If you’re worried about your retirement (retirement planning), you can now build up a sizable fund by investing in the government scheme NPS. By putting little sums down, you can build up a sizable fund.
Assume you are 30 years old and make a
monthly payment of Rs 5000 into your NPS account. Your annual investment will be Rs. 60,000 in this manner. You will produce a total fund of about Rs 18 lakh over the following 30 years.
Let us inform you that if you continue
To make investments in this manner, you will receive Rs 1,13,96,627 at maturity. This will have an interest charge of Rs 95,96,627. Customers gain from compound interest in this, which benefits investors.
When you retire under the NPS Scheme, you have two alternatives.
The first is to invest all of your funds in an annuity plan and begin drawing a pension from it. The second option is to withdraw 60% of the money and invest the remaining 40% in an annuity plan. At least 40% of government scheme NPS must be put in an annuity plan upon retirement.
Let us explain why you will receive
a marginally lower pension if the customer chooses to invest 40% of Rs 1,13,96,627, or Rs 45,58,650, in an annuity. Assume you will receive 7-8% interest every year on this.
Let us inform you that,
In such a case, your pension will be approximately Rs 3,19,105-364,692 each year, or Rs 26,592-30,391 per month.
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