Open This Account Easily And You Will Get Rs 30 Thousand Monthly
Retirement planning is necessary for everyone. There are many options for this. National Pension System (NPS) is one of them. Any person can open an NPS account while in a job and can make regular contributions to the pension account. The responsibility of investing the amount deposited in the NPS is given by the PFRDA to the registered pension fund managers. They invest your investments in equity, government securities and non-government securities as well as fixed income instruments. You can also take advantage of tax exemption by investing in this account. Under NPS, under Section 80CCD (1B) of the Income Tax Act, you get the benefit of tax rebate on investments up to Rs 50 thousand.
The facility of opening two types of accounts is available in the National Pension System (NPS). Tier-1 account is a pension account. At the same time, Tier-2 account is a voluntary savings account. NPS subscribers who have Tier-1 account can open Tier-2 account. For this, offline or NPS portal can be used.
How to arrange for Rs 30 thousand monthly
We have considered the average age of the investor here as 25 years. At the same time, a monthly contribution of Rs 5000 has been made as base. If you join the scheme from the age of 25, then you will have to invest in it till the age of 60, that is, 35 years.
Monthly investment in NPS: Rs 5000 (Rs 72,000 annually)
Total contribution in 35 years: 21 lakh rupees
Estimated Return on Investment: 8%
Total amount on maturity: Rs 1.15 crore
Annuity purchase: 55%
Estimated Annuity Rate: 6%
Pension at the age of 60: Rs 31,750 per month
One time cash: 51 lakh
Note: Here we have done a calculation on purchasing annuity with 55% amount on NPS calculator. An annuity is a contract between you and the insurance company. Under this contract, it is necessary to purchase an annuity of at least 40 percent of the amount in the plan in the National Pension System (NPS).
How to open an online account
Before opening an account you must know first of all what documents are required to open the account. The following documents are needed:
- Aadhaar or PAN card
- Net banking facility for opening online account, debit card or credit card.
- Passport-size photograph
- Signed photo
Here the guidelines to open the NPS account
- First of all, you go to the NPS Trust website. https://www.npstrust.org.in/content/open-your-nps-account-online
- After this, the user has to click on the link for new registration on the online subscriber registration page.
- Then enter the Aadhaar or PAN number. You will get one time password related to this on mobile. Verify this.
- After inserting the OTP, the user has to click on the button of Continu. After this the user will have an enrollment number generated.
- Along with this, the username will also be there. On pressing the OK button, the user has to fill his personal details.
- Then the bank details will be sought from the user.
- After this, a permanent retirement account number ie PRAN will be found.
- With its help, you can log in to NPS.