PERSONAL FINANCE
Retirement planning should begin from the time you step into your first job so that maximum pension benefit can be received at the time of retirement.
If you work in a private company and do not have a pension benefit then the National Pension System (NPS) can prove to be a beneficial option for investment. By investing in this scheme, you can make a big corpus for retirement so that the pension keeps coming regularly. Here we are giving you complete information about this scheme.
Retirement planning should begin from the time you step into your first job so that maximum pension benefit can be received at the time of retirement. If one invests Rs 4,500 every month in NPS from the age of 21, then till the age of 60, he will be able to invest for 39 years.
Read | NPS scheme: Four reasons for investing in National Pension System
That is, at the rate of Rs 54,000 annually, his investment in 39 years will be Rs 21.06 lakh. If an average return of 10% is given in NPS, then on maturity, he will get Rs 2.59 crore. Accordingly, on retirement at the age of 60, a pension of Rs 51,848 will be received every month.
This calculation has been done on an estimate. By the way, on an average, 8 to 12% returns are available in National Pension System (NPS).
In National Pension System, if you take an annuity of 40% and the annual rate of annuity is 6%, after retirement you will get a lump sum of Rs 1.56 crore. The remaining Rs 1.04 crore will go towards annuity. Pension will be given every month from this annuity. The higher the annuity amount, the higher will be the pension.
You can open NPS account online. For this, open Enps.nsdl.com/eNPS or Nps.karvy.com.
Once the page is opened, click on New Registration and fill all the details including your mobile number.
Now your mobile number will be verified with OTP. After that fill the bank account details.
Select your portfolio and fund.
Fill in the requested information.
You will have to upload the canceled check of the bank account whose details you have filled, your photo and signature.
After this, invest as much as you want in NPS.
After making the payment, your Permanent Retirement Account Number will be generated. Payment receipt will also be available.
After investing, go to the e-sign/print registration form page. Here you can register with PAN and Netbanking. With this your KYC (Know your customer) will be done.
While registering, keep in mind that the details you have given in the bank account should match with that.
22 banks are currently offering the facility of online NPS. Their complete information will be found on the website of NSDL.
All set for vote counting in Jharkhand tomorrow; NDA, JMM-led alliances confident of winning
Watch: Australia star inquires Rishabh Pant about his next IPL team, gets 2-word reply
Shah Rukh Khan’s house Mannat was first offered to his industry rival…, but he refused because...
The Visionary Who Promises a Blue Sky for India: Holger Thorsten Schubart’s G20 Climate Speech
The Surge of High-End Living: Luxury Residential Market to Outpace Other Segments
FeFCon 2024 to be Held in Bangalore: A Premier Event on Fever Management
'That’s wild': Noida man turns cigarette butts into teddy bears in viral video, watch
London Airport evacuates passengers over security threat, thousands stranded
The World’s First Innovative Iron Supplement to Combat Iron Deficiency and Anaemia
Meet grandmother who became fashion icon after trying on her granddaughter’s clothes
IND vs AUS: Rishabh Pant joins Virat Kohli, Rohit Sharma in elite WTC list, becomes 3rd Indian to...
'All scripted drama...': Puneet Superstar allegedly assaulted by influencers in viral video, watch
Actress Ana de Armas caught kissing Cuban President Miguel Díaz-Canel’s son in viral photos
Oreshnik's Shadow: Will Russia's hypersonic missile force west to back down?
‘You’re So Beautiful’: World’s tallest woman meets world’s shortest woman over tea, pics go viral
Delhi-NCR Air Pollution: Consequences of GRAP-4 are drastic, may have adverse effects, says SC
Delhi-NCR Air Pollution: Schools likely to stay closed till..., check city-wise update
Maharashtra: 3 killed, 9 hospitalised after gas leak at fertiliser plant in Sangli
THIS farm is selling a cup of coffee for Rs 28000, but there's a twist, it is...
Chhattisgarh: 10 Maoists killed after encounter with security personnel in Sukma
Mukesh Ambani's SUPERHIT plan for Jio users, offers unlimited 5G access for 1 year for just Rs...
IND vs AUS 1st Test: KL Rahul's dismissal sparks DRS controversy in Perth Test
Dense fog, heavy rain predicted in these states till November 25; check here
Oreshnik Hypersonic Missile: Which nations are within its range?
Bihar teacher, principal reach school in drunken state; know what happened next
'I have faced a lot of...': Arjun Kapoor REVEALS his biggest fear amid break up with Malaika Arora
How millions of Indians may get affected due to US indictment of Gautam Adani in bribery case
Amid divorce rumours with Aishwarya Rai, Abhishek Bachchan says 'missing someone is okay but...'
After Bibles, watches and sneakers, Donald Trump is now selling autographed guitars, price is...
Delhi pollution: Air quality improves to ‘very poor’ category, AQI at...
Vladimir Putin's BIG threat, warns he could strike UK with new ballistic missile if...
Shillong Teer Results TODAY November 22, 2024 Live Updates: Check winning numbers here
Somebody misbehaved with Alia Bhatt on Highway sets then Imtiaz Ali had to...
Zomato CEO Deepinder Goyal reveals twist behind Rs 200000 job fee, closes application window
Days after Ratan Tata's demise, Tata Group's Rs 131000 crore company inks pact with ADB for...
WATCH: Woman makes Biryani with Parle-G biscuits, viral video fumes internet
Only train in India in which passengers can travel for FREE; check route, timings and more
'Justice for biryani': Parle-G biryani takes internet by storm, video goes viral
DNA TV Show: Why Gautam Adani charged with bribery and fraud in US
IND vs AUS: Records Virat Kohli can break during Border-Gavaskar Trophy
Diljit Dosanjh fans get angry over Ananya Panday's birthday post for her grandmother, here's why