Fri, Jun 28, 2024
Monthly Pension Schemes For Senior Citizens: Senior citizens look for retirement options that can give them a fixed income every month. It makes them financially independent and helps them achieve financial freedom. lets look at five investment options that senior citizens can invest in to earn regular, monthly income during their retirement years. The idea here is to build a retiree portfolio with a mix of these products.
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Retirement Planning: One can contribute to NPS starting at age 18 and continue it till 70 years of age. NPS offers Tier-I and Tier-II accounts. In a Tier-I account, the lock-in period is 60 years of age. At retirement, one can withdraw up to 60 per cent lump sum, and the rest of 40 per cent should go into purchasing annuities to draw a monthly. If one wants, they can purchase annuities for all of their 100 per cent retirement corpus.
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