Retirement Planning and Pension Schemes Quiz
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Questions and Answers

What is the purpose of a pension plan?

  • To offer short-term investment opportunities
  • To guarantee a luxurious lifestyle during working years
  • To encourage spending during retirement
  • To provide financial security and stability during old age (correct)

    • What does the National Pension System in India aim to provide?

  • Social security to more citizens (correct)
  • Free healthcare to retirees
  • Guaranteed employment for the youth
  • Tax exemptions for working individuals

    • What is the expected increase in the world's life expectancy by 2050?

  • 75 years (correct)
  • 70 years
  • 85 years
  • 80 years

    • What does the text suggest about the impact of better health and sanitation conditions in India?

    <p>Increased life span</p> Signup and view all the answers

    Why is retirement planning considered essential according to the text?

    <p>Rising cost of living, inflation and increased life expectancy</p> Signup and view all the answers

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