To ensure that your wife doesn’t have to depend on anyone for money in the future, you can arrange for a regular income for her. One option is to open a New Pension System (NPS) account in her name. This NPS account will provide her with a lump sum amount at the age of 60, along with a monthly pension. This will be her source of regular income. The biggest benefit of the NPS account is that you can decide how much pension you want her to receive each month. This way, she won’t face any financial difficulties at the age of 60.
You can open an NPS (National Pension Scheme) account in your wife’s name. You have the option to contribute monthly or annually as per your convenience. You can start an NPS account in her name with as little as ₹1,000. The NPS account matures when she reaches the age of 60. According to the new rules, if you wish, you can continue the NPS account until she turns 65.
For example, if your wife is 30 years old and you invest ₹5,000 per month in her NPS account, and she earns a 10% annual return on this investment, her account will have a total of ₹1.12 crore by the time she turns 60. Out of this, she will receive approximately ₹45 lakh as a lump sum. Additionally, she will start receiving a monthly pension of around ₹45,000, which will continue for her lifetime.
