New Pension System: Give Your Wife Guaranteed Income Every Month at Home by This Central Government Scheme

If you want to secure the future of your wife then you can open a new pension system (NPS) account in your wife's name. NPS is the social security scheme of the central government. By this you can arrange regular income for your wife even if she is a homemaker. So make your wife independent even after the age of 60 years by opening NPS account.

What is a New Pension System (NPS) Account?

Opening a new pension system (NPS) account in your wife's name will give her a lump sum amount on completion of 60 years of age. Adding to it, they will also have regular income as a pension every month. You can decide how much pension your wife will get every month with an NPS account.

How to invest in NPS account?

First, open a New Pension System (NPS) account in your wife's name. Then, you can start depositing money every month or annually at per your convenience. You can simply open an NPS account in your wife’s name from 1,000 rupees. It is to be noted that at the age of 60, the NPS account becomes mature. According to the new rules, you can keep running the NPS account till the age of the wife is 65 years.

Now, let’s understand the Estimated Return on Investment & how much pension you can get.

Interestingly, if you invest Rs 5000 monthly then Rs 1.14 crore funds will be formed.

How much pension will you get?

If your wife’s age is 30 years, then total Investment Period is 30 years. You can make monthly contribution of Rs 5,000. With which an estimated return on Investment will be 10%.

Therefore, in Total Pension Fund, amount 1,11,98,471 can be withdrawn at maturity. Whereas, 44,79,388 Amount to purchase annuity plan and 67,19,083 Estimated Annuity Rate 8% Monthly Pension- Rs 44,793

Who manages NPS account?

The money invested in NPS account is managed by a professional fund manager. The central government gives responsibility to these professional fund managers. Therefore, it can be assumed that your investment in NPS is completely safe. But, the money you invest under it does not guarantee returns.