1. The rule for becoming millionaire is to be able to plan for future and thus in this category one must invest for a pension plan and now a new Pension System (NPS) has been launched on 1st May 2009 and same is eligibe for all personnel between age group of 18-55 years. National Security Depository Limited (NSDL) is the record keeper for the accounts created. One has to keep annual expenses in mind which is Rs.380 for record keeping and each transaction costs Rs.6 and the investment management fee is 0.009% per annum. This works against small savers but is beneficial for large savers.

2. Important features of scheme are as listed below:
(a) Subscribe to the NPS from any of the 285 points of presence (PoPs) or even online facility is also available. 17 banks are participating in the NPS namely SBI and its associates, ICICI, Axis Bank, Kotak, Allahabad Bank, Citibank, IDBI, Oriental Bank, South Indian Bank and Union Bank. One can even go through LIC, IL&FS, UTI Asset Mgmnt and Reliance Capital. One also has the freedom to shift from one PoP to another.
(b)It is like a mutual fund which means that six fund managers with whom one can decide to subscriber namely- ICICI Prudential, IDFC, Kotak Mahindra, Reliance Capital, SBI and UTI.
(c) However minimum annual contribution is Rs.6,000, meaning monthly it is Rs.500. Remember that one has to pay.
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3. Overall scheme do not appears to be attractive till the time tax implications are clarified as compared to PPF.