The NPS calculator assists NRIs/PIOs/OCIs/Expats in determining the pension, lump sum, or annuity amount they will receive as subscribers of the scheme upon retirement. This tool provides valuable insight into the required monthly contributions you need to make to accumulate a substantial corpus for retirement.
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The National Pension Scheme (NPS) is a government-backed retirement plan that caters to the needs of individuals, including Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs), Overseas Citizens of India (OCIs), and Expatriates living abroad. It is designed to enable individuals to accumulate a retirement corpus through systematic contributions during their working years.
India is a rapidly growing economy, which offers a variety of investment opportunities. NRIs/PIOs/OCIs/Expats can greatly benefit from the NPS due to its flexibility, tax benefits, and potential for substantial returns in the long run. By participating in this scheme, NRIs/PIOs/OCIs/Expats can secure their financial future while also contributing to the economic development of India.
Expected Return on Investment
Percentage of Corpus Allocated for Pension
Expected Return from Pension
The NPS calculator assists NRIs/PIOs/OCIs/Expats in calculating the pension, lump sum or annuity amount they will receive as subscribers of the scheme upon retirement. This provides valuable insights into the necessary monthly contributions to accumulate a substantial corpus for retirement.
As the significance of retirement planning becomes more apparent, the National Pension Scheme calculator gains traction among NRIs/PIOs/OCIs/Expats. By aiding in the assessment of required contributions, the calculator streamlines retirement planning.
Read Here: Pros and Cons of NPS
Here are some of the salient features of the National Pension Scheme (NPS) Calculator for NRIs/PIOs/OCIs/Expats:
You can use the NPS calculator online in a very easy way, whether you are an NRI, PIO, OCI, or an expatriate.
It helps you calculate the amount of pension you will receive, catering to the specific needs and circumstances.
The NPS Calculator also provides insights into the total investment amount, the returns earned on your investment, and the amount you will receive at the time of maturity, taking into account the unique financial considerations of NRIs/PIOs/OCIs/Expats.
The NPS calculator streamlines the computation of the maturity amount, ensuring it aligns with the regulations and requirements applicable to NRIs/PIOs/OCIs/Expats.
**Note: The investors of National Pension Scheme can check the tax exemptions available under Section 80C
Following are the benefits of the best National Pension Scheme (NPS) calculator for NRIs/PIOs/OCIs/Expats:
It saves time, as you do not need to do any manual calculations.
You can have a clear knowledge of how much investment you need to make to achieve the desired pension amount.
Moreover, it also helps you to do financial planning more efficiently.
With the help of a one-stop NPS calculator, NRIs/PIOs/OCIs/Expats can know the estimated amount they will receive as a pension after retirement.
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To use Policybazaar's National Pension Scheme Calculator NRIs/PIOs/OCIs/Expats, follow these steps:
Step 1: Select your current age in years.
Step 2: Specify the amount you plan to invest in the National Pension Scheme every month
Step 3: Provide the anticipated rate of return on your investments
Step 4: Decide the percentage of the accumulated corpus that you want to allocate for receiving a pension in the future
Step 5: Enter the expected rate of return for the pension phase
Step 6: Click on the "View Plans" button to compare the curated pension plans and funds, keeping in mind the offerings tailored for NRIs/PIOs/OCIs/Expats.
**Note: After filling in these required fields, the calculator will process the information and provide you with an estimate of your potential pension amount based on your input.
The best National Pension Scheme Calculator uses compounding interest to compute returns. Let us take a look at the formula for calculating NPS pension.
A = P (1 + r/n) ^ nt
In this equation, the maturity amount is denoted as A. The other variables are as follows.
|R||Interest rate per annum|
|N/n||Number of times interest compounds|
Let us understand the NPS calculation with the help of an example:
Simran, a 36-year-old NRI, invests Rs. 10,000 monthly in the National Pension Scheme with a projected 9% interest. Anticipating retirement at 60, she allocates 40% of her corpus for pension, with an expected rate of return of 7%.
The status of Simran’s Pension account at the time of retirement, as generated by the NPS calculator, will be as follows:
Total Investment- ₹28.8 Lacs
Maturity Amount- ₹1.02 Cr
Lumpsum Amount at the age of 60 Years- ₹61.3 Lacs
Pension Wealth at the age of 60 Years- ₹40.8 Lacs
Monthly Pension- ₹23,827
The NPS calculator is a useful tool that helps NRIs/PIOs/OCIs/Expats plan for their retirement. By providing them with an estimate of the pension, this tool allows them to make informed decisions about their future and take the necessary steps to secure a comfortable retirement.
Check out: How to Plan Retirement Income in India?
*All savings are provided by the insurer as per the IRDAI approved insurance
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
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