How NPS Can Help You To Get ₹50,000 Pension Monthly? - Viral Bake
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How NPS Can Help You To Get ₹50,000 Pension Monthly?

‘Planning for your retirement is the crucial part of life to have a stable future ahead’ and the most important thing is the realisation of this statement at an early stage of life. The sooner you learn and plan about your retirement the more secure your future will be. And the best way to secure it is with Government backed pension schemes for example NPS or National Pension Scheme. To have a stable future ahead of retirement a person has N number of investment options across both public and government sectors. But out of all the NPS is the most favoured.

NPS Monthly Pension

NPS Retirement Scheme

NPS or National Pension Scheme is a government-backed retirement savings plan by availing which the investors will get a regular income after their working age after contributing a monthly amount until maturity. This scheme was originally launched for the Government employees but later the Centre allowed private sector workers and every willing citizen to invest in it voluntarily. NPS services are offered by the combined efforts of the Pension Fund Regulatory and Development Authority (PFRDA) and the government of India.

NPS Eligibility Criteria

  • NPS account applicants must be Indian citizens, whether resident or non-resident.
  • On the date of application submission, the applicant’s age must be in the range of 18-70 years.
  • Applicants must comply with the KYC norms under the scheme.

How To Use An NPS Calculator?

  • To use it first visit this link.
  • Enter your date of birth.
  • Now enter the details of your estimated investments like your monthly contribution amount and the date till which you want to contribute.
  • Now fill up your “expected return on investment and annuity return.”
  • After filling up all the details you will be able to analyse all the stats of your investment.

Also read:

Invest In Post Office Or SBI Monthly Income Scheme?

How To Earn ₹50,000 Monthly Pension Amount With NPS?

“If a person joins the NPS at the age of 25 and starts contributing Rs 6,500 a month. The total contribution will be Rs 27.30 lakh till the time of retirement. Given the expected 10 per cent return annually, the total investment will grow to Rs 2.46 crore. Now, if the NPS subscriber converts 40 per cent of the corpus into an annuity, the value will be Rs 99.53 lakh. Assuming the annuity rate of 10 per cent, the monthly pension can be Rs 49,768. Not only this, the NPS subscriber will get a lump sum amount of about Rs 1.50 crore,” as per New18.

Rishabh Sharma

Rishabh is an experienced content writer and editor, he is working for Viralbake to cover a diversified range of categories. His articles mainly focus on providing information, being a travel guide, educating others, and also making people aware of technology, after all, he is a technophile. When not writing he can be found gaming, watching movies, and travelling.

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