NPS Retirement Planning: It takes no rocket science to become a millionaire, but you do need to invest regularly and choose the appropriate strategy. We’ll explain to you how to receive a monthly pension of up to Rs 2 lakh after retirement.
NPS Pension Calculator: Everyone is worried about retirement expenses. You should start making plans now if you want to live a secure old age and not have financial difficulties later in life. Only the day your career begins should you start saving for retirement. The amount of money you will have before retirement increases the earlier you start saving. To assist you in increasing your retirement savings, you have a number of investing options at your disposal, including the EPF, NPS, stock market, mutual funds, real estate, etc.
NPS Pension, The government has numerous programs in place.
The central government has created several investment-based plans to help you protect your retirement. If you now hold a job, you probably also believe that you will receive a large monthly pension when you retire. But to do this, you must start investing right away. Only then will your retirement after 60 years be secure.
What is the NPS Scheme?
A national pension program that combines both equity and debt instruments are the National Pension System (NPS). The government provides NPS with a guarantee. If you want a greater monthly income after retirement, you should invest in the NPS scheme.
Income Tax Rebate
Like Employees Provident Fund (EPF), Sukanya Samriddhi Yojana, and Public Provident Fund (PPF), NPS Pension Scheme is a government program. By utilizing the maturity amount properly, any investor can also raise the amount of his monthly pension in this. Can save up to Rs 2 lakh in taxes each year by using NPS. You can reduce your tax liability by a maximum of Rs 1.5 lakh according to Section 80C of the Income Tax. You would receive an additional tax exemption of up to Rs 50,000 if you invest in NPS.
You’ll get a monthly pension of Rs. 2 lakh.
You will receive Rs. 1.91 crores if you invest Rs. 5000 into NPC every month for 40 years. You will thereafter receive a monthly pension of 2 lakhs upon investing the maturity amount. You will also receive a return of Rs. 1.43 lakh and Rs. 63,768 per month under this from the Systematic Withdrawal Plan (SWP). In this, the annuity will continue to pay a monthly pension of Rs 63,768 as long as the investor is alive.
63,768 rupees per month in a pension over 20 years
You can expect to receive a lump sum maturity payment of 1.91 to 1.27 crores if you deposit Rs 5000 each month from the time you start working to the time you retire. Following this, you can receive a 6% return and a monthly pension of Rs 63,768 at Rs 1.27 crore.
There are two types of NPS, NPS comes in two varieties: NPS Tier 1 and NPS Tier 2. Tier-1 requires a minimum investment of Rs. 500, while Tier-2 requires Rs. 1000. There is no upper limit on investment, though. In NPS, there are three investment alternatives from which the investor must select where his funds will be placed. Government bonds, corporate debt, and equity. Higher returns are also provided with more exposure to equities. Remember that you should only invest in consulting your investment advisor.
Read More: Old Pension Scheme News, Government will implement Old Pension Scheme!
| |
 Facebook Page | Click Here |
| Twitter | Click Here |
| Instagram | Click Here |
| Google News | Click Here |
