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FAQs

Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.

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Second paragraph125 words

FAQs

Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.

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Retire Grand with Flexi Benefits

Guaranteed Lifelong Income Limited premium payment term Multiple annuity options Option to defer the annuity payments

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Retire Grand with Flexi Benefits

Guaranteed Lifelong Income Limited premium payment term Multiple annuity options Option to defer the annuity payments

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Save, Dream, Plan. Live Peacefully

Option to choose premium payment term Get Tax benefits

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Save, Dream, Plan. Live Peacefully

Option to choose premium payment term Get Tax benefits

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Popular Searches

Retirement Calculator Best Retirement Plan Senior Citizen Card Saral Pension Plan NPS Withdrawal Pension4Life Plan Retirement Planning 5 Retirement Tips National Pension Scheme NPS Pension Calculator

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Popular Searches

Retirement Calculator Best Retirement Plan Senior Citizen Card Saral Pension Plan NPS Withdrawal Pension4Life Plan Retirement Planning 5 Retirement Tips National Pension Scheme NPS Pension Calculator

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Popular Searches

Types of Pension Plan Guaranteed Pension Plan Is Pension Taxable How to Check Old Age Pension Status Benefits of Pension Plan How GST Applies to Pension Plan?

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Popular Searches

Types of Pension Plan Guaranteed Pension Plan Is Pension Taxable How to Check Old Age Pension Status Benefits of Pension Plan How GST Applies to Pension Plan?

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Popular Searches

Tax Planning for Retirement Types of Retirement Plans Guaranteed Pension Plans Retirement Income Plans

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Popular Searches

Tax Planning for Retirement Types of Retirement Plans Guaranteed Pension Plans Retirement Income Plans

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Fixed Returns, Zero Risks & Worries

4 Plan options Life cover + Guaranteed benefits Accidental death benefit Premium protection cover

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Fixed Returns, Zero Risks & Worries

4 Plan options Life cover + Guaranteed benefits Accidental death benefit Premium protection cover

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Retirement - Top Selling Plans

We bring you a collection of popular Canara HSBC life insurance plans. Forget the dusty brochures and endless offline visits! Dive into the features of our top-selling online insurance plans and buy the one that meets your goals and requirements. You and your wallet will be thankful in the future as we brighten up your financial future with these plans.

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Retirement - Top Selling Plans

We bring you a collection of popular Canara HSBC life insurance plans. Forget the dusty brochures and endless offline visits! Dive into the features of our top-selling online insurance plans and buy the one that meets your goals and requirements. You and your wallet will be thankful in the future as we brighten up your financial future with these plans.

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What is the EPS Pension Scheme?

Employee contribution to EPF: 12% of salary Employer contribution to EPF: 12% of salary Out of the employer share , 8.33% goes to EPS (subject to wage ceiling)

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What is the EPS-95 Pension Scheme?

The Employees’ Pension Scheme, 1995 ( EPS-95 ) is a social security initiative under the EPFO designed to provide lifelong pension support to employees in the private sector after retirement. Both you and your employer contribute 12% of your basic salary and dearness allowance to EPF. Out of this, 8.33% of the employer’s contribution goes into EPS.

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What is the EPS Pension Scheme?

The Employees’ Pension Scheme (EPS) was introduced in 1995 by the Employees’ Provident Fund Organisation (EPFO). It aims to provide a regular monthly pension to employees after retirement. Under the EPF system, both employees and employers contribute towards the provident fund. Out of the employer’s contribution, a portion is diverted to the EPS account. Here is how the contribution works:

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What is the EPS-95 Pension Scheme?

The Employees’ Pension Scheme, 1995 ( EPS-95 ) is a social security initiative under the EPFO designed to provide lifelong pension support to employees in the private sector after retirement. Both you and your employer contribute 12% of your basic salary and dearness allowance to EPF. Out of this, 8.33% of the employer’s contribution goes into EPS.

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Conclusion

The pension amount depends mainly on two factors: pensionable salary and pensionable service. Using the formula (Pensionable Salary × Pensionable Service) ÷ 70, EPFO calculates the monthly pension payable after retirement.

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What is the EPS-95 Pension Scheme?

You can start receiving pension benefits after completing 10 years of service and attaining age 58. The pension amount depends on your pensionable salary and pensionable service, meaning that longer service and a higher salary base result in better payouts.