Best Investment Options After Retirement / Investment After Retirement 2022 In English.
Presently, the way inflation is increasing and inflation is touching the sky, in such a situation, after your retirement, you need a regular income which can meet your needs. You should be able to invest the amount you get on your retirement in the right and right place, so that you keep getting income! Today in this post we are going to talk about such investment option which can keep you tension free about money even in old age! So let’s know about those reliable investment options – Investment After Retirement 2022 In English.
Best investment plans for senior citizens in india 2022.
1) Government Securities
Government Securities i.e. G-Secs is also an option of a safe investment scheme. In this too, your entire amount remains safe because these securities are issued by the central and state government, which gives full guarantee of the security of your money. By investing in this scheme too, you will continue to get income in the form of regular monthly interest.
2) Mutual Fund
At present, Mutual Funds are a safe and better option to invest in the stock market. Investing in Mutual Funds can be a great option if you want good returns with little risk. In this, you can choose the investment plan based on your risk appetite. Before investing in mutual funds, my advice to you is that you should invest according to the advice of experts, otherwise you may lose the amount invested in it.
3) Pradhan Mantri Vaya Vandana Yojana
Talking about retired people, the most reliable and better option is considered to be ‘Pradhan Mantri Vaya Vandana Yojana’! In this scheme, you can invest up to 15 lakh rupees simultaneously, so that you will continue to get income at a fixed rate for 10 consecutive years. After retirement, any person whose age is more than 60 years can take advantage of this scheme.
In this scheme, if you want to get monthly pension, then you will get 8 percent interest for 10 years, same if you want to get annual pension then interest will be received at the rate of 8.3 percent. If the policy holder dies after investment, the purchase price money is returned to his/her nominee. Currently, the last date to invest in this scheme is 31 March 2023.
The investment made in this scheme is tax free under the Income Tax Act, but you will have to pay tax on the interest earned on it.
4) Post Office Monthly Income Scheme
This is also a reliable investment option launched by the government which gives you regular monthly income. In this scheme, you can invest jointly up to Rs 9 lakh and jointly up to Rs 4.5 lakh! On the invested amount, you keep on getting 6.6 percent interest annually, which is available for a period of 5 years. If you want, after maturity, you can extend this plan for another 5 years.
On investing in this scheme, you get a maximum exemption of up to Rs 1.5 lakh every year under Section 80C of the Income Tax Act. But you will have to pay tax on the interest earned on it.
5) Senior Citizen Savings Scheme
Senior Citizen Savings Scheme (SCSS) is a better investment scheme launched for senior citizens. If you want to invest in this scheme, then you can invest 1 thousand to 15 lakh rupees and get monthly income for 5 consecutive years. The investment period in this scheme is 5 years, if you wish, after maturity, this period can be extended for 3 years.
On the amount invested in this scheme, you get interest on quarterly basis at the rate of 7.4 percent, which is quite good as compared to RD and FD! On the amount invested in this scheme, you also get the benefit of exemption of maximum 1.5 lakh rupees every year under section 80C of the Income Tax Act.
6) Fixed Deposit Scheme
Fixed Deposit Scheme (FD) is also a great investment option for retirees. In this also you can get income in the form of interest on the invested amount on monthly basis. If we talk about the interest rate available in this scheme, then it varies from bank to bank. Usually its rate is around 6 percent, but for senior citizens, this scheme gives an additional interest of 0.25 to 0.50 percent annually.
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