National Pension System (NPS) is a PFRDA (Pension Fund Regulatory and Development Authority) regulated comprehensive pension scheme for Indian residents. The market-linked pension scheme offers the creation of a retirement corpus to buy an annuity scheme at the age of 60. The subscribers under the NPS scheme need to contribute to their accounts till the age of 60. During retirement, at the age of 60, a maximum of 60% of the accumulated corpus is allowed to withdraw as a lump sum, and the remaining funds will be applicable for buying an annuity plan. An annuity scheme is a fixed-income plan against a one-time investment that enables a periodic cash inflow with a fixed rate of interest for a person's entire life. The NPS calculator helps to estimate the return and expected pension on the maturity of an NPS account.
Finlive's NPS/ National Pension System Calculator or NPS Pension Calculator is a FREE online tool that lets you calculate how much wealth and the expected pension you can expect from your NPS account at the time of your retirement. The calculator helps you to determine your monthly contribution and how much you need to increase to create the optimum wealth that can be sufficient for your retirement life.
The NPS calculator can be useful for those who have an NPS account and will also be useful for those who are going to open an NPS account in the future. Anyone whose intention is to get an idea about the corpus and the pension amount during retirement can use this calculator.
NPS Calculator is an easy-to-use tool that helps estimate the returns of a National Pension System account. Here are the usage steps of the NPS Calculator:
NPS Calculator enables you to measure the inflation effect on your retirement corpus and monthly pension. Here are the steps to use NPS Calculator with inflation:
NPS Calculator can also accept the percentage of incremental growth of your contributions over the year. This feature is helpful when you plan investments for a long horizon. Not only for a fixed monthly contribution but also you can get an estimation if you increase the contribution a certain percentage every year. In order to use this feature, you need to enter an amount as "Yearly Increase Contribution (%)" from the Advanced Options group.