We at Paytm have always tried to create an ecosystem where every Paytmers truly belongs, even after their retirements. Together with HDFC Pension, we have extended our support to Paytmers with a pension plan that will create a retirement corpus for their future and will also help them to save their taxes.
The National Pension System (NPS) is a pension scheme, introduced by the Government of India, will help our employees create a retirement corpus for their future needs. All our employees can continue with this pension plan till the age of 60 years.
Under this, Paytmers can make systematic contributions in a profitable avenue that will provide them market-linked returns and a regular income post-retirement life. They can withdraw up to 60% of the accumulated corpus at the age of their retirement. The remaining corpus can be converted into an annuity, and can be used as a regular pension income.
With this, it also provides an auto-rebalancing option to Paytmers. They can rebalance their portfolio every year. Based on the Paytmer’s age, the policy will automatically rebalance by shifting allocation from equity to debt as they grow older.
Additionally, Paytmers can claim tax deduction up to 10 percent of their gross income under Section 80 CCD (1) within the overall ceiling of Rs 1.5 lakh under Section 80 CCE. They can also avail tax benefits under Section 80 CCD(1B) by extra deduction of up to Rs 50,000.
By bringing this policy, it is our way to reiterate our commitment to our employees’ wellbeing and extend our contributions to their lives. We hope this small step will be of great help and assistance to our Paytm family members in the unfortunate event.
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