NPS Calculator for Retirement
Before you start using this Calculator to know the returns after retirement, it is necessary to know the meaning and benefits of having new National Pension Scheme account.
Who can open?
Any Indian citizen who are above 18 years old and below 60 year.
You will have to bear 0.010% of charges on total investment that will be paid to NPS department.
6,000 in every financial year
There are basically 2 rules when it comes to NPS withdrawal:
- There is limitation in terms of withdrawing NPS fund. You can’t withdraw more than 20% of the amount before 60 or retirement (whichever comes first).
- However you can withdraw 60% of the total investment after 60 or retirement.
How to use this NPS Calculator
It is one of the easiest National Pension Scheme (NPS) calculators available on web that help you to calculate the maturity amount along with total interest earns. Just enter the contribution amount along with total month or year you wanted to invest for and the interest rate. It doesn’t matter whether you want to use the Calculator for NPS SBI, ICICI or HDFC, this tool allow you to take care of all these things.
Being a web based tool, you don’t need any aaps or plugin to calculate the maturity amount.
Why Should I Invest in NPS?
That’s a good question. It’s well known truth that the NPS is considered among the best retirement plans in India. However the rate of interest on NPS is not fixed and might goes up and down every financial year. However it is also the fact that the NPS is operated and taken care of Govt. of India, therefore it is 100% safe. The NPA scheme is operated by a separate department known as PFRDA.
Additionally it provides better returns on investment as compare to PF or EPF.
Where I can open NPS account?
Please note that the NPS is purely voluntary scheme and the main motto behind it to provide pension after retirement. There are several ways to invest in NPS however the main categories are mentioned below:
- Central Government Scheme
- State Government Scheme
- Swavalamban Scheme
Additionally there are 7 top banks in India that help you to invest in NPS like:
|HDFC||HDFC Pension fund|
|ICICI||ICICI Pension fund|
|Kotak||Kotak Pension fund|
|LIC||LIC Pension fund|
|Reliance||Reliance Pension fund|
|SBI||SBI Pension fund|
|UTI||UTI Retirement Pension fund|
I have developed a tool dedicated for NPS calculation based on your monthly investment.
Kindly visit http://www.pfrda.org.in/ for more details regarding rules and regulation.