If everyone worries the most about something during the job, it is his old age. The main reason for this is that the man does not want to work at that time. That’s why people are always very concerned about the returns of investments made for their old age. Let us know such schemes where by investing you can get away from the worry of old age.
LIC Saral Pension Plan: This is an annuity plan of Life Insurance Corporation. This scheme is for a person of 40 to 80 years. For this the minimum investment limit is 12 thousand rupees, in which monthly, quarterly, half yearly or annual contribution can be made, there is no maximum investment limit.
NPS (National Pension Scheme): NPS is the most popular, tax-friendly scheme that can be taken for a happy life after retirement. It has the facility of getting fixed pension. There is also a facility to withdraw money after completing the investment for three years. Withdrawals are allowed only up to 25% of the total deposits before maturity. Tax free withdrawal can also be done during house construction and other emergencies.
Atal Pension Yojana: This exclusive pension cum retirement scheme is available to all Indian citizens in the age group of 18 to 40 years. After the age of 60, the person will be allowed to withdraw 100% of his pension wealth. Under this scheme, the government contributes 50% of the subscriber’s contribution or Rs 1000 per annum, whichever is less.
Pradhan Mantri Vaya Vandana Yojana: Pradhan Mantri Vaya Vandana Yojana is for 10 years. It was earning 7.4 per cent interest in the last financial year which makes it an attractive scheme for senior citizens who want a regular income with assured returns. After three years of deposit, there is also a facility to take a loan equal to 75 percent of the amount. The maximum amount that can be deposited in this is Rs 15 lakh.
Senior Citizens Savings Scheme: The Senior Citizens Savings Scheme has a tenure of five years. It is currently giving returns at the rate of 7.4 per cent per annum. You can start with a minimum investment of Rs 1000 in this plan and the minimum investment tenure is five years. After that you can extend it for another three years. This scheme is available to all citizens above 60 years of age.
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