These 5 government schemes will make your retirement and savings super-safe, know how?

The biggest concern of middle-class families is how to save for tomorrow while meeting today's expenses. So the solution to this problem is the government's 5 special schemes, which not only make savings easy but also make retirement super-safe. By investing in these schemes, you get benefits like better interest rates, tax benefits, and guaranteed returns. That means now even the middle class can do strong planning for the future without tension. So if you are also looking for such investments that are completely safe, come with a government guarantee, and also give good returns, then we will know about the 5 best options.

1. Employee Provident Fund (EPF)

EPF is the most important part of retirement planning for salaried employees. This is a long-term savings scheme that gives both guaranteed returns and tax benefits. In this, both the employee and the employer deposit 12% of the basic salary in the fund every month. Under Section 80C, you also get the benefit of tax deduction and interest tax-free. Actually, it is a risk-free option and is excellent for safe retirement planning.

2. Unified Pension Scheme (UPS)

The Unified Pension Scheme (UPS) is a big guarantee of financial security for government employees after retirement. Under this scheme, after retirement, the employee will be given 50% of their average basic salary of the last 12 months as a pension. The special thing is that it also includes dearness allowance (DA), due to which the pension keeps increasing from time to time.

3. Pradhan Mantri Vaya Vandana Yojana (PMVVY)

Pradhan Mantri Vaya Vandana Yojana (PMVVY) is a safe and reliable scheme for senior citizens, which guarantees a regular income after retirement. People aged 60 years or above can invest in it and avail the benefit of a fixed interest rate of 7.4% for the entire 10 years. In this scheme, every person is allowed to invest up to a maximum of ₹ 15 lakh. The special thing is that the payment of pension can be chosen on a monthly, quarterly, half-yearly, or yearly basis.

4. Public Provident Fund (PPF)

Public Provident Fund (PPF) is considered to be the most reliable and popular savings scheme for middle-class families. It gives an annual interest rate of 7.1% (compounded annually) and its tenure is 15 years, which can be extended in blocks of 5 5 years. The minimum limit of investment is ₹ 500, and the maximum is ₹ 1.5 lakh annually. The most important thing is that it gives EEE status, i.e., investment, interest, and maturity - all three are tax-free.

5. Senior Citizens Savings Scheme (SCSS)

Senior Citizens Savings Scheme (SCSS) is one of the most reliable schemes for people aged 60 years and above. It is available in post offices and select banks. It offers 8.20% annual interest, which is reviewed every quarter. Its tenure is 5 years, which can be extended by 3 more years. The maximum investment limit per person is ₹30 lakh, and a tax exemption of up to ₹1.5 lakh is also available under Section 80C. Also, by investing separately, husband and wife can together get a stable income of more than ₹41,000 every month.

If you want safe and guaranteed returns by avoiding risky investments, then these government schemes can prove to be the best option for you. Options like EPF and PPF for salaried people, UPS for government employees, and PMVVY and SCSS for senior citizens are available. By investing in these, you can not only save tax but also make your future completely financially secure. (Note: The news is based on general information)

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