Sunday, January 21, 2024

Check Out The Changes Under The New Regulations Regarding NPS Withdrawals, Effective From February 1st




New Delhi: The National Pension System (NPS) will accept pension withdrawals under new criteria proposed by the Pension Fund Regulatory and Development Authority (PFRDA), which will go into effect on February 1, 2024. The terms under which members may want to withdraw a portion of their pension funds are outlined in these rules.


Withdrawal Limitations


Stakeholders may withdraw up to 25% of their contributions—less the employer's share—from their pension funds, following the revised regulations. Nevertheless, there are some requirements and goals associated with this partial withdrawal. (Also Read: APY: In 42 Years, A Monthly Contribution Of Rs 210 Can Get A Monthly Pension Of Rs 5,000)


Permissible Partial Withdrawals

The amended regulations permit partial withdrawals for a number of purposes, such as the subscriber's children's higher education costs, marriage expenses, the purchase or construction of residential real estate, medical costs associated with specific illnesses, expenses related to disabilities, skill development, reskilling, and the formation of a business or startup. (Also Read: Ramesh Babu, the "billionaire barber," An Inspirational Journey From Simple Beginnings To A Fleet Of 400 Cars.)

Prerequisites For Withdrawals

Partial withdrawals are only available to subscribers who have been NPS members for three years or longer from their membership date. There is a maximum of three partial withdrawals allowed per subscriber throughout the duration of their membership, with the withdrawal amount being restricted at one-fourth of their total contributions.

Processing Withdrawal Requests

Subscribers must contact their respective government nodal office or point of presence to initiate a withdrawal by submitting a request to the central recordkeeping agency (CRA) together with a self-declaration outlining the reason for the withdrawal.



Wednesday, January 17, 2024

Cracking the Code of Successful Networking: Building Meaningful Connections


In our interconnected world, the ability to network effectively is a skill that can open doors, create opportunities, and propel your personal and professional life to new heights. But how do you go beyond the surface-level exchange of business cards and truly build meaningful connections that stand the test of time? Let's dive into the art of networking and discover the code to cultivating relationships that matter.

1. Start with Authenticity

Successful networking begins with authenticity. Be genuine, transparent, and true to yourself. People connect with authenticity, and it forms the foundation for lasting relationships. Share your passions, interests, and experiences, allowing others to see the real you.

2. Listen More, Talk Less

One of the keys to building meaningful connections is active listening. Instead of focusing on what you're going to say next, truly engage with the person in front of you. Ask open-ended questions, show genuine interest, and listen attentively. This not only builds rapport but also helps you understand the other person's needs and aspirations.

3. Find Common Ground

Seeking common ground is a powerful way to connect with others. Whether it's shared hobbies, similar career paths, or common goals, identifying areas of overlap creates a sense of camaraderie. These shared interests become the building blocks of a strong and enduring connection.

4. Give Before You Receive

Networking isn't just about what you can gain; it's equally about what you can contribute. Be generous with your time, knowledge, and resources. Whether it's offering assistance, sharing valuable insights, or making introductions, giving back fosters a sense of reciprocity and strengthens the bonds you form.

5. Leverage Digital Platforms

In our digital age, networking extends beyond face-to-face interactions. Utilize social media platforms like LinkedIn to connect with professionals in your industry. Join relevant groups, participate in discussions, and share valuable content. The online space offers an expansive network waiting to be tapped into.

6. Attend Networking Events with Purpose

When attending networking events, go beyond collecting business cards. Set specific goals for each event, such as making three meaningful connections or learning about a new industry trend. Approach conversations with curiosity and a genuine desire to understand the other person's journey.

7. Follow Up and Nurture Relationships

Building connections doesn't end after the initial meeting. Follow up with a personalized message expressing your gratitude for the connection. Nurture relationships by staying in touch, sharing relevant information, and offering your support when needed. Consistent communication is the key to transforming acquaintances into allies.

8. Be Open to Diverse Perspectives

Embrace diversity in your network. Connect with people from different backgrounds, industries, and experiences. Exposure to diverse perspectives not only enriches your understanding but also opens doors to new opportunities and ideas.

9. Develop Your Elevator Pitch

Craft a compelling elevator pitch that succinctly communicates who you are, what you do, and what makes you unique. Having a well-crafted pitch ensures you leave a lasting impression and makes it easier for others to remember and refer you.

10. Stay Committed to Continuous Improvement

Networking is a skill that can be honed over time. Stay committed to continuous improvement by seeking feedback, learning from your experiences, and adapting your approach. The more you invest in refining your networking skills, the more meaningful and impactful your connections will become.

In conclusion, cracking the code of successful networking involves a combination of authenticity, active listening, generosity, and continuous improvement. By approaching networking as an opportunity to build meaningful connections, you'll find that the doors to success swing open more readily, and your network becomes a powerful asset in both your personal and professional journey.

Check Out The Changes Under The New Regulations Regarding NPS Withdrawals, Effective From February 1st

New Delhi : The National Pension System (NPS) will accept pension withdrawals under new criteria proposed by the Pension Fund Regulatory and...