Let's discuss NPS today.

The new pension scheme, which the government describes as very good for the employees, but its future is not known to anyone.  Today I will explain to you a simple calculation that what happens in the NPS after that you will tell yourself whether it is a boon or a curse for the employees.

Let's talk about a government employee whose job is considered to be at the age of 32, then he is registered for NPS and let's assume here that after 1 year his contribution to NPS has started to be deducted.

We take an average of Rs. 6000 in the entire life span of that employee that if his NPS is cut so much, then calculate how much he has accumulated -

6000 × 12 months × 28 years = 2016000 (twenty lakh hundred thousand rupees)

Now suppose 14% of the government also contributes to it, then the government's contribution is made -

2822400 (twenty eight lakh twenty two thousand four hundred rupees)

The sum of both is -

2016000 + 2822400 = Rs 4838400

If you have given your income tax on this amount, then we make a rough estimate of only 10%. The amount that remains after the income tax deduction is now-

4354560 Rs

Suppose there is a benefit of 12% at the time of retiring in it, as claimed by the government, then the total deposit has become now-

Rs 4877108

Now, you have to make a choice of how much to get 60% or 40% of this amount.  Suppose I need more, then I withdraw 60%, then my withdrawal is done.

Rs 2926265

Keep in mind that you have to pay tax on this amount.  Even here, if you apply only 10% income tax while it will be more, then the remaining amount has become what we got in pure form-

2633638 Rs

You got back even less than what you had deposited.

Now let's calculate pension in an easy way.

40% of the remaining amount is now-

1950843 Rs

On this, the calculation of pension will be done in such a way that you will get pension till the age of 100 years, it will be received from it, if you are retired in 60 years, then the calculation of pension for 40 years

1950843 ÷ 40 = Rs 48771 Annual pension you will get.

Calculate Monthly Pension

48771 ÷ 12 = Rs 4064

Now think to yourself whether a pension of Rs 4064 is enough for you after 30 years.

In the next issue it will be compared to the old pension with GPF till then stay connected with us and subscribe to us.  At the top is the option to subscribe.