Wednesday, June 9, 2021

How is the National Pension Scheme Calculated in India?

 

How is the National Pension Scheme Calculated in India?

With the intention of introducing financial stability in the life of citizens, the Indian government launched the NPS (National Pension System) in 2004 which was initially referred to as the National Pension Scheme. NPS allows you to build a corpus provided that you are an Indian citizen or NRI and if your age falls between 18 and 60. It is a better option for those who are working in private firms because it helps them to earn a regular pension after retirement. 


The pension amount relies on the funds that will be accumulated in your NPS account till you retire. Also, it is very difficult to calculate NPS returns as it depends on the percentage of the NPS funds that you invested in various asset classes and their performance over the NPS tenure. However, to determine the pension that you can earn after retirement, you can utilize an NPS calculator. To use the NPS calculator, you will need to follow these steps:

Step 1: Enter your details 

Once you find an NPS calculator online, you can enter your basic details like your age, the age that you will retire, the amount that you wish to invest in an NPS account every month, etc. 

Step 2: Estimate the returns 

Based on these values, you will need to enter the rate at which you expect your savings to grow and select a percentage of pension wealth that you want to invest in an annuity that will generate a regular pension for you post-retirement. 


Step 3: Calculation of returns 


Once you enter these estimated values, the NPS calculator will predict the NPS returns. The amount that will be paid directly and the amount that will go into an annuity will also be displayed by the calculator. 


Better Investment Alternative

However, these figures can vary widely as the NPS does not provide a fixed return rate for your investment. The withdrawal policies of NPS are strict and it is more beneficial if you are planning for your long-term investment goals. For known the returns in advance you may invest in a fixed deposit scheme. Also, corporate FDs like Bajaj Finance FD offer higher interest rates and flexible investment options that help you attain your financial objectives easily. The main features and benefits offered by Bajaj Finance FD are stated below:

Higher returns 

With an FD interest rate of up to 6.75%, Bajaj Finance FD lets you earn sufficiently till maturity. For earning higher returns you can invest in a cumulative FD for a longer tenor. 


A higher FD interest rate of 0.25% is offered to senior citizens and if you invest through an online FD form, you become eligible for a 0.10% extra FD rate. 


Smart investment tool 

Bajaj Finance FD provides an FD interest rates calculator on its portal. This online tool lets you estimate the returns accurately. Also, with the help of this smart investment tool, you can decide the tenor, amount, and FD type that can complement your financial and investment needs. 


A flexible tenor that spans from 12 to 60 months helps you to pick a tenor as per your investment strategy. Also, if you want to ladder your deposits to gain extra liquidity options, you can opt for its multi-deposit feature.

Safe 

Bajaj Finance FD is a secure option for you as credit rating agencies like CRISIL and ICRA have bestowed it with their highest credit ratings. Also, not a single unclaimed deposit to date confirms that your investments are safe in this FD scheme.


Investing in NPS can be a smart move as it provides financial stability post-retirement. To get a rough idea about the returns offered by the National Pension Scheme, you can use an NPS calculator. However, it will be just a rough estimation as the returns will vary as per the performance of different securities in which your NPS funds get invested till you retire. To earn fixed and sufficient returns, you can invest in Bajaj Finance FD. It is offering a high-interest rate and its FD calculator enables you to predict the returns precisely. Moreover, features like multi-deposit facility, online investment method, FD calculator, flexible tenor, etc. make it one of the best investment options for you.


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