Your wife can get you a monthly pension of ₹44,793, a total ₹1 crore 11 lakh 98 thousand 471, a best scheme for earning
National Pension Scheme: If your wife does not depend on anyone for money in the future, then you can arrange for regular income for her. You can open a New Pension System (NPS) account in the name of the wife. The NPS account will give a lump sum amount to the wife at the age of 60. Apart from this, you will get the benefit of a pension every month. This will be the regular income of the wife. The biggest benefit of the NPS account is that you can decide yourself how much pension you want every month. At the age of 60, the wife will not be short of money.
You can open a New Pension System (National Pension Scheme) account in the name of your wife. There is an option to deposit money every month or annually as per convenience. You can open an NPS account in the name of your wife with just Rs 1,000. NPS account matures at the age of 60 years. Under the new rules, if you want, you can continue running the NPS account till your wife turns 65 years old.
Understand this with an example- Your wife is 30 years old and you invest Rs 5000 every month in her NPS account. If she gets a 10 percent return on investment annually, then at the age of 60, there will be a total of Rs 1.12 crore in her account. She will get about Rs 45 lakh from this. Apart from this, she will start getting a pension of around Rs 45,000 every month. She will keep getting this pension for life.
Age- 30 years Total investment period- 30 years Monthly contribution- Rs 5,000 Estimated return on investment- 10 percent Total pension fund- Rs 1,11,98,471 can be withdrawn on maturity. Rs 44,79,388 amount to buy an annuity plan. Rs 67,19,083 Estimated annuity rate 8% Monthly pension - Rs 44,793.
NPS is the Social Security Scheme of the Central Government. The money you invest in this scheme is managed by professional fund managers. The central government gives this responsibility to these professional fund managers. In such a situation, your investment in NPS is completely safe. However, the return on the money you invest under this scheme is not guaranteed. According to financial planners, NPS has given an average return of 10 to 11 percent annually since its inception.
Tax exemption benefits are also available in the National Pension System (NPS) such as tax exemption of up to Rs 2 lakh and tax exemption on withdrawal of 60% of the amount. NPS is a scheme in which after the limit of Rs 1.5 lakh is exhausted, tax exemption is also available on an additional investment of Rs 50 thousand. Due to this extra exemption, you can save a total tax of up to Rs 2 lakh every year in NPS.
