Post Office NPS Calculator 2024

National Pension System is a scheme launched by the Government of India that offers stability to all Indian Citizens post-retirement. The post office has been an integral and reliable part of the Indian system for decades, and hence it also allows citizens of India to invest in the Post Office National Pension Scheme.

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Post Office 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

National Pension Scheme offered by Post Offices in India has been regulated and administered by the Pension Fund Regulatory and Development Authority (PFRDA) and is, therefore, a completely reliable government plan.

Let us know more about the National Pension System focusing on the NPS calculator post office, benefits, and more offered under the Post Office Pension Scheme.

What is Post Office NPS?

The PFRDA (Pension Fund Regulatory and Development Authority) has authorized all the Head Post Offices in India to act as one of their (POP) Points of Presence. Post Offices offer an offline investment process for the NPS (National Pension Scheme). All you have to do is visit the nearest head post office and fill in the documents for the same.

What is a Post Office NPS Calculator?

An easy-to-use and hassle-free tool, National Pension Scheme Calculator, calculates the lump sum amount to be received by entering a few basic details related to the scheme.

The compound interest formula to compute the NPS amount on the post office NPS calculator
FV = P (1 + r/n) ^ nt
Terms used in NPS amount on the post office NPS calculator
FV
Final Value
P
Principal Sum
r
Rate of interest per annum
n
Total number of times the interest compounds
t
Tenure

For example,

Suppose Sunil is 34 years old and his monthly NPS in Post Office is Rs. 3,000. Assuming that the Rate of Interest (ROI) is 10% annually, he needs to add the pension amount for the remaining 26 years of his retirement. As per the NPS formula,

  • The total principal amount invested till the age of retirement will be around Rs.9.36 lakh (approximately) at the NPS Post Office

  • The total sum to be received at the time of maturity will be around Rs.44.35 lakh (approximately)

Few important details needed at the time of calculation of National Pension Scheme Post Office are as follows:

  • National Pension Scheme holder's current age

  • Choice of NPS option (Auto or Active choice)

  • Amount to be invested

  • Investment type to be made (that is, monthly or yearly)

Invest More Get More
Invest ₹10K/Month YOU GET ₹1.5 LAKHS* MONTHLY PENSION View Plans
Invest ₹7K/Month YOU GET ₹1 LAKHS* MONTHLY PENSION View Plans
Invest ₹5K/Month YOU GET ₹75 THOUSAND* MONTHLY PENSION View Plans
standard T&C Apply *

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Steps to Invest in Post Office NPS Account

The following steps need to be implied in case individual wishes to invest in Post Office National Pension Scheme:

  1. To Find the Nearest Head Post Office

    • Visit https://npscra.nsdl.co.in/pop-sp.php website

    • Enter your location and the state that you reside in

    • A page of the nearest Head Post Offices listed under the POP (Point of Presence) list by the PFRDA will appear that accepts offline registration of NPS forms

    • Visit the nearest branch for further process

  2. Registration Process for Post Office NPS

    • Visit the nearest POP Post Office branch

    • Ask for the National Pension Scheme subscribers' form

    • Fill in all the relevant details in the form

    • The subscriber's form can also be downloaded online from here

    • Submit all the necessary documents for KYC, like,

      • Aadhaar card

      • PAN Card

      • Name 

      • Age proof

      • Address proof

      • Photograph, etc.

    • Deposit the minimum account for the desired account type

    • Once the registration process is complete, now you can access the Post Office NPS Account

    • PRAN (Permanent Retirement Account Number) is generated after the registration process is completed

  3. Eligibility Criteria for Post Office National Pension Scheme

    The following is the eligibility criteria for this government-backed post office pension scheme:

    • An NPS account is operational for citizens residing in India only

    • 18 years is the minimum age criteria for opening National Pension Scheme Post Office Account

    • 65 years is the maximum age criteria for opening National Pension Scheme Post Office Account

    • The applicant is not allowed to own more than 1 NPS account

    • KYC Compliance is compulsory before applying for an NPS account

Benefits of Post Office National Pension Scheme Account

NPS is a long-term investment scheme that is completely government-backed. National Pension Scheme is considered safe and hence protects the financial future of the employee after retirement without any hidden clauses.

Here are some of the top benefits offered under the National Pension Scheme:

  1. Portability

    Seamless portability is one of the biggest benefits of the National Pension Scheme when compared to other pension plans in the market. If a person switches from one job to another or moves from one location in India to another, the transfer of the NPS Account will be carried smoothly online without any hassles or burdens. As it is a PFRDA (Pension Fund Regulatory and Development Authority) regulated scheme, transparency is guaranteed.

  2. Liquidity

    National Pension Scheme is great for liquidity as the contributions made by the employees work systematically. An investor needs to have one of the following mentioned accounts to carry on NPS transactions. Also, with the following account, a unique Permanent Retirement Account Number (PRAN) is compulsory while attaining the liquidity benefits.

    Tier-I Account

    • Tier-I account works especially as a pension account

    • The minimum contribution to open a Tier-I account is Rs.500

    • Withdrawals are subject to specific conditions and restrictions

    Tier-II Account

    • Tier-II account can be operational only if Tier-I account is active

    • Liquidity is offered via investments and withdrawals

    • The minimum contribution to open a Tier-II account is Rs.250

    • It is a voluntary account

  3. Tax Benefit

    Income Tax Act 1961 Tax Benefits
    U/S 80CCD (1) For Tier-I investment, 1.5 lakh of tax is deductible within the total ceiling
    U/S 80CCD 1(B) For Tier-I investment, up to Rs.50,000 is allowed as deductions
    U/S 80CCD (2) For Tier-I investment, deductions up to 14% for central government and 10% for the rest are eligible
  4. Flexibility

    National Pension Scheme works as per the general requirement of the employees in India and hence is considered to be very flexible. The following choices of investment are offered under the National Pension Scheme account:

    Auto Choice

    • It is a default option if the employee is confused between choices

    • The age of the investor is taken into consideration while allocating the assets

    • The investor has the right to select the proportion of investment under auto choice

    Active Choice

    • Under the active choice, assets are generally allocated between,

      • Corporate bonds

      • Equity

      • Government Securities

    • Allocation to be made as per the investors will

    • A maximum of 75% of asset allotment can be made under Equity

    • Switching between funds and investment options is on the investors will

In The End!

National Pension Scheme is the scheme for the nation by the nation. It aims to create a financial corpus for Indian citizens after their retirement so that they can lead a happy and financially settled life.

Post Office NPS Calculator helps in understanding the current financial standing of the investor and planning their further investments keeping in mind their future financial needs. It is important to keep all the future aspects in mind before making any kind of investment.

FAQ's

  • What are the benefits of using a Post Office NPS calculator?

    Post office NPS calculator offers you multiple benefits. Some of these are:
    • It gives details of the plans beforehand like total investment amount and scheme duration.
    • You can customize details to find the best suitable plan for your needs.
    • It is a free-to-use online tool.
    The calculator is easy to navigate irrespective of a person's technical know-how.
  • What is the current interest rate of NPS?

    The current rate of interest offered by the Post Office NPS scheme ranges between 9 to 12% depending upon the type of plan and duration.
  • Who can use NPS calculators?

    NPS calculator is an online tool that anyone can use. It gives an idea of the investment amount, scheme duration, accumulated amount, and similar details. However, investors falling between the age of 18 to 65 years should use it to know accurate details of their plan beforehand. 
  • How much amount can I deposit in my Post Office NPS account?

    Post Office NPS scheme has two types of accounts:
    • Tier I – minimum subsequent contribution: Rs 500
    • Tier II – minimum subsequent contribution: Rs 250
    Both Tier I and Tier II accounts require a minimum contribution of Rs 1,000 at the time of opening the account. The minimum subsequent contributions mentioned above should be made regularly to avoid any future inconvenience. 
  • What happens to my account if I don't make regular contributions to it?

    If an investor misses or does not pay minimum monthly contributions, their NPS account may be frozen. In addition, all online facilities like CRA are restricted until the account is reactivated after clearing all dues.
    If multiple payments are missed, the frozen NPS account is closed forever wherein investors may end up losing funds accumulated in it over time.
  • Which is the best place to open NPS?

    NPS account can be easily opened online on the official website of eNPS, https://enps.nsdl.com/eNPS/NationalPensionSystem.html.
  • What is the lock-in period of NPS?

    Investments are made under the NPS scheme, keeping in mind the retirement age. Hence, NPS has a lock-in period until the age of 60. At the age of 60, 60% of the total amount can be withdrawn, whereas 40% of the amount must be used to purchase the annuity.
  • Is NPS better than PPF?

    Both NPS and PPF are government-backed schemes and hence have their own pros and cons. It is up to the individual which scheme to opt for. Some of the comparisons between the 2 are:
    NPS Vs. PPF
    Parameters NPS PPF
    Rate of Interest 12% to 14% 7.1% currently
    Maturity Age 60 years to 70 years At the time of retirement
    Tax benefits Tax exemption up to Rs. 1,50,000 Tax exemption up to Rs. 1,50,000
    Investment Amount Rs. 6,000 minimum Rs. 500 minimum
    Rs. 1,50,000 maximum
    Withdrawals At the age of 60, 60% of the total amount can be withdrawn, whereas 40% of the amount must be used to purchase the annuity. Partial withdrawals can be made after the completion of 7 years

*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
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

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