NPS Calculator
Plan your retirement with confidence using our NPS Calculator. Estimate your retirement corpus under the National Pension System (NPS) based on your contributions, expected returns, and investment duration.
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About NPS Calculator
Find answers to common questions about the National Pension System (NPS) and how our NPS Calculator can help you plan your retirement.
The National Pension System (NPS) is a government-sponsored pension scheme in India. It is a voluntary, defined contribution retirement savings scheme designed to enable subscribers to make defined contributions towards planned savings, thereby securing their future in the form of pension.
Our NPS calculator helps you estimate the amount of money you will have in your NPS account at the time of retirement based on your current contributions, the expected rate of return, and the time left until retirement. It also provides an estimate of the monthly pension you can expect.
The benefits of NPS include:
- Tax benefits under Sections 80C and 80CCD of the Income Tax Act.
- Flexible contributions based on your financial capability.
- Choice of investment options and fund managers.
- Regular pension income post-retirement.
NPS contributions are invested in various asset classes such as government bonds, corporate debentures, and equities. You have the flexibility to choose your preferred investment mix and fund manager, or you can opt for an auto-choice lifecycle fund that adjusts the investment mix as you age.
Partial withdrawals are allowed under NPS after 10 years for specific purposes like higher education, marriage, purchasing or constructing a house, and medical treatment of critical illnesses. However, full withdrawal is only permitted at the age of 60.
The pension amount under NPS is determined by the accumulated corpus at the time of retirement and the annuity plan you choose. A portion of the accumulated amount is used to purchase an annuity plan from a PFRDA-approved annuity service provider, which will then provide a regular pension.
Yes, contributions made towards NPS are eligible for tax deductions under Section 80C and Section 80CCD(1B) of the Income Tax Act. Additionally, up to 60% of the NPS corpus can be withdrawn tax-free at retirement.
In the unfortunate event of the subscriber's death, the entire accumulated pension wealth (100%) would be paid to the nominee or legal heir of the subscriber. There are no restrictions on such withdrawals.