New Pension Scheme

It is important for a country to have a well-defined pension arrangement enhancing strong social structure. Pension and retirement benefits provide sense of security to an individual and also acts as a source of investment. The New Pension Scheme is a contribution based pension scheme in which any individual can contribute towards their retirement fund. Earlier pension systems in the country used to be provided only by employers i.e. private and public employers. But new pension scheme introduced by the government is a flexible mode of retirement scheme in which any individual in the country can start investing towards retirement fund. This is easily the best investment scheme in the country to maintain standard of life after retirement.

Read more
Best Pension Options
  • Get Tax Free Pension For Life

  • Flexibility to withdraw fund value any time

  • Guaranteed Tax Savings

    Under Sec 80 C & 10(10D)

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Invest ₹6,000/month & Get Tax Free Monthly Pension of ₹60,000

Get the best returns & make the most of your Golden years

+91
View Plans
Please wait. We Are Processing..
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp

New Pension Scheme is an effort of the government to reduce its pension liability and also helping general public to decide where to invest their money. It is a two tier contribution based investment structure in which an individual has full authority to decide where to invest his money. As already told it is a two tier structure consisting of tier I and tier II. The working of whole pension system is very simple. Tier I of the pension structure does not allow you premature withdrawal while tier II of the structure can be used for any withdrawal before maturity. The minimum contribution for any individual is RS 500 per month or RS 6000 annually. Below are some of the advantages offered by New Pension Scheme to an individual:

  • Cost effective: The cost of investing in new pension scheme is almost negligible whereas the cost of investing in alternate funds like mutual funds is very high. You incur entry and exit loads upon investment in mutual fund schemes. The fund management cost is very low, which will enhance the returns.
  • Freedom to entry: New pension scheme allows anyone from the age of 18 till 55 years to enter and invest into this pension scheme. Earlier in the old pension schemes, only central government employees had the option to invest in pension scheme but new pension scheme provide this facility to anyone contributing to prosperity of people of India.
  • Investment opportunities: The new pension scheme has a unique feature that provides every opportunity to an individual to invest in variety of funds and yielding maximum returns from their investments. Returns from investments in turn help an individual to reach and attain their investment objectives and future goals. An individual can also rebalance their accumulated fund free of cost and can be invested in any fund.
  • Tax implications: There is no tax implication for an individual if they chose to invest in new pension scheme. An individual is provided tax benefit over and above RS 1 lakh under section 80C of income tax laws.
  • Security to the nominee: In case of death of the contributor, the nominee to the beneficiary receives the accumulated amount in lump sum. So, it provides sense of security to the nominee as well.

Pension plans articles

Recent Articles
Popular Articles
Annuity Method Of Goodwill

04 Apr 2022

The annuity method of goodwill is a popular tool used for the...
Read more
Guaranteed Annuity Rates

04 Apr 2022

A guaranteed annuity is also known as a fixed annuity for a year...
Read more
PFRDA – Pension Fund Regulatory and Development Authority

30 Mar 2022

The Government of India has initiated many programs for the...
Read more
SBI Atal Pension Yojana Calculator

16 Mar 2022

Atal Pension Yojana, an initiative launched by the Government of...
Read more
LIC NPS Calculator

14 Mar 2022

Life Insurance Corporation of India (LIC) is one of the oldest...
Read more
NPS Calculator - National Pension Scheme Calculator Online
National Pension Scheme Calculator is an online tool, which allows the individual to calculate the estimated...
Read more
National Pension Scheme (NPS) – Govt Approved Pension Scheme
National Pension Scheme (NPS) is an investment cum pension plan launched by the Indian Government. This scheme is...
Read more
Saral Pension Yojana
In India, there are various individual immediate annuity products offered by life insurance companies. These...
Read more
Post Office NPS Calculator 2022
National Pension System is a scheme launched by the Government of India that offers stability to all Indian...
Read more
NPS Tier 2 Account Advantages and Disadvantages
NPS or the National Pension Scheme is an initiative taken by the Central Government that protects the holders'...
Read more
top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL