National Pension System key benefits: You can open an NPS account in your wife’s name. You can deposit money every month or annually at your convenience.
National Pension System: Most of the working people invest for the future of their family, but still the expenses are not fulfilled. There is such a scheme of Modi government, by which your wife can also make income. In this scheme, by opening an account in the wife’s name, you can make them self-sufficient. The government scheme will have a guaranteed economy and the wife will not be dependent on anyone in the future.
You can open a New Pension Scheme (NPS) account in your wife’s name. NPS account will give a lump sum amount to your wife on completion of 60 years of age. Along with this, they will also have regular income in the form of pension every month. With an NPS account you can also decide how much pension your wife will get every month. With this, your wife will not be dependent on anyone for money after the age of 60 years.
Open NPS account
You can open a new pension system account in your wife’s name. You can deposit money every month or annually at your convenience. You can open an NPS account in the name of a wife from Rs 1,000. At the age of 60, the NPS account becomes mature. According to the new rules, if you want to keep running the NPS account till the age of the wife is 65 years.
A fund of ₹ 1.14 crore will be prepared every month for investment of 5000
Understand by example – your wife’s age is 30 years and you invest 5000 rupees every month in their NPS account. If they get an annual return of 10% on investment, then at the age of 60, they will have a total of 1.12 crore rupees in their account. They will get about 45 lakh rupees from it. Apart from this, they will get a pension of around 45,000 rupees every month. They will continue to get this pension for life.
How much will be the lump sum and how much pension
– Age – 30 years
– Total investment duration – 30 years
– Monthly contribution – Rs 5,000
– Estimated Return on Investment – 10%
– Total pension funds can be withdrawn at maturity of Rs.1,11,98,471.
– 44,79,388 Rupees to purchase annuity plan.
– An estimated annuity rate of Rs 67,19,083 8 per cent
– Monthly pension – Rs 44,793.
Fund managers do account management
The Nation Pension system is the social security scheme of the central government. The money you invest in this scheme is managed by a professional fund manager. The central government gives responsibility to these professional fund managers. In such a situation, your investment in NPS is completely safe. However, the money you invest under this scheme does not guarantee returns. According to the Financial Planners, the NPS has given an average annual return of 10 to 11 per cent since inception.
