Retirement Scheme: If you want to save a huge amount of money till retirement and fulfill all your dreams, then some government schemes can fulfill your wish. Besides, this scheme will also provide you with regular income in old age. By investing money in these schemes, you can earn every month sitting at home.
These five Retirement Schemes will fulfill your every wish!
EPFO Pension Scheme:
If you are looking to build a substantial retirement fund and turn your dreams into reality, government schemes can help you achieve your financial goals. One such scheme is the EPFO Pension Scheme, which caters to salaried employees by providing a sizable fund for retirement. Additionally, both employees and employers contribute to the PF account, with the government offering annual interest. Participants who invest in this scheme for a minimum of 10 years become eligible to receive a pension based on their contributions.
National Pension System:
The National Pension System (NPS) is another government scheme that offers individuals the opportunity to secure a monthly income post-retirement. With NPS being a market-linked scheme, participants can potentially earn an average return of up to 10%. Individuals between the ages of 18 to 70 can invest in this scheme, and upon reaching 60 years of age, they become eligible to receive a pension. At maturity, 60% of the total amount can be withdrawn, while the remaining 40% can be utilized as an annuity.
Atal Pension Yojana:
For a guaranteed monthly income during retirement, the Atal Pension Yojana is a government initiative worth considering. Individuals aged 18 to 40 can make contributions to this scheme and receive a pension ranging from Rs 1000 to Rs 5000 upon reaching 60 years of age, based on their contributions.
Monthly Income Scheme:
The Post Office Monthly Income Scheme is another avenue for earning a consistent monthly income. Participants can open a joint account under this scheme, with a maximum annual investment limit of Rs 9 lakh. Joint account holders can deposit up to Rs 15 lakh in total for a five-year period, earning an interest rate of 7.4% and potentially earning up to Rs 10,000 per month.
Mutual Fund SIP:
Investors can also explore the possibility of building wealth in the long term through Mutual Fund Systematic Investment Plans (SIP). By investing regularly in recommended funds, individuals can aim for an average return of 12 to 15% over an extended period, as advised by market experts.
By leveraging these government retirement schemes, individuals can secure their financial future and enjoy a comfortable retirement with a steady income stream. Start planning today to reap the benefits tomorrow.
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