A 30-year-old individual looking for a Rs 2 lakh monthly pension can achieve this through the National Pension System (NPS) by investing Rs 15,500 monthly until age 65, assuming a 12% annual return. At the time of retirement, 40% of the accumulated corpus amount is used to buy an annuity, securing the monthly pension.
NPS provides significant tax benefits, including deductions up to Rs 2 lakh under sections 80CCD(1) and 80CCD(1B), which makes it a tax-efficient retirement tool. Its low-cost structure, provides compounding benefits, and has the flexibility to make it an ideal option for long-term retirement planning.
To get the detailed information, you can refer to this “Financial Express” article – Click Here
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