Pension calculator or retirement calculator is one of the calculators that helps you to understand how much you need to grow your wealth before you retire and how to plan for it.
Pension calculator is a beneficial instrument to select best pension plan and helps you in determining the amount you need to invest to build the corpus that you want to fulfill your goals and maintaining your living standards after retirement.
Pension calculator takes your expenses and expected rate of return on your investments into accountand determine the amount that you need to invest over your work life span to build a corpus and reach your goals.
Retirement Savings Calculator
Retirement Savings calculator is a part of pension calculator.
A retirement savings calculator help you figuring out that how much savings will an individual have at the time of retirement.
Savings calculator can help you determine your monthly contribution towards pension fund.
You can alter and change your plan in the event when your current savings are not meeting your future pension plans and this is only possible with the use of retirement savings calculator.
Retirement savings calculator also helps you deciding your age of retirement as it ascertains your retirement corpus.
Benefits of Pension Plan Calculator
Life after retirement is a big challenge as we generally don’t have any regular income and leading a happy life is an uphill task. So, in that case pension becomes very important. We need a proper calculation in order to reach our planned corpus. Pension plan calculator helps us in deciding our monthly contribution and it provider other benefits discussed below:
1. The basic motive of ascertaining how much you need to save in order to build your retirement corpus.
2. Pension plan calculator makes work life span easier and smooth as we know how much we need to work and save.
3. You can determine your retirement age.
Family Pension Calculator
Family pension in India is granted to the family of an employee in the event of his death while in service and also after retirement provided he was on the date of death in receipt of a pension or compassionate allowance.
Family pension calculation depends on the work condition of the employee. Family pension calculator takes into account the date of appointment of employment and date of retirement from employment.
Family pension calculator also takes into account if your death occurred while working or after retirement.
Commuted Pension Calculator
A commuted pension is a type of pension in which the pensioner receives a lump sum payment in lieu of traditional pension payments.
Commuted pensions pay the lump sum based on the length of employment and the age of the pensioner. There are several risks associated with taking the commuted value of your pensions with the risk of unsuitable pension after retirement.
Commuted pension calculator helps you in determining the remaining pension after surrendering part of pension to be received after retirement.
Gratuity calculator helps an individual in calculating their gratuity at time of their retirement.
Gratuity is paid to an employee in the case if he/she has served an employer for a minimum of five years.
Gratuity calculation can helps you in fulfilling and building your retirement corpus.
Calculate Savings on Average Monthly Investment
By using this calculator, you can determine how much will you save at the time of your retirement with the help of your monthly savings.
This calculator takes your average monthly savings into account and the time period for you will keep aside part of your savings for retirement.
You may also know about:
| New Pension Scheme