How should you allocate your retirement funds for old age?
The minimum contribution to NPS is ₹1,000 per financial year. You should evaluate your asset allocation and fund managers annually as well, to see if it meets your risk tolerance and performance parameters
My father will be retiring in six months. He has accumulated a corpus of close to ₹5 crore and wants to invest in instruments that are not risky so he can live off the interest accumulated. He has, among other investments, put in ₹15 lakh in SCSS (senior citizen savings scheme). His mutual fund (MF) allocations include ₹2 crore in short term funds, ₹1 crore in floating rate funds, ₹50 lakh in balanced advantage funds, ₹25 lakh in overseas MFs, and ₹25 lakh each in conservative hybrid funds and liquid funds.