What is Retirement Planning? & Why is it necessary?

Retirement planning entails ensuring a stable flow of income after retirement. It means putting money away and investing it, particularly for that reason. Your retirement approach will be determined by your long-term objectives, income, and age.

Financial planning, on the other hand, is needed if you want to retire in luxury and dignity. Whatever your dream retirement looks like, whether it’s a relaxing time at home with family and friends or an adventure-filled trip around the world, you’ll need money. This is why retirement planning is necessary for an individual.

The Institute of Chartered Accountants of India (ICAI) is a statutory body established by an Act of Parliament, viz. The Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for regulating the profession of Chartered Accountancy in the country. The Institute, functions under the administrative control of the Ministry of Corporate Affairs, Government of India. The ICAI is the second largest professional body of Chartered Accountants in the world, with a strong tradition of service to the Indian economy in the public interest.

The affairs of the ICAI are managed by a Council in accordance with the provisions of the Chartered Accountants Act, 1949 and the Chartered Accountants Regulations, 1988. The Council constitutes of 40 members of whom 32 are elected by the Chartered Accountants and the remaining 8 are nominated by the Central Government generally representing the Comptroller and Auditor General of India, Securities and Exchange Board of India, Ministry of Corporate Affairs, Ministry of Finance, and other stakeholders.

Visit The ICAI Website

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