Outlook Money
NPS is a government-aided small savings scheme for retirement; at maturity, one can withdraw up to 60% of the corpus in lump sum.
VPBY is available for seniors aged 60 and older, the policy kicks in one month after enrollment and continues till death.
APY is a governmental-backed pension scheme for people below the poverty line; they can receive up to Rs 5,000 per month.
EPF is another government-backed small savings schemes for retirement planning for salaried individuals.
PPF allows people from all walks of life to build a retirement corpus by contributing regularly with a ceiling of Rs 1.5 lakh per annum.
SCSS is a government-aided scheme for individuals aged 60 and older, offering 8.20% per annum; payments are made quarterly.
Choose a plan based on your financial goals and investment capacity.
Compiled By Himani Verma