New Delhi: Securing post-retirement income is a pivotal aspect in maintaining one’s financial stability. Poeple often invest in risk-free schemes which provides stable returns after retirement. Two such options where you can perk your money are National Pension Scheme (NPS) and Atal Pension Yojana (APY).Also Read - 11 Flights, Including Defence Minister Rajnath Singh's Flight, Diverted After Heavy Rain in Delhi-NCR

National Pension Scheme (NPS)

The National Pension Scheme has an entry age of minimum of 18 years. The maximum age required to invest is 55 years. Also Read - IPL 2022 Points Table After RR vs CSK, Match 68: Gujarat Titans Maintain Top Spot; Jos Buttler With Orange Cap, Yuzvendra Chahal Retains Purple Cap

Citizens of India and NRIs can invest in the NPS. Also Read - Will Omicron Subvariant BA.4 Cause COVID Fourth Wave in India? Check What Experts Say

By investing in the national Pension Scheme, one will get an income tax relief up to Rs 2 lakh.

Under the National Pension Scheme, investors get two types of accounts to invest. These are tier 1 and tier 2.

Premature withdrawal facility is available for tier-2 account.

Under NPS, all contributions are made by the investors themselves.

Atal Pension Yojana (APY)

The minimum age for entry for the Atal Pension Yojana (APY) is 18 years and the maximum age is 40 years.

Resident of India can invest in the Atal Pension Yojana.

Under the Atal Pension Yojana, a guaranteed pension after retirement is required.

Under the Atal Pension Yojana, subscriber gets guaranteed monthly pension between Rs 1000 to Rs 5000 for the life.

Under the Atal Pension Yojana, aforementioned guaranteed amount pension is required for spouse for life after subscriber’s death.

Nominee receives pension wealth of Rs 1.70 lakh to Rs 8.50 lakh after death of spouse.