Returns offered on these policies are low because the mandate is to invest only in fixed-income securities

Retirement planning involves ensuring sufficient financial corpus for old age, as well as adequate cash flow, risk coverage, and liquidity.

The National Pension System (NPS) offers retirees the systematic lump-sum withdrawal (SLW) facility, which allows them to earn regular monthly income while ensuring capital growth.

With a Systematic Withdrawal Plan (SWP),the investor can choose the amount and time of withdrawal—monthly, quarterly or yearly, providing flexibility and ease.

Individual responsibility towards financial planning extends beyond personal gain to contribute to the well-being of the family, society, and the nation, says Bagchi. 

Financial planning for retirement is as important as it is for any other goal.

Debt mutual funds hold a significant value to a retirement portfolio as they ensure regular, predictable income for the investors.

Retirement is the next big phase of your life; as such, you will need to plan carefully to ensure regular cash flow and a corpus that can outlast you

Senior Citizens Savings Scheme (SCSS) provides guaranteed returns to individuals aged 60 and above. The scheme currently offers 8.2 per cent interest.

Retirement planning is a continuous exercise that may include buying a house, insurance, investment, cash flow, etc. However, you must consciously avoid these three mistakes