News Karnataka
Saturday, April 13 2024

How Can You Continue To Earn Income After Retirement In India?

Retirement Pension
Photo Credit : By Author

There are so many milestones in our lives, including school, college, career, marriage, and children and of course retirement. Retirement is in fact, one of the most significant milestones in our lives.

You can do so much and plan various financial investments in order to secure your life after retirement. Usually, your income stops once you retire from your job, may it be the private sector or public sector.

There is a provision of some funds called a pension. Your life insurance plan, stock market investment, or real estate are going to be of great help, but apart from that, what is it that you need to do in order to live a stress-free life post-retirement?

Invest in an annuity plan, retirement plan & pension schemes in India. These are some of the best ways to keep the incoming flow of money open even after you stop working. Additionally, use a pension calculator to make the right investment decision.

Let us talk in detail about the plans and provisions that will help you have a healthy financial life after retiring.

Your Post-Retirement Income Flow Arrangements

  • National Pension Scheme (NPS)

In India, there is a government scheme that can be called a voluntary retirement savings scheme or the National Pension Scheme. This scheme runs under the jurisdiction of the Ministry of Finance in India and is operated by the Pension Fund Regulatory and Developed Authority.

The National Pension Scheme allows investors to plan their retirement funds and save throughout their working years. The investor can withdraw the money at the time of retirement or as and when needed, as per the plan they choose.

  • Public Provident Fund (PPF)

Public Provident Fund is a well-known savings and investment instrument that helps you plan and save for a long period of time. This instrument offers an attractive return on investment and interest rates.

It is a long-term investment and savings plan that matures after 15 years. The individual can also choose to invest after retirement in order to continue the savings and earn a good amount of tax-free return on investment.

  • Senior Citizen Savings Scheme (SCSS)

A Senior Citizen Savings Scheme is again a scheme designed by the Government of India for the people of the nation and their financial well-being after retirement. The government sponsors this savings tool, and hence, it is highly trustworthy.

This scheme is for the citizens of India who are 60 years or above. It is a scheme that offers timely quarterly returns against your savings. It provides you with a steady and regular flow of income even after your retirement.

  • Unit-Linked Insurance Plans (ULIPs)

A ULIP or unit-linked insurance plan is a combination of two types of financial instruments: Investment and Insurance. This plan is basically an insurance policy that will act as an investment source.

The money you pay for the insurance policy will be invested in various stocks and funds over a period of time. This generates returns on that investment in the long run. This multifaceted tool allows you to invest your money and time in return for a really good ROI.

  • Pension Plan

Pension plans are savings and investment schemes that cater to the purpose of income after retirement. It is designed to provide a regular stream of income to people who have no income source after their retirement.

The individual will put a lump sum amount in the plan or pay in installments. The plan will generate interest and pay the individuals later on. The returns are also paid either in lump sum or installments, whatever is opted by the subscriber of this plan.


Financial security is an important factor in our lives, and it makes our lives better. It gives us confidence, the feeling of safety, and the privilege to survive respectfully in society. Everyone must strive for this security in old age when vulnerabilities are heightened, and you are susceptible to financial emergencies.

These schemes are like the source of safety for you in your post-retirement life. Be at peace after you retire because that is what you have worked for all your life: happiness and safety

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