NPS scheme: How to get Rs 50,000 monthly pension?

NPS stands for National Pension Scheme, a plan designed to provide financial security to the public in old age. A good amount can be received as a pension through this scheme. This scheme allows you to get a fixed income every month.

This scheme was initially launched only for government employees. Later it was extended to all citizens of the country. Here's how to get a pension of more than Rs 50,000 per month from this scheme.

This scheme is market-linked. That is, no matter how much money is invested in it, the return on it is determined based on market fluctuations. There are two types of accounts in this scheme, Tier 1 and Tier 2. Anyone can open a Tier 1 account. To open a Tier-2 account, it is necessary to have a Tier-1 account.

After crossing 60 years of age, 60% of the total amount invested in this scheme can be withdrawn at once. Let's see how much income will come from continuing the remaining 40% in the scheme. This income is received as a monthly pension. This income keeps changing depending on the market situation.

If you start investing in this scheme at the age of 35, you have to invest until the age of 60. That is, you have to invest in this scheme for 25 years. A minimum of ₹15,000 should be invested every month. According to the NPS calculator, if ₹15,000 is invested every month for 25 years, the total investment will be ₹45,00,000. This earns a 10% interest of ₹1,55,68,356.

In this way, when you reach the age of 60, the total will be ₹2,00,68,356. Out of this, 60% of the amount, i.e., ₹1,20,41,014, can be taken together. The remaining 40%, i.e., ₹80,27,342, will be converted into your pension amount. If this earns 8% income, you will get a pension of ₹53,516 every month.