Divide your retirement budget into two categories. First, your non-negotiable expenses: groceries, utilities, insurance premiums, and basic health care. “This should be 40% to 50% of your monthly needs, funded entirely by safe, fixed income instruments. Your Employee Provident Fund (EPF) and the PPF lump sum amount can be deployed in Senior Citizens Savings Scheme, Post Office Schemes and loan funds,” Jethwani said.