A new account reqd for common man for his old age

Respected All,

A new account reqd for common man for his old age.

A new 9% interest account with no tax no limit
should be created for Pension. This account will be available for
common man to survive his old age.

This account should be available to be created by any Indian citizen
in Nationalized banks only.
Principal and Interest should be protected by Govt of India ( Reserve
bank of India)

The current PPF account restriction of 70,000 has to be increase to
some seven or ten lakhs.

The minimum expense of a small family is 16,000 for survival and about
25,000 including education.

Suppose if the family(which it will be) lives for 40 years after retirement,
he has to plan for 3 (three lakh) NPV per annum.

1.2 Crore per person as pension is minimal requirement.

IF interest and inflation adjusts at best case, we need 3*40 = 1.2
crore just to live.

Now, the inflation is 100% per month on essential commodities like food.

You need to create pension account without tax and without limit on
investment for people's survival.

Thanks and Regards,
N.Rajeaswar.