NPS Calculator: The central government is introducing a great scheme to strengthen people after retirement. If you are also thinking about improving your retirement or your family’s future. Then the NPS scheme can prove to be great. This is a great retirement plan. By investing in it correctly, you can make retirement tension-free. In this scheme of NPS, every citizen between the ages of 18 years to 70 years can open an account. NRIs are also eligible for this.
Let us tell you that most people invest in it keeping in mind retirement at the age of 60 years, but if you extend this scheme for 5 more years after 60 years. This is not only your pension but also your retirement corpus. You can easily understand this.
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Know the NPS calculator for 30 years of planning
Suppose you join NPS at the age of 30 years and the investment period of the scheme is 30 years, then the investment in NPS is 5 thousand rupees every month. The investment top-up after every year is 10 percent. At the same time, the estimated return on investment is 10 percent per annum. At the same time, the total cost of the investment over 30 years is Rs 3 crore. After this, the investment in the annuity plan is 50 percent. The annuity rate is estimated to be 8 percent. If the pension wealth is about one and a half crore rupees, then the monthly pension is about 1 lakh rupees.
NPS calculator for 35 years
If you join NPS at the age of 30 years and invest 5 thousand rupees every month, then after every year, the top-up in the investment is 10 percent. The total investment in the period of 35 years is Rs 98 lakh 69 thousand 641. In this, the total copper becomes Rs 5.66 crore. If the investment in its annuity plan is 50%, then the estimated annuity rate will be 8%. Talking about pension wealth, the pension wealth becomes Rs 2.83 crore. After which, a total of Rs 2.83 crore can be withdrawn. After this, the monthly pension will be Rs 1.89 lakh.
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Know how much the increase will be
According to the calculator, on extending 5 years, the pension has increased from Rs 1 lakh to Rs 1.89 lakh. At the same time, the retirement fund has increased from Rs 1.5 crore to Rs 2.83 crore. This means that there is an increase of 88 percent in the pension and lump sum fund. Tax benefit is available on investment in NPS under three different sections of the Income Tax Act 1961. A part of it is invested in equity, so the return is not guaranteed.