12:47 Apr 23, 2014  

National Pension System (NPS)

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Retirement Planning is all about, knowing your real retirement costs, building a kitty by investing prudently and having a systematic withdrawal plan from your kitty post retirement.


A systematic withdrawal plan from your retirement kitty is as integral as your savings strategy.
Giving the increase in longevity, retirement kitty has to be frugally utilised over a period of time.

Here is where National Pension System (NPS) perfectly fits in as a financial solution for retirement planning.


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NPS- a contribution retirement scheme, regulated by the PFRDA helps you build a retirement corpus in a systematic manner during your working life. On retirement, you can withdraw up to 60% of the corpus as lump sum amount. The balance will be saved in form of annuities, which comes back to you as a monthly pension. You even have the option of taking the entire corpus as a monthly pension.

 

  6 Reasons to choose NPS

  • Tax benefit: Tax exemption under Section 80 C on your contribution 
  • Regulated: By PFRDA, which is backed by the Government of India
  • Flexible: To switch between investment options (once a year) depending upon market conditions.

  • Beats inflation: Earn market-linked returns if you opt for equity investment
  • Systematic saving: You can start saving as low as Rs 500 per month or Rs 6000 per year.
  • Cost effective: The cost-adjusted returns of the NPS can be quite attractive in the long run.

 


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