NPS Calculator: Indian citizens who contribute to the workforce of the country look for several schemes, which will help them save money and provide returns without much risk. This is especially true for those who want a stable future after their retirement, thanks to which a range of investments in the private and government sectors are accessible to them. National Income System (NPS) One of the more popular retirement plans. NPS is a retirement savings option Where individuals can contribute monthly amount to get regular income after retirement.
Initially introduced only for government employees, the Center has now extended this scheme to those working in the private sectors and every citizen who wishes to voluntarily opt for it. NPS The Pension Fund is jointly offered by the Regulatory and Development Authority (PFRDA) and the Government of India, and acts as a stable savings against one’s retirement.
NPS Eligibility
National Pension Scheme account can be opened by:
– Citizen of India, whether resident or non-resident
Applicant’s age should be between 18 to 70 years as on the date of submission of application and
The applicant must follow the KYC norms prescribed by the scheme
NPS Calculator: How To Use It
To use NPS calculator, first go to this link: https://www.npstrust.org.in/content/pension-calculator
– Next, enter your date of birth
– Now, enter the amount of your monthly contribution and the age up to which you wish to contribute
– Enter your expected return on investment and annuity return
Once all this is done, you will be able to see your monthly pension, annuity value and lump sum value on the right side of your computer plan.
NPS Scheme: How to get Rs 50,000 pension
If a person joins NPS at the age of 25 and starts contributing Rs 6,500 a month. The total contribution till the time of retirement will be Rs 27.30 lakh. Given the expectation of 10 per cent annualized return, the total investment will increase to Rs 2.46 crore. Now, if the NPS subscriber converts 40 per cent of the corpus into annuity, the value will be Rs 99.53 lakh. Assuming an annuity rate of 10 per cent, the monthly pension can be Rs 49,768. Not only this, the NPS subscriber will get a lump sum amount of about Rs 1.50 crore.
Benefits of NPS or National Pension Scheme
Less cost: NPS is considered to be the lowest cost pension scheme in the world. Administrative fees and fund management fees are also the lowest.
easy: All you have to do is to open an account with any of the POPs being run through all the Head Post Offices. India and obtain a Permanent Retirement Account Number (PRAN)
flexible: The applicant can choose or choose his/her own investment option and pension fund auto Option to get better returns.
Iportable: The applicant can operate an account from anywhere in the country and pay the contribution through any POP-SP, even if he/she is registered with the POP-SP branch, irrespective of his/her city, job etc. Yes and also contribute through eNPS. If the customer gets employment then the account can be transferred to any other sector like government sector, corporate model.
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