8 Retirement Plans For Self-Employed

Amit Sethi

Public Provident Fund

PPF is a government-backed savings plan with a 15-year lock-in; at maturity, the subscriber can withdraw the accumulated funds tax-free.

Provident fund

National Pension Scheme

NPS is a government-administered savings plan. One can withdraw 60% of the fund at retirement; the rest is reinvested in an annuity plan.

NPS

Senior Citizen Savings Scheme

SCSS is a government-backed savings plan with a 5-year lock-in; it offers higher rates than other small savings schemes with tax benefits.

Saving And Investing

Debt Mutual Funds

Debt mutual funds can be alternative options for pension funds; they offer investment safety as they invest in government securities.

Mutual Funds

MF Options

Mutual funds offer various equity-oriented, debt-based, and mixed-equity funds to help build a retirement corpus.

Multiple Investment Options

Annuity Plans

Annuity or pension plans offer investors a steady monthly income post-retirement.

Annuity

Types Of Annuity

Annuity plans come in two main variants: immediate and deferred. Immediate plans start pension payments after the first premium; in deferred plans, payments are made after a set period.

Annuities of different types Muralinath

What Should You Pick?

You can choose a plan based on your needs and risk-bearing capacity.

Compiled By Himani Verma

Picking Best Options
Senior Citizens