If you have an EPF (Employees’ Provident Fund) account, a portion of your EPF deposits will be credited to the Employee Pension Scheme (EPS) account. The EPS account the part of Employees’ Provident Fund (EPF) that operates a pension scheme aimed to provide retired EPF subscribers with financial support, as well as financial security so that they can live their golden years without financial stress. That said, when it comes to EPS there’s a term that often confuses many subscribers. So, a most common question that arises is, “What is PPO?”. If you have come across the term Pension Payment Order or PPO in short, a few times but didn’t quite understand the concept, read on to know more about its importance in retirement planning.

According to an HSBC study titled ‘The Future of Retirement Healthy New Beginnings’, 61% of the working population in India, aged 45 years and above, would prefer retiring in the next 5 years. However, 14% of them believe they will be unable to do so due to various reasons – ‘financial security’ being one of them.

If this sounds familiar, you are probably making one of these mistakes:

We make several decisions in life that have a substantial impact, maybe sooner or in the later years. We take carefully calculated investment decisions regarding our family's needs but may forget to prioritize their post-retirement requirements. It is essential to consider the benefits of retirement planning at the right time in life to secure your future. Let’s know about the benefits of retirement plan and more in this blog.

Retirement planning is an essential part of a sound financial plan, especially at a younger age. When you begin preparing for your future earlier, there is sufficient time to tackle any unprecedented challenges and live comfortably in the meantime. Many reasons add up to the importance of retirement planning in life.

First, let us understand what is retirement planning to have a better idea of the necessary steps to take.

Retirement is a time when you can finally relax and fulfil the long-awaited dreams. But it can also be a challenging time if you are unprepared for it. Hence, it is in your best interest to understand what is pension and its importance at an early stage in life. Doing so will give you more time to start planning for your retirement.

Let’s learn more about pension and its features & benefits, in this article.