If you are dreaming to become a millionaire, this news can make your dream come true. To become a millionaire, you don’t have to do business or earn huge salaries. You can become a millionaire even on a simple salary. This retirement plan has been launched for the general public by the Center. The scheme is named NPS (National Pension System). In NPS, you can start saving with a very small amount and make big profits over time. This allows people to deposit some money and deposit a good amount for their retirement.
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Open such accounts with just one OTP
Account opening with NPS is now easy. You can open an NPS account with just one OTP (sitting at home). Recently, PFRDA has allowed subscribers to open APS accounts with One Time Password (OTP). Under this, customers of banks who wish to open an NPS account through their bank’s internet banking facility can open an NPS account by obtaining an OTP on their registered mobile number.
53 crores how to make 1 crores
If you save 53 rupees every day, this means you will be saving about Rs 1590 per month. Suppose you are 20 years old and you expect to receive an average annual return of 10% from NPS. In such a situation, you will have to deposit Rs 1590 every month for 40 years and by the time you retire at age 60, you have accumulated a large corpus of Rs 1.01 crore.
Who can open an NPS account?
Anyone 18 to 65 years old can invest in NPS. Its maturity is when you are 60 years old. This means that if you start investing at the age of 18 or 50, you will get paid only after you are 60 years old. This means that the sooner you start investing, the more you gain.
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Only 60% of the money comes out
In the national pension system, you cannot withdraw all the money at once, but only 60% of it. That is, you have to invest Rs 61.59 lakh from a fund of Rs 1 crore. The remaining 40 percent is to be added to the annuity plan so that you receive a pension every month. After investing Rs 60 lakh in an annuity plan, after 60 years, you will receive a monthly pension of Rs 27,000.
