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How to Get Pension, Here are details

Pension or future planning is usually the biggest consolation after retirement for those in the private sector. But if you are in the private sector, you can also get good pension after retirement, you just have
to take advantage of the special scheme of National Pension System (NPS) of the government. Any Indian citizen who is employed by the government scheme National Pension System can join, whether it is in government service or in private. Know the specialty of this scheme.

What is NPS?

National Pension System is the NPS government’s retirement savings scheme. The Central Government started it on 1 January 2004. This scheme is mandatory for all government employees who are joining this date. However since 2009, this scheme has also been opened for those working in the private sector.

Any person working in the private sector can be involved in this plan on their own. At the same time, after retirement, the employees can withdraw one part of the NPS and after retirement they can take Annuity for regular income.

Which age can be included

Any Indian citizen whose age is between 18 to 60 years can be included in the scheme. It is necessary to follow the Know Your Customer (KYC) rules to join this scheme.

How will the account open?

Government has made a point of presage to the government and private banks for the scheme in the National Pension System (NPS). You can open an account by visiting any nearest bank branch. For this you need berth certificate, 10th degree, address proof and eye card. The registration form gets from the bank.

What to do to get a pension of 60 thousand rupees

# If you join the age of 25 in the scheme, by the age of 60, that is 35 years, you will have to deposit 5000 rupees every month under the scheme.
# The total investment made by you will be 21 lakhs.
# If the estimated return on the total investment in the National Pension System (NPS) is estimated to be 8%, then the total corpus would be 1.15 crores.
# If you buy 80% of the amount from the annuity, then the value will be around Rs 93 lakh.
The #lump even value will be close to Rs 23 lakh.
If the # annuity rate is 8% then after the age of 60 there will be a pension of about 61 thousand rupees every month. Also a separate fund of Rs 23 lakhs.

(Note: In the National Pension System (NPS), it is necessary to buy an annuity of at least 40 per cent of the amount in the scheme, which can increase the amount of annuity for more pension, here we are here on the online SBI Pension Fund calculator and the National Pension System calculator. 80% of the sum is calculated on the purchase of annuity.)

Who gets the responsibility of investing

The responsibility of investing money deposited in National Pension System (NPS) is given to PFRDA registered pension fund managers. There are now 8 fund managers linked to the scheme which invest your money in fixed income instruments in addition to equity, government securities and non-government securities. Subscribers can choose from or make changes from these.

There are 2 types of accounts

There are two types of Tier 1 and Tier 2 accounts under the scheme. Opening a Tier 1 account is essential, while the Tier 2 account can start opening any Tier 1 account. The Tier 1 account can not be fully funded before the age of 60 years. While investing in Tier 2 accounts with your own will or withdraw funds.


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