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Preparing for Retirement

Preparing for Retirement

 

1.    Please check if your PPO contains an endorsement giving the name and age of the spouse and details of ordinary family pension.

  The PPO may contain endorsement of the name of the spouse as family pensioner but the age of spouse may not be recorded either in the PPO or in any other document in your pension folder maintained by your Pension Disbursing Agency (PDA).

2.       Bank Account

3.       Open a joint account in the name of yourself and your spouse.  

4.       Make sure that the nominations/ conversions into joint account.

5.       Check your Nominations for :- - Bank Accounts - Fixed Deposits, NSC - Bank Lockers -  

          Demat Accounts - Insurance (Life, Bike or Car or Property) - Investments - PF &

          Pension Forms Passwords

6.    We have passwords for practically everything. Email accounts, Bank accounts; even for the laptop you use

7.       Every year, for tax purposes, we do investments. Do we maintain a excel sheet about

          it.

8.       When you take a loan say for your house or car, check out on all the what ifs.... .what if I am not there tomorrow? what if I lose my job? Will the EMI still be within my range? If not, get an insurance on the loan. The people left behind will not have to worry on something as basic as their own house.

9.        MASTER FOLDER FOR SPOUSE/ FAMILY MEMBERS

10.   Will.  It is always advisable to execute a will. No particular form is prescribed by law.

11.   Place the following in separate envelopes with the details of the contents written on the envelopes and place the envelopes in the master folder. 

12.   Make out the letter of intimation in required number of copies, including some spare copies, to be completed by filling in the blanks, signed and sent by the spouse when the time comes.

13.   Decide on the timing and venue of funeral.