NPS Calculator 2023

NPS Calculator is a financial tool that calculates potential returns on the National Pension Scheme, by inputting factors like age, monthly investment, and expected rate of returns, it estimates future pension, helping investors in informed decision-making for systematic and disciplined investment strategies.

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We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold
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What is an NPS Calculator?

The National Pension Scheme (NPS) calculator assists in estimating the retirement pension by calculating the monthly contribution. It simplifies retirement planning, helping users in determining suitable contributions. The NPS calculator enhances the important aspect of financial foresight for retirement.

By using the calculator, you can get an idea about how much to contribute monthly to obtain a suitable corpus post-retirement.

As the importance of planning for retirement becomes increasingly evident, the popularity of the NPS calculator is growing. The calculator makes your retirement planning easier by helping you determine the amount you need to contribute. Indian citizens between 18 and 60 are eligible to buy the NPS scheme.

NPS Calculator

Your Age

18 Years 59 Years
Enter Your Age

Monthly Investment

₹500 ₹10L
Enter Investment Per Month

Expected Return on Investment

5% 15%
Expected Return on Investment

Percentage of Corpus Allocated for Pension

40% 100%
Enter Corpus Percentage

Expected Return from Pension

5% 15%
Enter Annuity Return
₹0
Your Monthly Pension
₹0
Your Monthly Pension
Your Pension Calculation
Your Pension Calculation
Total Investment
Returns Earned
Maturity Amount
Maturity Amount split (Lumpsum & Pension)
60%
Lumpsum Amount
At the age of 60 Yrs
40%
Pension Wealth
At the age of 60 Yrs

What are the Features of the NPS Calculator

NPS BenefitsNPS Benefits

The NPS Calculator simplifies pension planning with easy online use. It calculates your future pension and simplifies pension amount predictions. It also enhances financial planning with ease. 

Further:

  • NPS Calculator can be used online in a very easy and simple way.

  • It helps to calculate the amount of pension you will receive.

  • The National Pension Scheme Calculator also shows the amount you invested during the accumulation phase, NPS interest rates, returns earned, and the total funds generated at maturity.

  • The NPS calculator makes the computation of maturity amount simpler.

What are the Advantages of Using the NPS Calculator?

The NPS Calculator offers convenient online usage, effortlessly determining your pension amount. Simplifying maturity computations ensures a seamless experience in planning and forecasting your financial future. 

Further following are the benefits of the online NPS calculator:

  • It saves time, as you do not need manual calculations.

  • You can have a clear knowledge of how much investment you need to make in order to achieve the desired pension amount.

  • Moreover, it also helps you to do financial planning more efficiently.

  • With the help of a one-stop National Pension Scheme Calculator, you can know the estimated amount you will receive as a pension after retirement.

  • The investors of the NPS scheme can check the tax exemptions available under Section 80C and Section 10.

  • Subscribers can get tax benefits under Section 80 CCD (1) within the overall limit of  1.5 lakh under Section 80 CCE.

  • Plus, an additional deduction for investments up to Rs. 50,000 in the NPS Tier I account is available under subsection 80CCD (1B).

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Who Can Use the NPS Calculator?

As per the NPS rule, all Indian citizens between the ages of 18 and 60 are eligible to invest in the pension scheme. Also, the applicant must fulfil the Know Your Customer (KYC) guidelines to invest in NPS. An increasing number of Indians are subscribing to the NPS. In the financial year 2023 alone, the NPS added 170 lakh subscribers. 

How to Use Policybazaar NPS Calculator?

Start a stress-free retirement journey with Policybazaar's NPS Calculator. In just six easy steps, input your age, monthly investment, and expected returns. Customize your pension allocation preferences. The calculator reveals your future monthly pension, lump sum, and pension wealth. 

Follow these steps:

Step 1: Input your current age in years

Step 2: Specify the amount you are willing to invest in the National Pension Scheme every month

Step 3: Provide the expected 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: The calculator will show you the estimated monthly pension, lump sum amount, and pension wealth

What is the Formula for Calculating the NPS Pension Amount?

The NPS scheme allows subscribers to invest in various pension funds, including Birla Pension Fund, HDFC Pension Fund, LIC Pension Fund, and SBI Pension Fund. The NPS calculator uses compounding interest to compute returns.

The National Pension Scheme works on the basis of the following formula
A = P (1 + r/n) ^ nt
Terms used in National Pension Scheme Calculator
P
Principal Sum
R
Interest rate per annum
N/n
Number of times interest compounds
T/t
Total tenure

Let us understand the NPS pension calculation with the help of an example:

Mrs. Joshi, a 36-year-old government employee, invests Rs. 10,000 monthly in the National Pension Scheme with a projected 7% interest. Anticipating retirement at 60, she allocates 40% of her corpus for pension, with an expected rate of return of 6%.

The status of Mrs. Joshi’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= ₹74.8 Lacs

Lumpsum Amount at the age of 60 Years= ₹44.9 Lacs

Pension Wealth at the age of 60 Years= ₹29.9 Lacs

Monthly Pension= ₹14,965

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Key Takeaways

The NPS calculator is a helpful tool that helps you make your retirement plan by estimating the pension you can expect to receive. This tool allows you to make informed decisions about your future and take the necessary steps to secure a comfortable retirement.

FAQ's on NPS Calculator

  • How can I get a 50,000 pension per month in NPS?

    To get a ₹50,000 monthly pension in NPS, you'll need to make substantial contributions over time and choose investment options wisely. Consulting a financial advisor for a tailored plan is recommended.
  • How do I calculate my NPS?

    Calculating NPS involves considering contributions, investment returns, and annuity rates. Policybazaar National Pension Scheme calculator can help with precise estimations.
  • How do you calculate NPS? Show an example.

    Example: If you invest ₹10,000 monthly in NPS for 30 years, with an average annual return of 8%, your corpus can be calculated using compound interest formulas or seamlessly using the Policybazaar NPS calculator.
  • Is NPS better than PPF?

    Comparing NPS and PPF depends on your financial goals. NPS offers the potential for higher returns but has market risk. PPF is a safer, government-backed option with lower returns but tax benefits. Diversifying between the two can be a balanced approach.
  • Where can I find an NPS calculator?

    There are a number of NPS calculators available online. You can use Policybazaar’s NPS calculator.
  • Is the NPS calculator available for free?

    Yes, the NPS calculator is usually available for free on official websites and financial service providers. You can use it without any cost to estimate your potential pension amount.
  • Can the NPS calculator help me choose the right investment option?

    Yes, the NPS calculator can assist you in choosing the appropriate investment option based on your risk tolerance and retirement goals. It allows you to compare the projected pension amounts for different investment choices within NPS, such as equity, corporate bonds, and government securities.
  • Can I change the input values in the NPS calculator later?

    Yes, you can change the input values in the NPS calculator as and when required. You may update your contribution amount, investment period, or expected returns to see how it affects your projected pension amount.
  • Can I invest in NPS for 10 years?

    NPS scheme allows premature exit after 10 years of investment in the scheme only if you invest 80% of the accumulated corpus for annuity purchasing. Other than this, one can exit the scheme only at superannuation or upon death.
  • Which bank is best for NPS?

    SBI Pension Fund and ICICI Prudential Pension Funds have the best returns for a 3-year term for an NPS scheme subscription.
  • What is the average return of NPS?

    According to past trends, the NPS scheme gave annual returns between 8-10%.
  • What happens to NPS after death?

    According to the regulations made by PFRDA, in case of the death of a subscriber, the nominee or the legal heir is to be paid the full (100%) corpus amount.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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