New Delhi: Planning for your pension after retirement? Whether a person is associated with a government job or a private company employee, the individual’s pension depends on the salary and the amount deposited in the pension fund. Therefore, people should make sure to deposit a substantial amount of money as per their need and expenses, so that the financial constraints remain at bay after one attains the age of 60.
Pension schemes are run by the government, by investing in which you can get a good amount after retirement. In this article, we inform you about a pension scheme in which you can invest Rs 20,000 monthly and get a pension of 1 lakh rupees after retirement. The name of this scheme is National Pension Scheme (NPS). Let us know about it and also understand the calculation of pension.
National Pension Scheme (NPS) calculator
The NPS was started by the central government in 2004. Initially, the scheme did not cover private sector employees. However, in 2009, the government also included private employees under the scheme. The scheme allows beneficiaries to withdraw 60 percent of the money deposited in it after retiring. At the same time, the remaining money of your savings is to buy your annuity plan, through which you get a monthly pension.
How to get a pension of 1 lakh
The National Pension Scheme is a retirement scheme for which one has to attain the age of 18. One should start depositing Rs 20000 per month in NPS from the age of 40 years and if an individual continues to make investments regularly till 60, the depositor will get a pension of Rs 1 lakh every month after retirement. Experts suggest to increase the investment by 10 percent every year.
It may be noted that the National Pension System Vatsalya (NPS Vatsalya) scheme was launched in September 2024 which is for minors. The NPS Vatsalya scheme allows parents to deposit a minimum of Rs 1,000 per month with no upper limit for their children. The parents can operate the account until the child reaches 18, at which point the account transitions into the child’s name. When the child reaches adulthood, the account can be converted into a regular NPS account or another non-NPS scheme, according to the rules mentioned by the government.
(Disclaimer – (Disclaimer: This article is only meant to provide information. News9 does not recommend savings in any savings, Fixed Deposit, pension scheme or buying or selling shares or subscriptions of any IPO, Mutual Funds and crypto assets.)
The National Pension Scheme (NPS) offers a path to a comfortable retirement. By investing Rs 20,000 monthly from age 40, you could potentially receive a Rs 1 lakh monthly pension after age 60. The scheme, available to both government and private sector employees, allows for 60% withdrawal at retirement, with the remainder used to purchase an annuity. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
