Retirement Strategies and Reverse Mortgage

The video tutorial covers various retirement strategies, including Public Provident Fund (PPF), Employee Provident Fund (EPF), gratuity, and the National Pension System (NPS). It explains the benefits, tax implications, and withdrawal conditions of these investment options. Additionally, it discusses the Short Service Commission benefits for armed forces personnel. The tutorial also introduces reverse mortgage, a financial arrangement for senior citizens to access home equity without selling their homes, providing a steady income stream.

What is the maximum amount you can invest in a PPF account in a financial year?

• Rupees 1,00,000

• Rupees 2,00,000

• Rupees 50,000

• Rupees 1,50,000

Which of the following is true about EPF contributions?

• Only the employer contributes to the EPF.

• Neither employee nor employer contributes to the EPF.

• Only the employee contributes to the EPF.

• Both employee and employer contribute to the EPF.

Under what condition can an employee receive gratuity?

• After serving continuously for 3 years

• After serving continuously for 5 years

• After serving continuously for 7 years

• After serving continuously for 10 years

What is the age range for Indian citizens to participate in the National Pension System (NPS)?

• 18 to 80 years

• 18 to 70 years

• 18 to 60 years

• 18 to 50 years

Which of the following is a feature of the Short Service Commission Benefits?

• No benefits are provided.

• Both pension and gratuity benefits are provided.

• Only gratuity benefits are provided.

• Only pension benefits are provided.

What is a reverse mortgage primarily designed for?

• Young professionals to buy a new home

• Senior citizens to access home equity without selling

• Investors to purchase multiple properties

• Middle-aged individuals to refinance their mortgage

How is the repayment of a reverse mortgage typically handled?

• By refinancing the loan

• By selling the home or through the borrower's estate

• Through monthly payments by the homeowner

• By transferring the loan to another property