Avoid relying on a bank RM for investment advice. Instead, approach a Sebi-registered investment advisor whose livelihood depends on the fee paid by his customers and not on product commissions.
Be wary of co-operative banks which have historically been most vulnerable.
Remember, pension from EPS will be taxable at slab rate, reducing the post-tax income for people who remain in the higher tax brackets after retirement.
Given its features as a retirement product (long lock-in and compulsory annuitisation), investors should have other investments they can fall back on in case they need funds
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