Financial Planning for Retired Persons

Retirement planning helps ensure a regular stream of income and financial independence during post-retirement years.

4 Simple Steps for Retirement Planning
1
Estimate Expenses
Calculate the amount required for a comfortable retired life. Include daily living expenses, inflation, and increasing healthcare costs.
2
Know Your Retirement Corpus
Understand the lump sum amount you may receive at retirement such as EPF, gratuity, leave encashment, etc.
3
Choose Right Investment Options
Diversify investments across different retirement products to reduce dependency on one source of income.
4
Start Early
Early investing allows you to benefit from the power of compounding and create a larger retirement corpus.
Popular Retirement Plan Options

🏦 National Pension System (NPS)

A voluntary retirement savings scheme regulated by PFRDA.

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💰 Public Provident Fund (PPF)

Safe long-term investment option with tax-free returns and 15-year lock-in.

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👴 Senior Citizen Savings Scheme (SCSS)

Government-backed investment option designed for senior citizens above 60 years.

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📜 PM Vaya Vandana Yojana

LIC pension scheme that provides regular pension income for senior citizens.

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🏠 Reverse Mortgage

Receive regular income against your residential property while continuing to live in it.

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