Punjab National Bank has given information about this scheme on its official Twitter handle. By investing money in NPS, you can live a stress-free life even after your retirement.
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>> This is the pension funds and investment option.
>> Under this, there is an additional tax exemption of Rs 50,000 under Section 80CCD (1B).
>> This section is exempt from Rs.1.50 lakh of 80C.
Invest in your happiness with #NPS!
Who can invest?
People between 18 and 60 years of age can invest in the National Pension System. Accounts can be opened under this scheme by going to all government and private banks in the country.
Can pre mature clearance
In NPS scheme, you can also make pre-mature withdrawals under certain conditions. If you are going to start a new business or are planning to buy a house, then you can withdraw money first. Apart from this, you can also withdraw money for marriage, children’s education and listed illness.
What is National Pension System?
The National Pension System is a government retirement saving scheme, launched by the central government in the year 2004. Since 2009, the scheme has also been opened to the people working in the private sector. Now any employee working in the private sector with the government can join this scheme on their own free will.
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How to get 68 lakh rupees
If you invest 5,000 rupees every month for 30 years, after thirty years your total contribution will be Rs 18 lakhs. At the same time, if you get the estimated return on investment at the rate of 10 percent, then the total amount on maturity will be Rs 1.13 crore.
>> Purchase of annuity – 40 percent
>> Estimated Annuity Rate – 8%
>> Tax Free Withdrawal – 60% of Maturity Amount
>> Pension at the age of 60 – Rs 30,391 per month
>> Lump sum cash – Rs 68.37 lakh
For more information about this scheme, you can visit this link https://www.pnbindia.in/nps.html.