Every person in life wants to secure their future after retirement. For this, several types of investments are available which you can avail. Among them is the National Pension System (NPS), which can get you a pension of Rs 50,000 every month after the age of 60 years. Let us tell you which is this pension scheme of the government.
National Pension System is one such scheme, through which you can remain self-sufficient in money matters even in old age. This is a scheme of the government, which gives more than 10 percent return. It is one of those schemes that give a huge return with less risk.
Earlier, this scheme was available only for government employees. However, the government has now made it open to all the people. Any Indian citizen can take advantage of this new pension system by following some important conditions. Even if you are coming under the purview of income tax deduction, you can avoid tax by taking this scheme.
In the NPS, you are required to invest every month. You can decide how much this amount should be and after that, the amount is automatically deducted from your bank account every month.
Suppose you or your spouse is 35 years old and you want that after attaining the age of 60, you or your spouse should get a pension of Rs 50,000 monthly. In such a situation, you will have to invest Rs 15,000 every month in this scheme. You have to deposit this amount till the age of 60 years. In this way, in 25 years, you will have to deposit Rs 45 lakh in this scheme. After completing 60 years of age, your maturity amount will be around Rs 2 crore. Out of this, you will get 50 percent i.e. about Rs 1 crore in a lump sum and the remaining amount of Rs 1 crore can be availed every month as pension.
If at that time, the rate of the annuity is 6 percent, you will get a pension of about Rs 50,000 every month. In the event of the death of the scheme holder, his/her nominee will be given the remaining amount in a lump sum. In view of the COVID-19 pandemic and the uncertain environment, people are showing great interest in such a scheme.
