally, people give
importance to short term needs which are perceived
needs and not the real need. One must give retirement
goal as importance as to child education or protection
of income or any other must have financial goal. Since
the topic is NPS I will not go in to details of financial
planning need for retirement but let’s discuss one of
the best options NPS to accumulate corpus for retire-
ment need.
Let me explain in very simple steps how NPS works
 Open NPS account (One can open online ENPS)
 Chose tier 1 (only tier 1 offers tax benefit)
 Choose your PFM (Pension Fund Manager)
 Make investment choice (Auto/Active)
 In case of Active choice chose asset allocation
 Make initial contribution as low as Rs 500
 Make contributions till age 60 (lock in period)
 Your contributions over the year would have
grown in sizable corpus
 Utilize at least 40% of your corpus to purchase
immediate annuity from any approved life insur-
ance company at a prevailing rate at that time.
Now let’s understand the features, technical details,
Pension Fund Managers, Past returns of different
schemes PFM wise, FAQs, Procedure to open online
ENPS account. There or two types on NPS accounts Tier
1 & Tier 2, in this article I would be discussing Tier 1
only.
Age limits
18 yrs to 70 yrs
Who can open
 Any individual citizen of India (both resident and
Non-resident)
 NRI can open an NPS account. Contributions
made by NRI are subject to regulatory require-
ments as prescribed by RBI and FEMA from time
to time.
 However, OCI (Overseas Citizens of India) and
PIO (Person of Indian Origin) card holders and
HUFs are not eligible for opening of NPS account.
Minimum Contributions Tier 1
A. Minimum amount per contribution - Rs. 500
B. Minimum contribution per FY - Rs. 1,000
C. Minimum number of contributions in a FY - 1
Lock in Period
Up to age 60
Max Maturity Age
Age 75
Tax Benefit:
On Contributions
Any individual who is Subscriber of NPS can claim tax
benefit under Sec 80 CCD (1) with in the overall ceiling
of Rs. 1.5 lac under Sec 80 CCE.
An additional deduction for investment up to Rs.
50,000 in NPS (Tier I account) is available exclusively to
NPS subscribers under subsection 80CCD (1B). This is
over and above the deduction of Rs. 1.5 lakh available
under section 80C of Income Tax Act. 1961. Thus mak-
ing it total Rs 2 lakhs.
On withdrawal
Up on the completion of age 60 max corpus that can be
withdrawn is 60%. 40% of corpus withdrawn in tax free.
Scheme Change
Scheme can be changed max 4 times in a Financial Year
& PFM can be changed 1 times in a FY
National Pension Scheme
List of Pension Fund Managers (PFM)
1. Birla Sunlife Pension Management Limited
2. HDFC Pension Management Company Limited
3. ICICI Prudential Pension Funds Mgmt. Co. Ltd.
4. Kotak Mahindra Pension Fund Limited
5. LIC Pension Fund Limited
6. SBI Pension Funds Private Limited
7. UTI Retirement Solutions Limited
Types of Asset Class
There are four Asset Classes (Equity, Corporate debt,
Government Bonds and Alternative Investment Funds)
from which the allocation is to be specified under single
PFM.
Choices for Investment (Refer to charts at the end of
article)
 Active
 Auto
 LC75
 LC50
 LC25
Subscription Limits for Active Choice among 4 asset
classes E, C, G & A
Subscriber can select multiple Asset Class under a single
PFM as mentioned below:
 Upto 50 years of age, the maximum permitted
Equity Investment is 75% of the total asset allo-
cation.
 From 51 years and above, maximum permitted
Equity Investment will be as per the equity allo-
cation matrix provided below. The tapering off of
equity allocation will be carried out as per the
matrix on date of birth of Subscriber.
 Percentage contribution value cannot exceed 5%
for Alternative Investment Funds.
 The total allocation across E, C, G and A asset
classes must be equal to 100
Exit Options
Upon Superannuation
When a subscriber reaches the age of Superannuation/
attaining 60 years of age, he or she will have to use at
least 40% of accumulated pension corpus to purchase
an annuity that would provide a regular monthly pen-
sion. The remaining funds can be withdrawn as lump
sum.
If the total accumulated pension corpus is less than or
equal to Rs. 5 lakh, Subscriber can opt for 100% lump
sum withdrawal.
Pre-mature Exit
In case of pre-mature exit (exit before attaining the age
of superannuation/attaining 60 years of age) from NPS,
at least 80% of the accumulated pension corpus of the
Subscriber has to be utilized for purchase of an Annuity
that would provide a regular monthly pension. The re-
maining funds can be withdrawn as lump sum. Howev-
er, you can exit from NPS only after completion of 5
years.
If the total corpus is less than or equal to Rs. 2.5 lakh,
Subscriber can opt for 100% lump sum withdrawal.
Upon Death of Subscriber
The entire accumulated pension corpus (100%) would
be paid to the nominee/legal heir of the subscriber.
Partial Withdrawal
Following are the conditions of Conditional Withdrawal
1. Subscriber should be in NPS at least for 3 years
2. Withdrawal amount will not exceed 25% of the
contributions made by the Subscriber
3. Withdrawal can happen maximum of three times
during the entire tenure of subscription
4. Withdrawal is allowed only against the specified
reasons, for example:
I. Higher education of children
II. Marriage of children
III. For the purchase/construction of residen-
tial house (in specified conditions)
IV. For treatment of Critical Illness
1. Asset class E Equity and related instruments
2. Asset class C
Corporate debt and related in-
struments
3. Asset class G
Government Bonds and related
instruments
4. Asset Class A
Alternative Investment Funds
including instruments like CMBS,
MBS, REITS, AIFs, Invlts etc
National Pension Scheme
Available options at age 60
Subscriber can decide to remain invested in NPS (Up to
75 years) or can exit from NPS.
Following options are available to NPS Subscribers:
Continuation of NPS account
Subscriber can continue to contribute to NPS account
beyond the age of 60 years/superannuation (Up to 75
years).
This contribution beyond 60 is also eligible for exclusive
tax benefits under NPS.
Deferment (Annuity as well as Lump sum amount)
Subscriber can defer Withdrawal and stay invested in
NPS up to 75 years of age. Subscriber can defer only
lump sum Withdrawal, defer only Annuity or defer both
lump sum as well as Annuity.
Start your Pension
If Subscriber does not wish to continue/defer NPS ac-
count, he/she can exit from NPS. He/she can initiate
exit request online and asper NPS exit guidelines start
receiving pension.
Author— Mr. Ankur Shah
Relevant Data of NPS
Active Choice
Equity Allocation Matrix
Age in
Years
Max. Equity Allocation
Upto 50 75.00 %
51 72.50 %
52 70.00 %
53 67.50 %
54 65.00 %
55 62.50 %
56 60.00 %
57 57.50 %
58 55.00 %
59 52.50 %
60 & above 50.00 %
Auto Choice
LC75
Age
Asset Class
E
Asset Class C
Asset Class
G
Up to 35 years 75 10 15
36 years 71 11 18
37 years 67 12 21
38 years 63 13 24
39 years 59 14 27
40 years 55 15 30
41 years 51 16 33
42 years 47 17 36
43 years 43 18 39
44 years 39 19 42
45 years 35 20 45
46 years 32 20 48
47 years 29 20 51
48 years 26 20 54
49 years 23 20 57
50 years 20 20 60
51 years 19 18 63
52 years 18 16 66
53 years 17 14 69
54 years 16 12 72
55 years &
above
15 10 75
Auto Choice
LC50
Age
Asset
Class E
Asset
Class C
Asset
Class G
Up to 35
years
50 30 20
36 years 48 29 23
37 years 46 28 26
38 years 44 27 29
39 years 42 26 32
40 years 40 25 35
41 years 38 24 38
42 years 36 23 41
43 years 34 22 44
44 years 32 21 47
45 years 30 20 50
46 years 28 19 53
47 years 26 18 56
48 years 24 17 59
49 years 22 16 62
50 years 20 15 65
51 years 18 14 68
52 years 16 13 71
53 years 14 12 74
54 years 12 11 77
55 years &
above
10 10 80
Auto Choice
LC25
Age
Asset
Class E
Asset
Class C
Asset
Class G
Up to 35
years
25 45 30
36 years 24 43 33
37 years 23 41 36
38 years 22 39 39
39 years 21 37 42
40 years 20 35 45
41 years 19 33 48
42 years 18 31 51
43 years 17 29 54
44 years 16 27 57
45 years 15 25 60
46 years 14 23 63
47 years 13 21 66
48 years 12 19 69
49 years 11 17 72
50 years 10 15 75
51 years 9 13 78
52 years 8 11 81
53 years 7 9 84
54 years 6 7 87
55 years &
above
5 5 90
Click here to know in detail for exit options Exit Options
Click here to join ENPS Create ENPS Account online
Click here for returns of NPS Schemes https://www.npstrust.org.in/return-of-nps-scheme
SCHEME—C
Tier
1
Pension Fund
Inception
Date
AUM
(Rs Crs)
Subscrib-
ers
NAV
Re-
turns
1
Year
Returns
3 Years
Re-
turns
5
Years
Re-
turns
7 Years
Re-
turns
10
Years
Re-
turns
Incep-
tion
Birla Sun Life Pension 09-May-17 123.61 28,893 15.5538 3.27% 7.38% 7.79% NA NA 8.62%
HDFC Pension 01-Aug-13 6786.41 12,79,422 23.0820 3.66% 7.76% 7.82% 8.79% NA 9.61%
ICICI Pru. Pension 18-May-09 2686.26 5,00,459 34.8646 3.02% 7.00% 7.45% 8.56% 9.35% 9.83%
Kotak Mahindra Pension 15-May-09 467.32 75,377 33.5642 3.05% 6.63% 6.65% 8.04% 8.86% 9.51%
LIC Pension 23-Jul-13 17799.59 3,17,354 22.6812 3.26% 7.40% 7.39% 8.44% NA 9.38%
SBI Pension Funds 15-May-09 5300.24 11,80,477 35.0436 3.02% 7.22% 7.47% 8.51% 9.15% 9.87%
UTI Retirement 21-May-09 668.13 1,09,815 31.0285 2.80% 7.21% 6.98% 8.17% 8.90% 8.88%
Tata Pension 19-Aug-22 1.17 624 10.0074 NA NA NA NA NA 1.29%
3.28% 8.03% 7.87% 8.84% 9.33%
Benchmark Return as on 09.09.2022
SCHEME—G
Tier
1
Pension Fund
Inception
Date
AUM
(Rs Crs)
Subscrib-
ers
NAV
Re-
turns
1
Year
Returns
3 Years
Re-
turns
5
Years
Re-
turns
7 Years
Re-
turns
10
Years
Re-
turns
Incep-
tion
Birla Sun Life Pension 09-May-17 188.44 28,544 14.9364 2.89% 6.33% 7.13% NA NA 7.80%
HDFC Pension 01-Aug-13 11210.68 12,73,250 22.2948 2.25% 6.35% 7.33% 8.50% NA 9.20%
ICICI Pru. Pension 18-May-09 4658.00 4,95,762 29.8254 2.37% 6.01% 7.12% 8.38% 8.99% 8.55%
Kotak Mahindra Pension 15-May-09 774.29 74,785 29.8089 2.82% 6.17% 7.18% 8.58% 8.94% 8.54%
LIC Pension 23-Jul-13 3269.68 3,21,745 24.0893 2.63% 6.34% 7.86% 9.22% NA 10.10%
SBI Pension Funds 15-May-09 11003.54 11,87,040 32.1986 2.29% 6.09% 7.16% 8.48% 8.88% 9.17%
UTI Retirement 21-May-09 1212.99 1,06,883 28.7680 2.59% 5.96% 6.87% 8.09% 8.65% 8.26%
Tata Pension 19-Aug-22 2.32 623 9.9855 NA NA NA NA NA -2.49%
2.07% 5.37% 6.51% 7.87% 8.41%
Benchmark Return as on 09.09.2022
SCHEME—A
Tier
1
Pension Fund
Inception
Date
AUM
(Rs Crs)
Subscrib-
ers
NAV
Re-
turns
1
Year
Returns
3 Years
Re-
turns
5
Years
Re-
turns
7 Years
Re-
turns
10
Years
Re-
turns
Incep-
tion
Birla Sun Life Pension 15-May-17 2.38 2,632 14.2745 11.12% 6.75% 6.95% NA NA 6.91%
HDFC Pension 10-Oct-16 116.48 1,15,415 16.7165 11.84% 9.39% 9.16% NA NA 9.07%
ICICI Pru. Pension 21-Nov-16 24.71 27,583 15.4280 10.28% 7.34% 7.78% NA NA 7.76%
Kotak Mahindra Pension 14-Oct-16 7.02 6,406 15.4131 8.51% 7.33% 7.95% NA NA 7.60%
LIC Pension 13-Oct-16 9.47 16,672 15.5967 7.20% 7.48% 8.14% NA NA 7.81%
SBI Pension Funds 13-Oct-16 45.17 66,907 17.5514 10.80% 11.6% 10.62% NA NA 9.99%
UTI Retirement 14-Oct-16 6.79 7,242 14.8741 9.41% 6.90% 7.05% NA NA 6.95%
Tata Pension 19-Aug-22 0.02 58 10.0156 NA NA NA NA NA 2.75%
SCHEME—E
Tier
1
Pension Fund
Inception
Date
AUM
(Rs Crs)
Subscrib-
ers
NAV
Re-
turns
1
Year
Returns
3 Years
Re-
turns
5
Years
Re-
turns
7 Years
Re-
turns
10
Years
Re-
turns
Incep-
tion
Birla Sun Life Pension 09-May-17 270.63 29,123 19.1388 3.99% 17.73% 12.31% NA NA 12.93%
HDFC Pension 01-Aug-13 15,647.02 12,98,533 35.7809 3.59% 18.92% 13.14% 13.92% NA 15.02%
ICICI Pru. Pension 18-May-09 5,363.71 5,04,440 47.1972 3.75% 18.59% 12.90% 13.07% 13.84% 12.35%
Kotak Mahindra Pension 15-May-09 1,007.28 76,622 43.8031 4.68% 18.74% 12.21% 13.28% 14.02% 11.72%
LIC Pension 23-Jul-13 2,916.68 3,18,009 30.2965 5.15% 18.59% 11.89% 12.38% NA 12.90%
SBI Pension Funds 15-May-09 9,638.31 11,88,321 39.1841 3.96% 17.23% 12.14% 12.76% 13.57% 10.79%
UTI Retirement 21-May-09 1,385.70 1,11,159 46.3805 3.51% 18.21% 12.36% 13.10% 14.08% 12.22%
Tata Pension 19-Aug-22 2.61 630 10.1036 NA NA NA NA NA 19.62%
6.08% 19.94% 13.76% 13.93% 14.24%
Benchmark Return as on 09.09.2022

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Ingenious Sept 2022.pdf

  • 1. INGENIOUS Issue No. 1 In-house magazine of FCFP members September 2022 Dear Readers, We are pleased to launch the bi-monthly “Ingenious Magazine” by the alumni of Foundation Course in Finan- cial Planning (FCFP) 2022 1st Batch from Gopast Cen- tre for Learning Pvt. Ltd., under the able guidance of our Guru Shri Gopinath Radhakrishnan Sir. It comprises of write ups on financial products and latest news articles related to economy, finance and insurance in- dustry based on our research. An insight about Foundation Course in Financial Planning (FCFP) :- FCFP is a professional course launched by Go- past Centre for learning Pvt. Ltd. in the month of Janu- ary 2022 for insurance and finance industry profes- sionals to enhance their professional competence and earn distinction in the financial market. Topics covered :- 1) The Client’s Needs 2) The Fact Finding Process 3) Good Practice 4) Protection Prod- ucts 5) Savings & Investment Products 6) Pension Prod- ucts The successful completion certificate was issued based on the evaluation of 5 online examinations and 10 paper submissions on the subjects during the 3 months course duration. In continuation to this Gopast Centre for Learning Pvt. Ltd. has launched Continuing Professional Development CPD for the FCFP participants where practical implica- tions of these learning will be continued in more depth on a bi-monthly basis under the guidance and teachings of our Guru Shri Gopinath Radhakrishnan Sir. Wish you a happy reading. Thanking you & Regards, Organizing committee — Alumni FCFP National Pension Scheme India leaves UK behind Insurance to go Demat from Dec’22 says IRDAI Data Privacy bill soon Latest Economic Data
  • 2. Chairman’s Address Dear Associates, I take great pride in writing my brief message for the first issue of Ingenious, as this is an effort made by our participants for the sake of the participants of the 1st batch of AWF and FCFP course of Gopast. The layout and the contents have all been designed and complied by the Organising commit- tee of the Alumni. I congratulate the team for this successful maiden endeavour. To update oneself is the only constant need in this ever changing world. This magazine is an endeavour to serve that purpose. To serve our clients all of us need to become competent and also sustain that competence through continuous learning efforts. Becoming competent is not a choice but a primary duty of the professionals. I am sure that as you go through the pages of “Ingenious” you will acquire lots of information that it will prompt you to read and re-read this many times over. Best wishes to you all and a happy reading experience. R.Gopinath Mr. R. Gopinath Chairperson Mr. Ankur Shah Convener Ms. Savita Pillai Secretary Ms. Bharthi Srinivasan Member Mr. Atul Jain Member Mr. Ajay Kumar Tyagi Member Mr. Inderpal Singh Bindra Member Office Bearers
  • 3. Latest Policy Rates (Source RBI website) as at 01:30 pm on 07-Sep-2022 Policy Rates Reserve Ratios Exchange Rates Lending / Deposit Rates Policy Repo Rate 5.40% CRR 4.50 % INR / 1 USD 79.922 Base Rate 7.75% - 8.80% Standing Deposit Facility Rate 5.15% SLR 18.00 % INR / 1 GBP 91.729 MCLR (Overnight) 6.80% - 7.65% Marginal Standing Facili- ty Rate 5.65% INR / 1 EUR 79.07 Savings Deposit Rate 2.70% - 3.00% Bank Rate 5.65% INR / 100 JPY 55.46 Term Deposit Rate > 1 Year 5.30% - 6.10% Fixed Reverse Repo Rate 3.35% DataCentre Money Market 08.09.2022 Call Rates 3.80% - 5.25% * * as on previous day Government Securities Market 7.26% GS 2032 7.1279% # 6.54% GS 2032 7.1844% # 7.38% GS 2027 7.0363% # 5.74% GS 2026 6.9810% # 6.69% GS 2024 6.6613% # 4.56% GS 2023 6.3200% # 91 day T-bills 5.6287%* 182 day T-bills 6.0999%* 364 day T-bills 6.3378%* * cut-off at the last auction # as on end of previous working day Capital Market S&P BSE Sensex 59028.91 * Nifty 50 17624.40 * * as on previous day GDP (US$ million) by country Sr No Country/Territory UN Re- gion IMF Estimate Year World — 9,38,63,851 2021 1 United States Americas 2,53,46,805 2022 2 China Asia 1,99,11,593 2022 3 Japan Asia 49,12,147 2022 4 Germany Europe 42,56,540 2022 5 India Asia 35,34,743 2022 6 United Kingdom Europe 33,76,003 2022 7 France Europe 29,36,702 2022 8 Canada Americas 22,21,218 2022 9 Italy Europe 20,58,330 2022 10 Brazil Americas 18,33,274 2022 11 Russia Europe 18,29,050 2022 12 South Korea Asia 18,04,680 2022 13 Australia Oceania 17,48,334 2022 14 Iran Asia 17,39,012 2022 15 Spain Europe 14,35,560 2022 Latest Small Savings Schemes Rates Instrument Rates Compounding Frequency Savings Deposit 4 Annually 1 Year Time Deposit 5.5 Quarterly 2 Year Time Deposit 5.5 Quarterly 3 Year Time Deposit 5.5 Quarterly 5 Year Time Deposit 6.7 Quarterly 5 Year Recurring Deposit 5.8 Quarterly Senior Citizen Savings Scheme 7.4 Quarterly & paid Monthly Income Account 6.6 Monthly & paid National Savings Certificate 6.8 Annually PPF 7.1 Annually Kisan Vikas Patra 6.9 (Matures in 124 months) Annually Sukanya Samriddhi 7.6 Annually September 2022
  • 4. Samachaar Our Atmanirbhar Bharath has seen the raise of UPI payments in the recent few months. This digital platform is known for its most convenient mode of making and receiving money directly into bank account without even remembering the account number. The National Payments Corporation of India (NPCI), an umbrella organization for operating retail payments and settlement systems in India, conducted a pilot launch for UPI with 21 member banks. The pilot launch was started on 11th April 2016 by Dr. Raghuram G Rajan, Governor, RBI at Mumbai. The Covid-19 pandemic has ac- celerated the pace of digital payments with UPI becoming the biggest benefi- ciary. In the last 6 years alone, UPI trans- actions have skyrocketed, now exceeding $100 billion per month. For over 150 million monthly users, these transactions occur largely via mobile wallets and pay- ments applications. In fiscal 2022, the platform pro- cessed 45 billion transactions worth Rs.77.94 trillion. The next target for UPI is to process a billion transactions per day in the next 3-5 years. Notably, the global presence of UPI is apparent as countries like Bhutan and Nepal are already accepting UPI, and it is likely to go live in Singa- pore later this year. Further, merchants in Singapore, Cambodia, Malaysia, Thai- land, Philippines, Vietnam and Bhutan, accept UPI payments through QR-code payment systems common in Asia conti- nent. Also, Lyra Network – a French company, has announced that it would deploy UPI. This is the entrance of UPI into the European Union (EU) as an al- ternative payments system designed to be reliable, secure, and interoperable among other digital payment firms. Reported by—Bharthi Srinivasan UPI payments at all time High Liz Truss New Prime Minister – UK Liz Truss vows energy crisis action after becoming Britain's new PM Liz Truss took over as British prime minister on Tuesday, vowing im- mediate action to tackle one of the most daunting set of challenges for an incom- ing leader in post-War history led by soaring energy bills, a looming recession and industrial strife. “I am confident that together we can ride out the storm. We can rebuild our economy, and we can become the modern brilliant Britain that I know we can be." Truss, who will later announce her government appointments, said she had three priorities: growing the economy through tax cuts, dealing with rising en- ergy costs from this week, and ensuring people got the care they needed from the state-run National Health Service. However, she inherits an economy in crisis, with inflation at double digits, the cost of energy soaring and the Bank of England warning of a lengthy reces- sion by the end of this year. Already, workers across the economy have gone on strike. Her plan to revive growth through tax cuts, while also potentially providing around 100 billion pounds ($116 billion) for energy, has rattled financial markets, prompting investors to dump the pound and government bonds in recent weeks. Truss has also promised to scrap plans to increase corporation tax on big firms, and to reverse an increase in a pay- roll tax on workers and employers, de- signed to raise additional funding for health and social care, with the extra spending coming from general taxation. British 30-year government bonds suffered their sharpest one-day fall since March 2020 when the COVID-19 pan- demic caused turmoil in financial mar- kets, as investors honed in on the extra borrowing Truss's plans are likely to re- quire. Ten-year borrowing costs rose to their highest since 2011, but two-year yields fell, with economists noting that an energy price cap would stop inflation rising in the near term. "I will take action this day and action every day to make it happen. United with our allies, we will stand up for freedom and democracy around the world of rec- ognising that we can't have security at home without having security abroad.” Britain, under Conservative rule since 2010, has stumbled from crisis to crisis in recent years and there is now the prospect of a long energy emergency that could drain the savings of households and threaten the futures of businesses still weighed down by COVID-era loans. Household energy bills are due to jump by 80% in October, but a source familiar with the situation has told Reu- ters that Truss may freeze bills in a plan that could cost towards 100 billion pounds ($115.33 billion), surpassing the COVID-19 furlough scheme. The scale of the package, plus the fact the energy crisis could run for a cou- ple of years, has spooked investors. The pound has fared worse against the U.S. dollar than most other major currencies recently. In August alone sterling shed 4% against the greenback and it marked the worst month for 20-year British govern- ment bonds since around 1978, accord- ing to records from Refinitiv and the Bank of England. Britain's public finances also re- main weighed down by the government's huge coronavirus spending spree. Public debt as a share of economic output is not far off 100%, up from about 80% before the pandemic. Synopsis "I am confident that together we can ride out the storm. We can rebuild our economy, and we can become the modern brilliant Britain that I know we can be," Truss said, standing in front of Number 10 Downing Street. Reported by — Savita Pillai September 2022
  • 5. Samachaar India will be included in JPMorgan & Chase Co’s emerging mar- kets bond index (EMBI) expects Morgan Stanley What are the Indexes? A basket of securities (Nifty 50). In the bond market 3 types of indices 1. High yield Risky Bonds 2. Emerging Market Bonds 3. Government Bonds  Indices serve as bench mark or guide for investors, Pension Funds, Mutual Funds  Difficult for investors to track multiple global bond markets. This is where bond index helps.  Russia’s exclusion from GBI – EM.  Russia had 8% weight before be- ing removed  Now 7 countries with a weight of 10% each & 13 more countries sharing rest 30% weight  With Russia’s Exclusion the in- dex has become more concentrat- ed & Unbalanced  India’s inclusion with $ 1 trillion debt market is expected with 10% (max for 1 country) weight  Criteria for inclusion in Bond Indices 1.Liquidity 2.Safety 3.Return 4.Size of market 5.Sovereign Rating 6.Ease of Access J P Morgan insists Settlement of in- vestments on international clearing houses such as Euroclear  India ticks all boxes baring only one Tax Policy (does not allow settlement on Euroclear). Govern- ment unwilling to exempt foreign- ers from capital gain tax. Index could make 1 exception if all oth- er criteria matched.  Resolution expected on operation- al issues such as clearing on inter- national clearing houses  Positives 1.Massive dollar inflows from pas- sive investors 2.Steady Exchange Rate 3.Stronger foreign investors base Reported by—Ankur Shah India overtakes the UK as world’s fifth-largest economy On September 2, the International Monetary Fund (IMF) announced that India had surged past the United King- dom to become the fifth largest economy in the world. The latest change in rankings is based on quarterly gross domestic prod- uct (GDP) numbers in current dollars for the period ending December 2021. India increased its lead over the UK in the quarter ending March, IMF data showed “On an adjusted basis and using the dollar ex- change rate on the last day of the relevant quarter, the size of the Indian economy in ‘nominal’ cash terms in the quarter through March was $854.7 billion. On the same basis, UK was $816 billion,” stated the Bloomberg report. Reported by — Ajay Tyagi GDP (US$ million) by country Sr No Country/ Territory UN Re- gion IMF Estimate Year — 93,863,851 2021 World 1 United States Americas 25,346,805 2022 2 China Asia 19,911,593 2022 3 Japan Asia 4,912,147 2022 4 Germany Europe 4,256,540 2022 5 India Asia 3,534,743 2022 6 United Kingdom Europe 3,376,003 2022 7 France Europe 2,936,702 2022 8 Canada Americas 2,221,218 2022 9 Italy Europe 2,058,330 2022 10 Brazil Americas 1,833,274 2022 September 2022
  • 6. Samachaar India to have its own data protection bill soon India currently lacks a sound legislation for data protection. After five years in the making, the bill that was designed to protect the privacy of Indians, the Per- sonal Data Protection Bill 2019, was withdrawn by the government on Wednesday. The government assured to table a new bill soon. What is data Protection Bill India? The Bill aimed to provide protection of digital privacy to individuals relating to their personal data, specify the flow and usage of data, and create a relationship of trust between persons and entities pro- cessing the data.03-Aug-2022 What is covered in data privacy law? Data privacy laws specify how data should be collected, stored, and shared with third parties. The most widely discussed data privacy laws include: GDPR: The European Union's General Data Protection Regulation (GDPR) is the most com- prehensive data privacy law in effect. Who is responsible for data privacy? Today, there is no consensus on who is responsible for data privacy. Some con- sumers agree that the responsibility lies with them, but others think governments or businesses are better equipped to deal with this complex issue.08-Jan-2019 Reported by — Atul Jain Demat all Insurance Policies by Dec’22 says IRDAI What is dematerialisation of insurance policy? Dematerialisation means transforming physical documents into a modifiable online format. With dematerialisation or 'Demat', a policy holder can create a portfolio of insurance policies he has and store them in an electronic form with an insurance repository. What is Demat in policy? Dematerialisation or 'Demat' allows a policy holder to create a portfolio of insurance poli- cies and store them in an electronic form with an insurance repository. It has been introduced by IRDAI as a similar facility to the one avail- able for stocks. With this rule, policyholders can have only one e-Insurance Account with an insur- ance repository of their choice. From November 1, 2022 e-KYC will also become mandatory for all insurance poli- cies, which will further help in dematerialising insurance policies. The IRDAI has also proposed setting up a new platform for the sale, servicing, and claims of insurance policies, which will be operational from December 2022. What is the most important requirement for dematerialisa- tion? Dematerialisation starts with opening a Demat account. For Demat account opening, you need to shortlist a Repository that offers Demat services. Four Insurance Repositories 1. NSDL National Insurance Repository 2. CDSL Insurance Repository Ltd. 3. Karvy Insurance Repository Ltd. 4. CAMS Insurance Repository Services Ltd. The Insurance Repository Maintains the Electronic Insurance Account (eIA) of the in- sured person and all insurance policies (life/non-life/group). Can be stored and accessed through this facility. In the last few years, insurance repositories have helped in electronic issuance, storage, and services for over 10 million insured persons. There is huge responsibility on the fi- nancial professionals to assist all their custom- ers and clients in getting the policies Demat. It’s a golden opportunity to serve our custom- ers and be in line with the change. Reported by — Inderpal Singh Bindra Keep watching for more on Data Privacy Bill. This is very im- portant for Insurance Industry. September 2022
  • 7. National Pension Scheme National Pension Scheme (NPS) is a pension scheme run by government and regulated by PFRDA for individuals, gov- ernment employees, private firm employees, organized sec- tor and non-organized sector to accumulate required corpus to purchase annuity (pension) on retirement. It has certain benefits such as low-cost fund, certain tax benefits. It also offers flexibil- ity to choose & change your Pension Fund Manager (PFM). Accumulating corpus for retirement requires contribu- tion for long durations. The long durations savings/ investment require more inflation proofing compared to short duration goals. The choice of asset backed in- vestment options under NPS provide inflation proofing necessary for such a long duration goal though with some short time volatility. Post retirement one will need adequate guaranteed predictable monthly pension income which will remain inflation proof as long as one is alive. Providing for one’s retirement income is one of the most important real needs of any individual. But generally, people give importance to short term needs which are perceived needs and not the real need. One must give retirement goal as importance as to child education or protection of income or any other must have financial goal. Since the topic is NPS I will not go in to details of financial planning need for retirement but let’s discuss one of the best options NPS to accumulate corpus for retire- ment need. Let me explain in very simple steps how NPS works  Open NPS account (One can open online ENPS)  Chose tier 1 (only tier 1 offers tax benefit)  Choose your PFM (Pension Fund Manager)  Make investment choice (Auto/Active)  In case of Active choice chose asset allocation  Make initial contribution as low as Rs 500  Make contributions till age 60 (lock in period)  Your contributions over the year would have grown in sizable corpus  Utilize at least 40% of your corpus to purchase immediate annuity from any approved life insur- ance company at a prevailing rate at that time. Now let’s understand the features, technical details, Pension Fund Managers, Past returns of different schemes PFM wise, FAQs, Procedure to open online ENPS account. There or two types on NPS accounts Tier 1 & Tier 2, in this article I would be discussing Tier 1 only. Age limits 18 yrs to 70 yrs Who can open  Any individual citizen of India (both resident and Non-resident)  NRI can open an NPS account. Contributions made by NRI are subject to regulatory require- ments as prescribed by RBI and FEMA from time to time.  However, OCI (Overseas Citizens of India) and PIO (Person of Indian Origin) card holders and HUFs are not eligible for opening of NPS account. Minimum Contributions Tier 1 A. Minimum amount per contribution - Rs. 500 B. Minimum contribution per FY - Rs. 1,000 C. Minimum number of contributions in a FY - 1 Lock in Period Up to age 60 Max Maturity Age Age 75 Tax Benefit: On Contributions Any individual who is Subscriber of NPS can claim tax benefit under Sec 80 CCD (1) with in the overall ceiling of Rs. 1.5 lac under Sec 80 CCE. An additional deduction for investment up to Rs. 50,000 in NPS (Tier I account) is available exclusively to NPS subscribers under subsection 80CCD (1B). This is over and above the deduction of Rs. 1.5 lakh available under section 80C of Income Tax Act. 1961. Thus mak- ing it total Rs 2 lakhs. On withdrawal Up on the completion of age 60 max corpus that can be withdrawn is 60%. 40% of corpus withdrawn in tax free. Scheme Change Scheme can be changed max 4 times in a Financial Year & PFM can be changed 1 times in a FY
  • 8. National Pension Scheme List of Pension Fund Managers (PFM) 1. Birla Sunlife Pension Management Limited 2. HDFC Pension Management Company Limited 3. ICICI Prudential Pension Funds Mgmt. Co. Ltd. 4. Kotak Mahindra Pension Fund Limited 5. LIC Pension Fund Limited 6. SBI Pension Funds Private Limited 7. UTI Retirement Solutions Limited Types of Asset Class There are four Asset Classes (Equity, Corporate debt, Government Bonds and Alternative Investment Funds) from which the allocation is to be specified under single PFM. Choices for Investment (Refer to charts at the end of article)  Active  Auto  LC75  LC50  LC25 Subscription Limits for Active Choice among 4 asset classes E, C, G & A Subscriber can select multiple Asset Class under a single PFM as mentioned below:  Upto 50 years of age, the maximum permitted Equity Investment is 75% of the total asset allo- cation.  From 51 years and above, maximum permitted Equity Investment will be as per the equity allo- cation matrix provided below. The tapering off of equity allocation will be carried out as per the matrix on date of birth of Subscriber.  Percentage contribution value cannot exceed 5% for Alternative Investment Funds.  The total allocation across E, C, G and A asset classes must be equal to 100 Exit Options Upon Superannuation When a subscriber reaches the age of Superannuation/ attaining 60 years of age, he or she will have to use at least 40% of accumulated pension corpus to purchase an annuity that would provide a regular monthly pen- sion. The remaining funds can be withdrawn as lump sum. If the total accumulated pension corpus is less than or equal to Rs. 5 lakh, Subscriber can opt for 100% lump sum withdrawal. Pre-mature Exit In case of pre-mature exit (exit before attaining the age of superannuation/attaining 60 years of age) from NPS, at least 80% of the accumulated pension corpus of the Subscriber has to be utilized for purchase of an Annuity that would provide a regular monthly pension. The re- maining funds can be withdrawn as lump sum. Howev- er, you can exit from NPS only after completion of 5 years. If the total corpus is less than or equal to Rs. 2.5 lakh, Subscriber can opt for 100% lump sum withdrawal. Upon Death of Subscriber The entire accumulated pension corpus (100%) would be paid to the nominee/legal heir of the subscriber. Partial Withdrawal Following are the conditions of Conditional Withdrawal 1. Subscriber should be in NPS at least for 3 years 2. Withdrawal amount will not exceed 25% of the contributions made by the Subscriber 3. Withdrawal can happen maximum of three times during the entire tenure of subscription 4. Withdrawal is allowed only against the specified reasons, for example: I. Higher education of children II. Marriage of children III. For the purchase/construction of residen- tial house (in specified conditions) IV. For treatment of Critical Illness 1. Asset class E Equity and related instruments 2. Asset class C Corporate debt and related in- struments 3. Asset class G Government Bonds and related instruments 4. Asset Class A Alternative Investment Funds including instruments like CMBS, MBS, REITS, AIFs, Invlts etc
  • 9. National Pension Scheme Available options at age 60 Subscriber can decide to remain invested in NPS (Up to 75 years) or can exit from NPS. Following options are available to NPS Subscribers: Continuation of NPS account Subscriber can continue to contribute to NPS account beyond the age of 60 years/superannuation (Up to 75 years). This contribution beyond 60 is also eligible for exclusive tax benefits under NPS. Deferment (Annuity as well as Lump sum amount) Subscriber can defer Withdrawal and stay invested in NPS up to 75 years of age. Subscriber can defer only lump sum Withdrawal, defer only Annuity or defer both lump sum as well as Annuity. Start your Pension If Subscriber does not wish to continue/defer NPS ac- count, he/she can exit from NPS. He/she can initiate exit request online and asper NPS exit guidelines start receiving pension. Author— Mr. Ankur Shah Relevant Data of NPS Active Choice Equity Allocation Matrix Age in Years Max. Equity Allocation Upto 50 75.00 % 51 72.50 % 52 70.00 % 53 67.50 % 54 65.00 % 55 62.50 % 56 60.00 % 57 57.50 % 58 55.00 % 59 52.50 % 60 & above 50.00 % Auto Choice LC75 Age Asset Class E Asset Class C Asset Class G Up to 35 years 75 10 15 36 years 71 11 18 37 years 67 12 21 38 years 63 13 24 39 years 59 14 27 40 years 55 15 30 41 years 51 16 33 42 years 47 17 36 43 years 43 18 39 44 years 39 19 42 45 years 35 20 45 46 years 32 20 48 47 years 29 20 51 48 years 26 20 54 49 years 23 20 57 50 years 20 20 60 51 years 19 18 63 52 years 18 16 66 53 years 17 14 69 54 years 16 12 72 55 years & above 15 10 75
  • 10. Auto Choice LC50 Age Asset Class E Asset Class C Asset Class G Up to 35 years 50 30 20 36 years 48 29 23 37 years 46 28 26 38 years 44 27 29 39 years 42 26 32 40 years 40 25 35 41 years 38 24 38 42 years 36 23 41 43 years 34 22 44 44 years 32 21 47 45 years 30 20 50 46 years 28 19 53 47 years 26 18 56 48 years 24 17 59 49 years 22 16 62 50 years 20 15 65 51 years 18 14 68 52 years 16 13 71 53 years 14 12 74 54 years 12 11 77 55 years & above 10 10 80 Auto Choice LC25 Age Asset Class E Asset Class C Asset Class G Up to 35 years 25 45 30 36 years 24 43 33 37 years 23 41 36 38 years 22 39 39 39 years 21 37 42 40 years 20 35 45 41 years 19 33 48 42 years 18 31 51 43 years 17 29 54 44 years 16 27 57 45 years 15 25 60 46 years 14 23 63 47 years 13 21 66 48 years 12 19 69 49 years 11 17 72 50 years 10 15 75 51 years 9 13 78 52 years 8 11 81 53 years 7 9 84 54 years 6 7 87 55 years & above 5 5 90 Click here to know in detail for exit options Exit Options Click here to join ENPS Create ENPS Account online Click here for returns of NPS Schemes https://www.npstrust.org.in/return-of-nps-scheme
  • 11. SCHEME—C Tier 1 Pension Fund Inception Date AUM (Rs Crs) Subscrib- ers NAV Re- turns 1 Year Returns 3 Years Re- turns 5 Years Re- turns 7 Years Re- turns 10 Years Re- turns Incep- tion Birla Sun Life Pension 09-May-17 123.61 28,893 15.5538 3.27% 7.38% 7.79% NA NA 8.62% HDFC Pension 01-Aug-13 6786.41 12,79,422 23.0820 3.66% 7.76% 7.82% 8.79% NA 9.61% ICICI Pru. Pension 18-May-09 2686.26 5,00,459 34.8646 3.02% 7.00% 7.45% 8.56% 9.35% 9.83% Kotak Mahindra Pension 15-May-09 467.32 75,377 33.5642 3.05% 6.63% 6.65% 8.04% 8.86% 9.51% LIC Pension 23-Jul-13 17799.59 3,17,354 22.6812 3.26% 7.40% 7.39% 8.44% NA 9.38% SBI Pension Funds 15-May-09 5300.24 11,80,477 35.0436 3.02% 7.22% 7.47% 8.51% 9.15% 9.87% UTI Retirement 21-May-09 668.13 1,09,815 31.0285 2.80% 7.21% 6.98% 8.17% 8.90% 8.88% Tata Pension 19-Aug-22 1.17 624 10.0074 NA NA NA NA NA 1.29% 3.28% 8.03% 7.87% 8.84% 9.33% Benchmark Return as on 09.09.2022 SCHEME—G Tier 1 Pension Fund Inception Date AUM (Rs Crs) Subscrib- ers NAV Re- turns 1 Year Returns 3 Years Re- turns 5 Years Re- turns 7 Years Re- turns 10 Years Re- turns Incep- tion Birla Sun Life Pension 09-May-17 188.44 28,544 14.9364 2.89% 6.33% 7.13% NA NA 7.80% HDFC Pension 01-Aug-13 11210.68 12,73,250 22.2948 2.25% 6.35% 7.33% 8.50% NA 9.20% ICICI Pru. Pension 18-May-09 4658.00 4,95,762 29.8254 2.37% 6.01% 7.12% 8.38% 8.99% 8.55% Kotak Mahindra Pension 15-May-09 774.29 74,785 29.8089 2.82% 6.17% 7.18% 8.58% 8.94% 8.54% LIC Pension 23-Jul-13 3269.68 3,21,745 24.0893 2.63% 6.34% 7.86% 9.22% NA 10.10% SBI Pension Funds 15-May-09 11003.54 11,87,040 32.1986 2.29% 6.09% 7.16% 8.48% 8.88% 9.17% UTI Retirement 21-May-09 1212.99 1,06,883 28.7680 2.59% 5.96% 6.87% 8.09% 8.65% 8.26% Tata Pension 19-Aug-22 2.32 623 9.9855 NA NA NA NA NA -2.49% 2.07% 5.37% 6.51% 7.87% 8.41% Benchmark Return as on 09.09.2022 SCHEME—A Tier 1 Pension Fund Inception Date AUM (Rs Crs) Subscrib- ers NAV Re- turns 1 Year Returns 3 Years Re- turns 5 Years Re- turns 7 Years Re- turns 10 Years Re- turns Incep- tion Birla Sun Life Pension 15-May-17 2.38 2,632 14.2745 11.12% 6.75% 6.95% NA NA 6.91% HDFC Pension 10-Oct-16 116.48 1,15,415 16.7165 11.84% 9.39% 9.16% NA NA 9.07% ICICI Pru. Pension 21-Nov-16 24.71 27,583 15.4280 10.28% 7.34% 7.78% NA NA 7.76% Kotak Mahindra Pension 14-Oct-16 7.02 6,406 15.4131 8.51% 7.33% 7.95% NA NA 7.60% LIC Pension 13-Oct-16 9.47 16,672 15.5967 7.20% 7.48% 8.14% NA NA 7.81% SBI Pension Funds 13-Oct-16 45.17 66,907 17.5514 10.80% 11.6% 10.62% NA NA 9.99% UTI Retirement 14-Oct-16 6.79 7,242 14.8741 9.41% 6.90% 7.05% NA NA 6.95% Tata Pension 19-Aug-22 0.02 58 10.0156 NA NA NA NA NA 2.75% SCHEME—E Tier 1 Pension Fund Inception Date AUM (Rs Crs) Subscrib- ers NAV Re- turns 1 Year Returns 3 Years Re- turns 5 Years Re- turns 7 Years Re- turns 10 Years Re- turns Incep- tion Birla Sun Life Pension 09-May-17 270.63 29,123 19.1388 3.99% 17.73% 12.31% NA NA 12.93% HDFC Pension 01-Aug-13 15,647.02 12,98,533 35.7809 3.59% 18.92% 13.14% 13.92% NA 15.02% ICICI Pru. Pension 18-May-09 5,363.71 5,04,440 47.1972 3.75% 18.59% 12.90% 13.07% 13.84% 12.35% Kotak Mahindra Pension 15-May-09 1,007.28 76,622 43.8031 4.68% 18.74% 12.21% 13.28% 14.02% 11.72% LIC Pension 23-Jul-13 2,916.68 3,18,009 30.2965 5.15% 18.59% 11.89% 12.38% NA 12.90% SBI Pension Funds 15-May-09 9,638.31 11,88,321 39.1841 3.96% 17.23% 12.14% 12.76% 13.57% 10.79% UTI Retirement 21-May-09 1,385.70 1,11,159 46.3805 3.51% 18.21% 12.36% 13.10% 14.08% 12.22% Tata Pension 19-Aug-22 2.61 630 10.1036 NA NA NA NA NA 19.62% 6.08% 19.94% 13.76% 13.93% 14.24% Benchmark Return as on 09.09.2022