Invest now, retire rich: Modi government's Rs 50,000 monthly pension plan for 35-year-olds
Worried about your future? This report is for you. Invest at 35 and get a Rs 50,000 monthly pension! Learn how it's possible with this detailed guide.
FollowLearn how small savings can lead to a Rs 50,000 monthly pension after retirement. Surprised? It's true! This is about the National Pension System (NPS).
NPS is a government scheme designed to secure your retirement. This scheme helps you secure a good pension for your future.
Initially for government employees, NPS is now open to all citizens. With smart planning, you can get over Rs 50,000 monthly pension.
What is NPS? It's a market-linked scheme; returns depend on market performance. Two account types: Tier 1 and Tier 2. Anyone can open a Tier 1 account; Tier 2 requires a Tier 1 account.
At 60, withdraw 60% of your NPS investment as a lump sum; this is your retirement fund. Starting at 35, invest in NPS for 25 years, until you turn 60.
For a Rs 50,000+ monthly pension, invest at least Rs 15,000 monthly. Investing Rs 15,000 monthly for 25 years totals Rs 45,00,000. At 10% interest, it becomes Rs 1,55,68,356.
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