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Why in the news? The General Provident Fund (GPF) highlights its benefits, flexibility, and role in ensuring financial security for government employees, as its features are being revisited for enhanced awareness. About General Provident Fund (GPF): The General Provident Fund (GPF) is a retirement savings scheme launched in 1960 exclusively for government employees in India. …
Read MoreRelevance: GS – 2 – Important aspects of Governance, Transparency and accountability Why in the news? The global revolution in welfare underscores the importance of strong social support systems. India’s proposed Unified pension scheme should ensure adequate financial support for retirees. A robust welfare system is needed to safeguard the welfare of retirees under the …
Read MoreSyllabus: GS 3: Indian Economy and Issues Investments and effects on Growth. Focus: The Systematic Withdrawal Plan (SWP) is gaining attention as a flexible investment tool for retirees to manage inflation, generate regular income, and minimize risks, offering a tax-efficient alternative to traditional fixed deposits. Overview of Systematic Withdrawal Plans (SWP) Definition: A Systematic Withdrawal …
Read MoreSyllabus: GS 2: Government Policies and interventions. Welfare schemes for the vulnerable section of the population. Focus: Government has cleared the new Unified Pension Scheme to substitute the National Pension System for the central employees on 1st April of 2025. This new scheme intends to give a clearer pension planning for civil servants and will …
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