New Delhi: An early retirement planning opens window for reaping bigger returns. You can effectively plan your retirement through such schemes for yourself and your spouse.


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There are several attractive long term saving avenues in the market that opens the window to your retirement plans. One such avenue is the National Pension System (NPS), which is a pension cum investment scheme launched by the Indian government.


NPS aims to provide old age security to the people through safe and regulated market-based return. The Scheme is regulated by Pension Fund Regulatory and Development Authority (PFRDA). National Pension System Trust (NPST) established by PFRDA is the registered owner of all assets under NPS.


If your wife is a home-maker, you can plan her old age in such a way that she will not have to financially depend on others. National Pension System gives you the scope and option for long term planning, under which, you can set the amount of monthly investment to reap a very good pension at the end of its maturity.


If you start early, you will reap maximum benefits.  Check out the calculation, considering your wife’s age is 30 years.


Total Investment period: 30 years


Monthly contribution: Rs 5,000


Expected returns: 10 percent


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 individual citizen of India (both resident and Non-resident) in the age group of 18-65 years (as on the date of submission of NPS application) can join NPS. Although, opening multiple NPS accounts for an individual is not allowed under NPS, an Individual can have one account in NPS and another account in Atal Pension Yojna.


Any individual citizen of India (both resident and Non-resident) in the age group of 18-65 years (as on the date of submission of NPS application) can join NPS. But, don't be confused with joint account. NPS account can be opened only in individual capacity and cannot be opened or operated jointly or for and on behalf of HUF. So when we say open an NPF account for your wife, it only means that you can open an account in her name while you invest the set amount per month for her or on behalf of her.


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