New Delhi: There are lots of investment options including government and non-government schemes pouring into the market. To secure and maximise return, investment in today's time calls for careful financial planning and deep research. Are you also looking for a scheme to get secure and maximise return?


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Here is a government scheme where investing 1000 rupees a month, you can get a pension of 20 thousand rupees per month after retirement. Continue reading to find out each and every important point you should know before making an investment. (Also Read: Mutual Fund: Here’s how you can convert SIP of Rs 10,000 into Rs 12 lakh in 5 years)


What is National Pension Scheme (NPS)?


National Pension Scheme is a government scheme, which is specially designed to give benefit the elderly. This scheme was started in January 2004 for government employees. Later in 2009, it was opened to all categories of people. In this scheme, you have to invest 40 per cent of the amount in the annuity. From the amount of annuity, you get a pension later. (Also Read: Antodaya Ration cardholders will get free health treatment soon; here's HOW)


How to get Rs 20,000 per month as a pension?


You can start with an investment of only Rs 1000 in the NPS. People in the age group of 18 to 70 years can take advantage of this scheme. If you invest 1000 rupees a month from the age of 20, till retirement you will have a total corpus of Rs 5.4 lakhs.


There will be a 10 per cent return on this, this will increase this investment to 1.05 crores. If 40 per cent of the corpus is converted into a year, this prize will be Rs 42.28 lakh. Accordingly, assuming a 10 per cent annual rate, you will get a pension of Rs 21,140 every month. Along with this, you will get a lump sum amount of about Rs 63.41 lakh.


Benefits


If you invest in NPS, 60 per cent of the amount on final withdrawal will be tax-free. The contribution limit in the NPS account is 14 per cent. The amount invested in to purchase of an annuity is also fully exempt from tax. Any NPS subscriber can claim a tax deduction of up to 10 per cent of the gross income under section 80CCD(1) of the Income Tax Act.


Under section 80CCE, this limit is 1.5 lakhs. Subscribers can claim additional deductions up to Rs 50,000 under section 80CCE