Retirement FundImage Credit source: File Photo
If you have not yet planned retirement fund and want to secure your future, then you should think about creating a retirement fund of crores of rupees so that you can save yourself and your children’s future. If you want to add a fund of crores of rupees for the future, then you can take advice from any of your financial advisors to invest in retirement plans from the initial stage to earn. Because there are many retirement plans available at present. You can secure your future by investing money in these four government retirement schemes.
Atal Pension Yojana
Any person in the age group of 18 to 40 years can invest in this retirement scheme. In Atal Pension Yojana, a person has to invest a small amount every month till the age of 60 years. After the age of 60, investors can avail pension ranging from Rs 1000 to Rs 5000 every month. The amount of their contribution is decided according to the amount of pension they want to get after retirement. To register in this scheme, it is very important to have a savings account, Aadhaar number and a mobile number.
Pradhan Mantri Vaya Vandana Yojana
Life Insurance Corporation of India provides Pradhan Mantri Vaya Vandana Yojana scheme to the investors. In this scheme, any senior citizen can invest up to a maximum of Rs 15 lakh and can get pension for 10 years. Pension money depends on the money invested. If someone invests Rs 15 lakh in this scheme, he will get Rs 9,250 as monthly pension for ten years.
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Senior Citizen Saving Scheme
Citizens who are 60 years of age or above can take advantage of the Senior Citizen Savings Scheme. Apart from this, those who take voluntary retirement between the age of 55 to 60 years can also invest in this scheme. A minimum of Rs 1000 and a maximum of Rs 15 lakh can be invested in this plan. New interest has been implemented in this scheme from January 1. At present, investors are getting interest at the rate of 8 percent. Interest is payable on the deposit amount on quarterly basis.
national pension system
NPS can be a great option to get pension every month. Most of the amount deposited in this scheme is invested in the market, so the investor gets an average return of 10%. Indian citizens in the age group of 18 to 70 years can apply for the scheme. To get pension one has to invest till the age of 60 years.
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If the account holder needs an emergency fund before retirement, he can withdraw 60% of the deposit, however, 40% is used as annuity. Higher the annuity amount, higher will be the pension.
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