Secure your retirement! Know how you can earn Rs 50,000 pension with National Pension Scheme

The Central Government has formulated the National Pension Scheme. By contributing a small amount each month, you can receive a lump sum and a monthly pension after retirement. Let's explore this scheme in detail.

National Pension Scheme

Regardless of your occupation, retirement is inevitable at 60. Saving a portion of your earnings ensures a comfortable life post-retirement. The Central Government introduced the National Pension System (NPS) for this purpose.

To receive a substantial pension even without income during old age, consider joining this Central Government scheme. This ensures financial stability for daily expenses after 60.

The Central Government's NPS offers two account types: Tier 1 and Tier 2. Anyone can open a Tier 1 account, but a Tier 2 account requires an existing Tier 1 account.

Central Government Scheme

This scheme requires a fixed monthly investment. At 60, 60% of the invested amount is disbursed as a lump sum. The remaining 40% is calculated annually, forming the basis for your pension.

For instance, if someone invests Rs 15,000 monthly in NPS from age 35 for 25 years (until 60), the total investment becomes Rs 45,00,000. With interest of Rs 1,55,68,356, the total corpus reaches Rs 2,00,68,356.

State Government Scheme

60% of this (Rs 1,20,41,013) is received as a lump sum at 60. The remaining 40% (Rs 80,27,342) forms the annual corpus. With 8% interest, the monthly pension becomes Rs 53,516.

This is just an example. The lump sum and monthly pension are calculated based on your monthly investment.