Financial plan for aged: What is Mutual Fund–Voluntary Retirement Account, modelled on US 401(k)? All you need to know

With India’s aging population, AMFI proposes the Mutual Fund–Voluntary Retirement Account (MF-VRA), inspired by the US 401(k), to bolster retirement savings. This employer-linked scheme, managed by mutual funds, aims to offer tax incentives, portability, and flexibility. AMFI seeks regulatory support to establish product structures and ensure the scheme’s success in promoting a retirement savings culture.