Winning Bizness Desk
Mumbai. Most people fail to understand the importance of the forward planning of retirement and repent after their superannuation. Possibly due to the lack of knowledge about the various schemes available in the market and thus losing the chance of a happy retirement life. Winning Bizness tells you here about such various schemes that if applied, any retired person can get upto Rs 1 lakh per month.
NPS is a great option for retirement
As retirement age approaches, people become concerned about investments. In such a situation, You can invest in the National Pension System (NPS) for 70 years. However, if you start investing in it early, you get more profit. The National Pension Scheme was launched on 1 January 2004. It was opened for private sector employees in 2009. The Central Government has launched the National Pension Scheme, under which a person can get a pension of up to one lakh rupees per month. Government employees, private sector employees or anyone else can invest in it. Citizens between 18 to 70 years can invest under NPS.
Know more about National Pension Scheme
National Pension Scheme is a voluntary and long term investment scheme. It is a social security initiative of the central government. Non-Resident Indians can also invest in this pension scheme. Contributions have to be made up to 60 years from account opening or up to 20 years maturity period. The higher the contribution, the higher the pension. The average return in this scheme can be 9 percent to 12 percent.
How much should be invested for one lakh?
If you invest Rs 10,000 per month for 30 years with a monthly pension of Rs 1 lakh, you will get a lump sum of around Rs 1 crore after retirement. Equity exposure in this scheme is 50 to 75 percent.
Tax benefits
If you are planning to invest in this scheme, you will also get the benefit of tax savings. You can save tax up to Rs 50 thousand under section 80CCD (1) and up to Rs 1.5 lakh under section 80C. Government employees, private sector employees or anyone else can invest in NPH scheme.
