While the math suggests that opting for a higher pension is a good idea, it is important to make a choice based on factors that are personal to you. These factors include flexibility of a retirement plan, inheritance planning, and tax among other things. Most importantly, the deadline is approaching, so one must act fast.
Have you opted for higher pension under the Employee Pension Scheme or EPS? The deadline to opt for higher pension under EPS is June 26, 2023. Given that this deadline has been extended multiple times by the Employees’ Provident Fund Organisation (EPFO), this is perhaps the last window of opportunity to opt for higher pensions. Since your choice will have far-reaching consequences on your retirement planning, it is important to consider all
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