NPS account: For the general public and the salaried class, the government brings such a scheme which removes the worries from financial planning to retirement. One such scheme is the National Pension Scheme, in which by putting a little money, you can collect a big fund till your retirement.
If you are 30 years old and want to accumulate a corpus of ₹ 1 crore by retirement, then you will have to invest at least ₹ 5000 every month. Similarly, if you invest continuously for 30 years, with an expected return of 10 percent, you will have accumulated a fund of Rs 1,13,96,627 on maturity after 30 years.
On this, 40% annuity will have to be compulsorily purchased, which will amount to ₹ 45,58,650, the annuity rate of which is 6 percent. The remaining 60% amount of ₹ 67,19,083 will be received in lump sum on maturity and the subscriber will get an annual pension of approximately ₹ 2,73,519 (₹ 22,793 monthly).
You can open an NPS account in the bank or post office in your or your wife’s name and choose the monthly or annual investment and pension amount as per your choice. You can invest a minimum of ₹ 1000 in the National Pension Scheme, in exchange for which a lump sum is received on maturity. Payment plus pension at a fixed rate every month
The good thing is that the National Pension Scheme is a social security scheme, where you just have to invest the money. The rest of the management will be taken care of by the professional fund manager.
National Pension Scheme is a social security scheme, where you just have to invest money. The remaining management will be looked after by professional fund managers selected by the Central Government.
National Pension Scheme is a market linked scheme but as per the data of last year, it has given an estimated return of 10-12 percent to the subscribers with guaranteed security.
