Want Rs 50,000 pension monthly? THIS national scheme has you covered
First Published | Nov 23, 2024, 3:59 PM ISTStarting investments in the National Pension System (NPS) at age 40 can yield a monthly pension of ₹50,000 after retirement.
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Pension planning
Investing in the National Pension System (NPS) is a good choice for securing a substantial pension after retirement. Starting at 40 can yield ₹50,000 monthly.
National Pension System
People invest in various schemes for a stable income post-retirement. Pension schemes are a popular choice. The National Pension System (NPS) is a good option for a higher pension.
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NPS Benefits
The NPS is a government-backed, market-linked scheme. Returns are market-based. Besides a pension, it offers a lump-sum amount. Starting investments at 40 can yield a ₹50,000 monthly pension.
NPS investment
Any Indian citizen aged 18-70 can invest in NPS. Investments are split into two parts. Upon retirement, 60% can be withdrawn as a lump sum, and 40% is invested in an annuity for pension.
Pension Schemes
The Pension Fund Regulatory and Development Authority (PFRDA) manages NPS. To get a ₹50,000 monthly pension, start investing at 40 with a minimum of ₹15,000 monthly until 65 (25 years).
Senior Citizen Pension
With a monthly investment of ₹15,000, the total investment becomes ₹45 lakhs. At a 10% interest rate, the return is ₹1,55,68,356. The corpus becomes ₹2,00,68,356. 60% (₹1,20,41,013) is lump-sum, 40% (₹80,27,342) is annuity. At 8% annuity return, the monthly pension is ₹53,516.
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