Post Office NPS Calculator 2024

The National Pension System (NPS) is a savings scheme launched by the Government of India for all Indian Citizens. This scheme allows you to build a corpus to provide financial stability to all Indian Citizens post-retirement. The Post Office NPS Calculator is an online tool that can help you estimate the potential returns from the National Pension Scheme (NPS). It simplifies retirement planning, making it accessible and efficient for everyone.

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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
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What is a 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 for the National Pension Scheme (NPS). 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 necessary documents.

What is a Post Office NPS Calculator?

The National Pension Scheme Calculator is an easy -to-use and hassle-free online tool that helps you to calculate the lump sum amount to be received at the end of the tenure by entering a few basic details related to the NPS scheme.

Features of NPS Calculator- Post Office:

  • Provides an estimate of the total corpus at retirement.

  • Projects monthly pension amounts based on annuity options.

  • Easy-to-use interface for quick calculations.

The Formula for 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

Therefore, a 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)

Illustration of Post Office NPS Calculator

Suppose,

  • Sunil's age is 34 years old;

  • His contributions to NPS in the Post Office are Rs. 3,000 per month; 

  • If the Rate of Interest (ROI) is 10% annually,

  • He adds the pension amount for the remaining 26 years of his retirement. 

As per the Post Office Pension Scheme Calculator Formula,

  • The total principal amount invested till the age of retirement= Rs.9.36 lakh (approx.)

  • Interest earned till maturity time= Rs. 34.99 lakh (approx.)

  • Total sum to be received at the time of maturity= Rs.44.35 lakh (approx.)

  • Now, the minimum annuity investment Sunil can make= 40% of maturity amount

= 40% of Rs. 44.35 lakh

= Rs. 17.74 lakh

Benefits of National Pension Scheme- Post Office Calculator

There are several benefits to the National Pension Scheme (NPS) offered through the Post Office, and you can use online calculators to estimate how much you might accumulate for retirement.

Benefits of Post Office NPS Calculator:

  • Helps Plan Retirement Savings: The Post Office pension scheme calculator provides clear projections of how much to save each month for a secure retirement.

  • Estimates Potential Retirement Income: It shows a potential monthly pension based on your savings and investment choices.

  • Helps in Investment Decisions: The National Pension Scheme Post Office lets you see how different factors like contribution amount, investment return, and retirement age affect your total corpus. This can help you make informed decisions about your NPS investment strategy and choose the best investment options for your retirement goals.

  • Flexibility: The Policybazaar NPS Calculator for Post Office allows you to choose between two approaches:

    • Target corpus calculation: See how much monthly investment you need to reach a desired retirement corpus.

    • Future corpus estimation: Estimate your total corpus based on your current investment plan.

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Steps to Use NPS Calculator Post Office

You can follow the steps mentioned below to make the best use of a Post Office NPS Calculator:

Step 1: Go to the online National Pension Scheme Post Office Calculator available on this page.

Step 2: Insert the following details in the Post Office pension scheme calculator: 

  • Your current age in years

  • Amount you are willing to invest in the National Pension Scheme every month

  • Expected rate of return on your investments (This is an estimate; actual returns may vary).

  • Percentage of the accumulated corpus that you want to allocate for receiving a pension in the future (This will determine how much of your savings go towards a lump sum payout and how much goes towards a monthly pension).

  • Expected rate of return for the pension phase (This is an estimate of how much your pension amount might grow after retirement).

Step 3: The NPS calculator- Post Office will show you the estimated monthly pension, lump sum amount, and total pension wealth.

Eligibility Criteria for Post Office National Pension Scheme

The following are 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 a 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

Steps to Invest in Post Office NPS Account

The following steps need to be implied in case an individual wishes to invest in the 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

Benefits of Post Office National Pension Scheme Account

Some of the top benefits offered under the National Pension Scheme (NPS) are listed below:

  • Portability: You can easily transfer your NPS account online when switching jobs or relocating to India.

  • Liquidity: You can avail of the fund liquidity benefits with a PRAN (Permanent Retirement Account Number). 

    • Tier-I Account: Minimum contribution of Rs.500, with specific withdrawal conditions.

    • Tier-II Account: Minimum contribution Rs.250, requires active Tier-I account, offers easy investments and withdrawals.

  • Tax Benefit: 

    Income Tax Act 1961 Tax Benefits
    U/S 80CCD (1) Deduct up to Rs.1.5 lakh for Tier-I investment.
    U/S 80CCD 1(B) Additional deduction up to Rs.50,000 for Tier-I investment.
    U/S 80CCD (2) Deductions up to 14% for central government employees and 10% for others on Tier-I investment.
  • Flexibility: 

    The 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: Default option, allocates assets based on age-customizable proportions.

    • Active Choice: Allocate assets among corporate bonds, equity (up to 75%), and government securities, with flexible switching options.

In The End!

The Post Office NPS (National Pension System) Calculator is a valuable tool for you to plan your retirement. It helps you to estimate your potential pension and corpus based on contributions, investment duration, and expected returns. By providing a clear projection of future financial security, the calculator assists in informed decision-making, ensuring a well-planned and financially stable retirement.

Frequently Asked Questions

  • What is the Post Office NPS Calculator?

    The Post Office NPS Calculator is a tool that helps you estimate the amount of money you can accumulate in your National Pension Scheme (NPS) account managed by the Post Office.
  • What do I need to use the Post Office NPS Calculator?

    To use the NPS Post Office Calculator, you will need your current age, desired monthly contribution amount, expected investment return rate, and planned retirement age.
  • Where can I find the Post Office NPS Calculator?

    The Post Office itself does not offer a specific NPS calculator on its website. However, several financial websites in India, like Policybazaar, provide NPS calculators that work for Post Office NPS accounts as well.
  • What are the disadvantages of the Post Office NPS calculator?

    The key disadvantage of an NPS Calculator for the Post Office is that the calculated amount is an estimate based on your inputs. Actual returns may vary depending on market performance.
  • Is the Post Office NPS calculator different from the NPS Trust calculator?

    No, the core functionality is similar to both the Post Office NPS calculator and the NPS Trust calculator. Both the calculators estimate your NPS corpus based on your inputs.
  • What should I do if I am unsure about the expected return rate?

    You can try the calculator with different rates to see how it affects your results.
  • Can I use the calculator to plan for my spouse's retirement as well?

    Yes, you can use separate calculators or adjust your contribution amount to consider both your and your spouse's retirements.
  • What happens if I change my contribution amount after using the calculator?

    The estimated amount made by the National Pension Scheme Post Office Calculator will change accordingly when you change your contribution amount. You can revisit the calculator anytime to adjust for changes in your financial situation or goals.
  • 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 70 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.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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^^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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