Secure your spouse’s future with NPS: Here’s how to get Rs 44,793 monthly pension, other perks

One can invest in NPS to secure the future of their spouses, as the scheme ensures a guaranteed monthly income.

New Delhi: The National Pension Scheme (NPS) is one of the leading savings schemes in India. The scheme helps to plan your retirement and your spouse’s requirements in case of the unfortunate. 

NPS, which is a pension cum investment scheme, aims to secure retirement to the people through safe and regulated market-based returns. Pension Fund Regulatory and Development Authority (PFRDA) regulates the investments in NPS. 

PFRDA-established National Pension System Trust (NPST) is also the owner of all the assets under NPS. This fact adds to the safety of returns on the investment in NPS. So, if you’re planning your retirement or setting up funds for your house making spouse, NPS could be the best investment plan for you.

How to save for your spouse’s future? 

Investors can put their money in NPS to secure the future of their homemaking spouses. The investment policy offers an option wherein the spouse receives decent returns at the time of maturity, along with monthly pension options. 

You can easily set the amount of monthly pension that your spouse will need at the time you retire. However, you will need to invest for about 30 years to receive the maximum benefits from the scheme. Also Read: Online fraud: Maharashtra woman seeking Rs 1 lakh loan loses over Rs 14 lakh

Here’s the calculation for receiving a Rs 44,793 monthly pension

Total Investment time period: 30 years

Monthly investment: Rs 5,000

Expected rate of returns: 10 per cent

Total pension fund on maturity: Rs 1,11,98,471

Rs 44,79,388 to buy annuity plan

Rs 67,19,083 on annuity interest of 8 percent

Monthly pension: Rs 44,793 

Any Indians who are in the age group of 18-65 can invest in NPS. However, individuals cannot open multiple accounts with NPS. So, if you want to invest more, you can opt for Atal Pension Yojana. Also Read: PM Kisan: Name missing from PM Kisan Beneficiary List? Here’s what to do next