Retirement Planning: These 5 schemes will provide regular income in old age..


Nowadays people are very alert about their future. For this reason, along with their current life, they also do retirement planning in time, so that in old age, when their physical capabilities diminish, they can survive with the money saved. But one worry still haunts people and that is how will they get regular income in old age. If you are also worried about this, then do not worry now because many such schemes can help you earn money sitting at home.


Employee Pension Scheme
First of all, let's talk about EPFO. If you are employed and contribute to EPFO every month, then you would be aware of the facility of EPS (Employee Pension Scheme). EPFO runs this pension scheme for the social security of private sector employees after their retirement. If you have contributed to EPS for 10 consecutive years then you become entitled to get a pension from EPFO. This pension is received at the age of retirement and depends on the amount of your contribution.

Atal Pension Yojana
You can also arrange for regular income in old age through Atal Pension Yojana. In this, registration can be done from the age of 18 years till before 40 years of age. In this, the person has to pay a small contribution every month till he completes the age of 60. After the age of 60 years, people are given the benefit of a monthly pension ranging from Rs 1000 to Rs 5000. The amount of your contribution is decided according to the amount of pension you want to get at old age. People between 18 to 40 years old who are not taxpayers can invest in this scheme.

National Pension System
National Pension System is also a good option to get a monthly pension. In this scheme, most of the deposited amount is invested in the market, in such a situation you get an average return of 10 percent on it. Any citizen of India whose age is between 18 to 70 years can take advantage of this scheme. To get a pension you will have to invest till the age of 60 years. However, if the account holder needs emergency funds before retirement, then you can withdraw 60% of the amount from the deposit. However, 40 percent of this is used as an annuity. This is how you are given a pension. The higher the annuity amount, the more pensions you will get.

Systematic Withdrawal Plan
A systematic Withdrawal Plan is an investment under which the investor gets a fixed amount monthly from a mutual fund scheme. Through this, a good old age pension can be arranged. But first, you will have to deposit huge funds through SIP or any other scheme along with your job. When you retire, you will have to choose the option of SWP. You get the amount of SWP by selling mutual fund units. If the fund is exhausted, SWP will stop. You have to decide when you need money monthly, quarterly, and annually. If you have not been able to do SIP then you can also use the funds received on retirement for this. To activate SWP, you have to fill out an instruction slip at the AMC stating the folio number, frequency of withdrawals, date of first withdrawal, and bank account to receive money.


Post Office Monthly Income Scheme
You can also earn income every month through the Post Office Monthly Income Scheme. Single and joint account facilities are available in this government-guaranteed deposit scheme. A maximum of Rs 9 lakh can be deposited in a single account and a maximum of Rs 15 lakh can be deposited in a joint account. This money is deposited for a maximum of 5 years. In this, you earn from interest and your deposited amount remains completely safe. According to the current interest rate of 7.4%, up to Rs 9,250 can be earned from this scheme through a joint account. Even after 5 years, if you want to take advantage of the scheme, you can open a new account.

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