NPS Pension planning: How to secure retirement with Rs 50,000 pension monthly?
If you are looking for a good pension after your retirement, the National Pension Scheme can be a good option. Let's see how to invest in this scheme, which will pave the way for a pension of Rs 50,000 every month after retirement.
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FollowSenior citizens pension
Everyone expects to get regular income even after retirement. For this, they invest in different schemes. If you want to get a higher pension, investing in the Central Government's National Pension Scheme will be beneficial. This scheme is implemented by the Pension Fund Regulatory and Development Authority (PFRDA).
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NPS for Senior citizens
National Pension Scheme is a market linked government pension scheme. That is, the return on investment in this scheme is market based. This scheme is very popular in retirement planning. This scheme provides pension benefits as well as lump sum amount.
NPS investment
Even if you start investing in National Pension Scheme at the age of 40, you can get a pension of Rs 50,000. Now let's know how to invest for this and how much amount you need to deposit every month.
Pension planning with NPS
Any Indian citizen between the age of 18 and 70 can invest in National Pension Scheme. Whatever amount you invest in this scheme, that money will be divided into two parts. On retirement, you can take 60% of the amount as a lump sum. And 40% will be available annually. Your pension will be given from this annual amount.
Market linked pension scheme
If you want to get a monthly pension of Rs 50,000, you need to start investing in this scheme at the age of 40 and invest at least Rs 15,000 every month. You need to make this investment till the age of 65.
National Pension System
The total investment in 25 years will be Rs 45 lakh. If you get 10% interest on this amount, you will get Rs 1,55,68,356 from the interest. Accordingly, a corpus of Rs 45,00,000 + 1,55,68,356 = Rs 2,00,68,356 will be accumulated. 60% of this amount, i.e. Rs 1,20,41,013, will be available as a lump sum. The remaining 40%, i.e. Rs 80,27,342, will be the annual amount. Assuming that you get 8% interest on this, you will get a monthly pension of Rs 53,516.
