Investment schemes: You can invest in these 5 schemes of the government for regular income, check scheme details
Before investing our saved money somewhere, the thought of risk definitely comes to our mind. In such a situation, we are going to tell you about 5 such investment schemes of the government, which are 100% safe. If you invest in any of these, then after retirement you will not have to worry about money at all.
Plan your retirement from now
The gap between expenses and savings is always high in middle class families. After meeting the necessary expenses from employment or salary, they want to save some money for their future. Amidst all the responsibilities, every employed person must have thought at some point of time that how can he save so much money, so that he does not have to earn in old age. The rest of his life can be spent comfortably.
These 5 investment schemes are 100% safe
Before investing our saved money somewhere, the thought of risk definitely comes to our mind. In such a situation, we are going to tell you about such 5 investment schemes of the government, which are 100% safe. If you invest in any of these, then after retirement you will not have to worry about money at all.
- Employee Provident Fund (EPF).
Any government or private employee has a Provident Fund (PF) account. This provides social security in case of retirement or job loss. Crores of employees in India are associated with EPFO. 12% of the employee’s basic salary is deposited in the PF account. The company deposits the same amount. This fund matures when the employee turns 58 years old. Then the employee can withdraw the amount deposited in it. Through this, you can raise a good amount for your retirement. In case of an emergency, partial withdrawal is allowed from it. The special thing about this scheme is that your contribution in it is eligible for tax deduction under section 80C.
2. Unified Pension Scheme
Unified Pension Scheme is a new pension scheme for government employees. Under this, employees will be given assured pension after retirement. The pension amount will be 50% of the average basic pay of 12 months before retirement. All those who have retired under NPS since its inception and those who retire by March 31, 2025 will also be eligible for all the benefits of UPS. They will get the dues after adjusting whatever money they have withdrawn. UPS gives you the facility of assured family pension. DA will also be applicable in this. DA will be based on All India Consumer Price Index for Industrial Workers.
3. Pradhan Mantri Vaya Vandana Yojana (PMVVY)
PMVVY (Pradhan Mantri Vaya Vandana Yojana) is a pension scheme designed for senior citizens aged 60 years and above. The aim of this scheme is to provide financial security to senior citizens in old age. It gives a guaranteed return of 7.4% for 10 years. Market volatility does not affect the returns on this scheme. This provides financial security, which is very important at this age. A maximum of Rs 15 lakh can be invested per person in this. This scheme provides fixed monthly, quarterly or annual pension depending on the investment amount.
4. Public Provident Fund (PPF)
If you are looking for an investment with tax exemption and returns, then investing in Public Provident Fund i.e. PPF can be a very good option. Investment in PPF comes under the category of EEE. In this scheme, you get the full benefit of income tax exemption. You do not have to pay any tax on the amount received on maturity. The government guarantees you security in PPF account. Currently, 7.1% annual interest is being given on PPF account. That means by investing in it, you can save a lot of your tax on one hand and on the other hand you can also get returns. Investment in PPF is for 15 years. But you can keep your money deposited as long as you want. You will keep getting interest on it. The minimum investment amount in PPF has been kept at Rs 500. A maximum of Rs 1.5 lakh can be invested in a year.
5. Senior Citizen Saving Scheme
If you are a senior citizen and want to save tax along with safe investment, then you can invest money in Post Office Senior Citizen Savings Scheme Account (SCSS). People above 60 years of age can invest money in this scheme. Currently, 8.20% annual interest is being given in this scheme. This scheme is 100% secured by the government. The maturity period of this scheme is 5 years. The maximum limit of investment is Rs 30 lakh per person. The interest keeps getting revised every 3 months. If a couple invests, then the combined monthly income becomes 41000. By investing in this scheme, you can claim a deduction of Rs 1.5 lakh from your total income under section 80C of the Income Tax Act.
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