Retirement Planning: In today’s time where expenses are increasing rapidly, your earnings are not increasing at that speed. We are going to tell you about some such reliable schemes that will give you regular earnings even after retirement.
New Delhi: Retirement Planning: In today’s time where expenses are increasing rapidly, your earnings are not increasing at that pace. In such a situation, when you reach the last stage of your life i.e. retirement, will you have enough money to meet these expenses, because the biggest expense in old age is your medical needs, which increases with time.
In such a situation, there is a need for a scheme that keeps giving you regular monthly income even in old age, so that you do not depend on anyone and your expenses can also be fulfilled comfortably. So we are going to tell you about some such reliable schemes which will give you regular earnings every month.
1. Pradhan Mantri Vyandan Yojana
Pradhan Mantri Vaya Vandana Yojana: You can buy Pradhan Mantri Vaya Vandan Yojana (PMVVY) from the country’s largest insurance company Life Insurance Corporation (LIC). It gives you a pension for 10 years at a fixed rate, which is a very good scheme for the retired people. Any person whose age is 60 years or more, can invest in this scheme.
The scheme currently offers interest at 7.4% per annum, which is paid every month, its rates change every year. But once invested, the rates are fixed for the entire investment period. Death benefit is also available in this, after the death of the policyholder, the purchase price is returned to the money nominee.
This scheme was ended on 31 March 2020, but in view of its success, the Central Government has now extended it for 3 years to 31 March 2023.
2. Senior Citizen Savings Scheme
Senior Citizen Saving Scheme: Senior Citizens Savings Scheme, as the name suggests, is a scheme specifically designed keeping in mind the senior citizens for retirement. The scheme currently earns 7.4 per cent annual interest, which is given on a quarterly basis. Whatever investment is made in it usually matures in 5 years, if you wish, you can extend it even further for 3 years.
3. Post Office Monthly Income Scheme
Post Office Monthly Income Scheme: The Post Office Monthly Income Scheme is a Government Small Savings Scheme, which gives investors a chance to earn a fixed amount every month. Under this scheme, a lump sum is deposited in the account under a single or joint account. On this, the government pays 6.6% per annum. This scheme is 5 years, which can be extended for 5-5 years. This is a completely risk-free scheme as the government guarantees security. A maximum of Rs 4.5 lakh can be invested through a single count. If you have a joint account, you can invest a maximum of Rs 9 lakh. There can be a maximum of 3 adults in a joint account. But the maximum limit is 9 lakh rupees.
4. Government Securities
Government Securities i.e. G-Secs is also a safe investment vehicle, as it is a debt instrument. These securities are issued by both the central government and the state governments. On this scheme, you earn a regular interest on the investment. These securities are issued by the government, so there is no scope for risk in this. The government takes full guarantee of this.
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