National Pension System: We work day and night for tomorrow’s planning. To have a good tomorrow, we collect money, invest in different schemes. Because after retirement neither the body supports nor the income. The power of both starts decreasing. That is why it is important that even if no one has seen yesterday, there must be concrete planning.
There are many types of retirement plans in the market today, on the basis of which we can secure our tomorrow. The National Pension System, being run in collaboration with the government, is a better option for retirement planning. Investment in this scheme can be started from the age of 18. The biggest advantage of starting investing at an early age is that you can accumulate a huge corpus by the age of retirement.
how to open account
NPS account can be opened both online and offline. You can open this account by visiting any bank. Apart from this, account can also be opened through enps.nsdl.com or enps.karvy.com.
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If an investor invests Rs 5,000 every month in the National Pension System from the age of just 18 years, then after retirement he will be entitled to get a good amount in the form of pension. Because from the age of 18 to 60 years i.e. till 42 years, he will get an opportunity to invest in this scheme.
Learn Complete Mathematics
Rs 5,000 per month, Rs 60,000 will be deposited in NPS in a year. In this way, Rs 25.20 lakh will be deposited in this account during 42 years. If the return of 10% every year on this investment is considered, then on maturity this amount can be more than Rs 3.5 crore. Transfer 40 percent of this deposit to the annuity. In this way, after 60 years, the investor will get a pension of more than one lakh rupees every month.
If you take 40 percent annuity and the annuity rate is 8 percent annually, then after retirement you will get 2.28 crores in lumpsum and 1.52 crores will go into annuity. Now from this annuity amount, you will get a pension of Rs 1,01,390 every month. The higher the annuity amount, the higher the pension you will get.
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The amount deposited under the National Pension System is eligible for tax exemption of up to Rs 50,000 under section 80CCD(1B) of the Income Tax Act.
what is annuity
An annuity is an agreement between the investor and the insurance company. Under this, it is necessary to buy an annuity of at least 40 percent of the amount in the National Pension System (NPS). The amount invested under annuity is received in the form of pension after retirement and the remaining amount can be withdrawn in a lump sum. The responsibility of investing the amount deposited in NPS is given to the pension fund managers registered by PFRDA. They invest your investments in equity, government securities and non-government securities apart from fixed income instruments.
Tags: nps, pension fund, pension scheme, retirement fund
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