In today’s time, with never-ending expenses and a limited income, tucking away enough money for your later years could appear virtually impossible. How do you ensure that your funds comfortably earn you a regular income and still last your entire lifetime? You can always ensure a regular income after retirement if you take the right steps.<\/p>\n\n\n\n
Here are some instruments to achieve this goal.<\/p>\n\n\n\n
This scheme has been crafted especially for senior citizens seeking income after retirement. This scheme currently offers an attractive interest rate of 7.4% per annum, with the interest being paid out on a quarterly basis. The amount invested usually matures in 5 years and can be extended to 3 more years.You can invest up to Rs 15 lakh and rely on quarterly interest pay-outs for liquidity needs. In this scheme, tax is deductible from the source investment.<\/p>\n\n\n\n
This is a scheme offered by the Life Insurance Corporation (LIC) of India. It gives a guaranteed payout of pension at a specified rate for 10 years, making it suitable for retirees. You can invest up to Rs 15 lakh and it also promises a return of 7.4%. It also offers a death benefit in the form of a return of purchase price to the nominee.<\/p>\n\n\n\n
The scheme was to end on March 31, 2020, but the central government decided to extend until March 31, 2023 due to its popularity amongst retirees. However, the interest rate was slashed from 8% to 7.4%.<\/p>\n","protected":false},"excerpt":{"rendered":"
In today’s time, with never-ending expenses and a limited income, tucking away enough money for your later years could appear virtually impossible. How do you ensure that your funds comfortably earn you a regular income and still last your entire lifetime? You can always ensure a regular income after retirement if you take the right […]<\/p>\n","protected":false},"author":1,"featured_media":11702,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[54],"tags":[],"class_list":{"0":"post-11701","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-latest-news"},"_links":{"self":[{"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/posts\/11701","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/comments?post=11701"}],"version-history":[{"count":0,"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/posts\/11701\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/media\/11702"}],"wp:attachment":[{"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/media?parent=11701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/categories?post=11701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/earlypostdaily.com\/index.php\/wp-json\/wp\/v2\/tags?post=11701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}