New Pension Scheme: If you are also worried about pension after retirement, then we tell you how if you want to become a millionaire before retirement and want to secure your old age, then what you have to do.
For this, you have to start saving money for retirement from the day of your job. The sooner you start accumulating money, the more money you will get till retirement. There are many investment options available to you to accumulate more money for retirement. Like EPF, NPS, stock market, mutual funds, real estate etc.
New Pension Scheme Gives You Safe Option
Among all these options, NPS is one such option which is safe as well as gives you good returns. Through this scheme, you can arrange a pension of Rs 50,000 per month.
If you are 30 years old now and from today if you invest 10 thousand rupees every month in NPS. So till retirement i.e. after 30 years when you will be 60 years old then you will have lump sum amount more than 1 crore rupees in your hands and 52 thousand rupees pension will come every month, that is different. That is, your old age will pass without any tension and will not be dependent on anyone.
In this way, you will retire by becoming a millionaire through NPS,
You get an annual return of 9 to 12 percent. On maturity, you have to invest 40 percent in an annuity scheme so that you can get regular pension, the return of annuity is also close to 6 percent and if you want to increase or decrease your monthly pension, then you should also invest in NPS accordingly. must be increased or decreased.
The total wealth and pension from NPS depends on several factors, such as your age, and the performance of the equity market. Anyone between 18 years to 65 years can invest in NPS.
Through NPS, you can save tax up to Rs 2 lakh annually. Under Section 80C of Income Tax, you can save tax up to a maximum of Rs 1.5 lakh, but there is an additional tax exemption of Rs 50,000 if you invest in NPS.
There are two types of NPS, know how to invest
NPS are of two types, NPS Tier 1, and NPS Tier-2.
The minimum investment in Tier-1 is Rs 500 while in Tier-2 it is Rs 1000. However, there is no maximum limit for investment.
There are three investment options in NPS – Equity, Corporate Debt and Government Bonds. With more exposure to equities, it also gives higher returns. Keep in mind that you should do any investment only after talking to your investment advisor.
