New pension plan
1
Arthashastra Save Over and Above of Rs. 1.5 Lac deduction u/s 80 C Summary NPS is designed as Personal Savings & Retirement scheme The savings are accumulated when the person is working and used on Retirement Savings accumulated under NPS is utilized to have an pension during the retirement Minimum annual subscription of Rs. 6 K is mandatory NPS offers two types of account – Tier I and Tier II Did you know? Govt. approved Pension Scheme to help create Retirement Corpus New Pension Scheme – Save Additional Tax ©Right Horizons Financial Services Pvt.Ltd. All Rights Reserved © For more details mail [email protected] or contact 91-98453 99780 Tier II – NPS A/c Tier II is a voluntary savings option, from where a person can withdraw money freely In Tier II, investment avenues consists a mix of Equity, Government Bonds, Corporate Bonds, Fixed Deposits & Liquid Funds Tier I – NPS A/c Tier I is a basic pension account with limitations on withdrawal A part of the Tier I corpus at the end is to be used to buy an Annuity – Ensuring regular payouts Offers partial withdrawal options On death of the subscriber, the nominee can withdraw the corpus On retirement only up to maximum of 60% can be withdrawn and remaining has to be annualized Restriction on withdrawals ensures “Corpus Formation for Retirement” Who Should Invest in NPS NPS is an good avenue to invest in, however considering the lock in and the long tenure of the investments it may not be suitable for everyone Should be considered by one who has an income of more than Rs. 10 Lacs Who has completely utilized limit available u/s 80 C Who is ready to stay invested for long run Withdrawal Limit & Criteria Before 60 Yrs Between 60 - 70 Yrs After Death Withdrawal Limit 20% Upto 60% 100% Tax Benefits Allows deduction on contribution upto 10% of Basic Salary + Dearness Allowance Maximum deduction allowed u/s 80 C is Rs. 1.5 Lacs An additional deduction of Rs. 50 K has been proposed in the current Budget NPS Advantage Lower Fund Management Charges (FMC) as compared to ULIP’s (~1.35%) and Mutual funds (~1.25%) – NPS (0.25%) Lower FMC, helps to enhance the Returns by keeping the cost minimal Peace of Mind Plan for your Retirement, Now is the time Earlier the better
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[[[
Arthashastra
Save Over and Above of Rs. 1.5 Lac deduction u/s 80 C
Summary
NPS is designed as Personal Savings & Retirement scheme
The savings are accumulated when the person is working and used on Retirement
Savings accumulated under NPS is utilized to have an pension during the retirement
Minimum annual subscription of Rs. 6 K is mandatory
NPS offers two types of account – Tier I and Tier II
Did you know?
Govt. approved
Pension Scheme to
help create
Retirement Corpus
New Pension Scheme – Save Additional Tax
©Right Horizons Financial Services Pvt.Ltd. All Rights Reserved
©
For more details mail [email protected] or contact 91-98453 99780
Tier II – NPS A/c
Tier II is a voluntary savings option, from where a person can withdraw money freely
In Tier II, investment avenues consists a mix of Equity, Government Bonds, Corporate Bonds, Fixed Deposits & Liquid Funds
Tier I – NPS A/c
Tier I is a basic pension account with limitations on withdrawal
A part of the Tier I corpus at the end is to be used to buy an Annuity – Ensuring regular payouts
Offers partial withdrawal options
On death of the subscriber, the nominee can withdraw the corpus
On retirement only up to maximum of 60% can be withdrawn and remaining has to be annualized
Restriction on withdrawals ensures “Corpus Formation for Retirement”
Who Should Invest in NPS
NPS is an good avenue to invest in, however considering the lock in and the long tenure of the investments it may not be suitable for everyone
Should be considered by one who has an income of more than Rs. 10 Lacs
Who has completely utilized limit available u/s 80 C
Who is ready to stay invested for long run
Withdrawal Limit & Criteria
Before 60 Yrs
Between 60 - 70 Yrs
After Death
Withdrawal Limit
20% Upto 60% 100%
Tax Benefits
Allows deduction on contribution upto 10% of Basic Salary + Dearness Allowance
Maximum deduction allowed u/s 80 C is Rs. 1.5 Lacs
An additional deduction of Rs. 50 K has been proposed in the current Budget
NPS Advantage
Lower Fund Management Charges (FMC) as compared to ULIP’s (~1.35%) and Mutual funds (~1.25%) – NPS (0.25%) Lower FMC, helps to enhance the Returns by keeping the cost minimal
Peace of Mind
Plan for your Retirement, Now is the time
Earlier the better
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