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Ans: Congratulations on taking the step towards voluntary retirement! With your pension providing a steady monthly income, investing your retirement corpus wisely can help ensure a comfortable and secure future.

Given your age and the desire for a stable investment, consider a mix of both equity and debt instruments to balance growth and safety. Here's a suggested allocation:

Emergency Fund: Ensure you have 6-12 months of living expenses in a liquid fund or a high-yield savings account for unforeseen expenses.
Fixed Deposits: Consider allocating a portion, say 30-40%, in fixed deposits or short-term debt funds. These provide stability and predictable returns.
Debt Funds: For another 30-40% of your corpus, consider investing in diversified debt funds or corporate bond funds. They offer better returns than FDs with moderate risk.
Equity Mutual Funds: With the remaining 20-30%, you can consider investing in balanced funds or hybrid equity funds. These funds provide exposure to equity markets while also having a debt component to reduce volatility.
Pension Plans: Given your pensionable age, consider investing a small portion in an immediate annuity plan or a pension scheme to further secure your monthly income.
Remember, the key is diversification and periodic review. As you move forward in your retirement journey, it might be beneficial to consult with a financial advisor to tailor this strategy further to your needs and goals.

Ans: Unless contribution to GPF per year is more than 5 lacs, interest is not taxable. Further, with reference to amount received commutation of pension (EPF) is also not taxable unless it is withdrawn before 5 years of service and on the receipt of gratuity, tax exemption is required to be calculated with proper formula with number of years of employment (upto 20 lacs)

Ans: I don't think I am qualified to answer your question. You can take a second opinion from another spine surgeon.