Retirement Planning Process: If you are worried about regular income after your retirement, then this news can prove to be of your use. You do not get any pension after retirement. So if you want regular income after you stop working, then this method can give you lump sum amount in many ways.
These are 3 government schemes
No one wants to take the risk of getting the funds after retirement. You can see some investment tips for your retirement plan. With this, you can spend your post-retirement life well. With this, all three investments can be completely safe.
Pradhan Mantri Vaya Vandana Yojana
Pradhan Mantri Vaya Vandana Yojana (PMVVY) is a risk free investment like SCSS and offers 7.4 percent interest. You have Monthly, Quarterly, Half Yearly or Yearly payment options to choose from. If the retiree invests Rs 15 lakh for himself and the spouse, then Rs 2.2 lakh can be managed in the annual income.
RBI floating rate bond
This investment scheme gives returns up to 7.15 percent. Interest payment is half yearly. There is no limit on the investment amount and hence it is considered a safe option to invest more money. Interest income from such investments is being taxed as per the tax slab of a retired person.
Senior Citizen Savings Scheme
Senior Citizen Savings Scheme is a guaranteed scheme supported by the government. It currently gives a return of 7.4 per cent interest and the payment is made every 3 months. You are a senior citizen, so you can invest Rs 15 lakh and earn around Rs 1.1 lakh per year. You can make a separate investment of Rs 15 lakh in the name of the spouse. With this, the income will be around Rs 2.2 lakh.
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