Outlook Money
Provident Fund helps build a long-term retirement corpus through monthly contributions.
NPS is a government-backed savings scheme for retirement; investments up to Rs 1.5 lakh in a financial year are tax-exempt.
POSS schemes are not exclusively for retirement but provide guaranteed returns with higher interest rates and other benefits.
POSS schemes include term deposits, monthly income schemes, national saving certificates (NSC), and Kisan Vikas Patra (KVP).
Sovereign government bonds offer guaranteed returns besides their help in portfolio diversification, a useful tool post-retirement.
Gold stores value; investment options include digital gold, gold MFs and ETFs, SGBs, and physical gold.
Mutual funds are riskier instruments. They don’t guarantee returns but have the potential to generate superior long-term returns.
SCSS is designed for individuals over 60; one can invest up to Rs 30 lakh and offers higher interest rates, paid quarterly.
Compiled By Himani Verma