NPS Calculator can be used to calculate pension amount. Let’s understand Tier 1 & Tier 2 Accounts under National Pension Scheme. in this hindi video. How much corpus you will have at retirement? How much monthly pension can you get in Tier 1 Pension Plan? What exactly is a Tier 2 Account?

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Time Stamps

00:00 Introduction
01:17 NPS TIER-1 Account
01:54 Who can invest in TIER-1 Account?
02:18 Benefits of NPS
02:50 How your monies are invested?
04:10 Asset Allocation in NPS
05:23 Maturity amount on Retirement
08:40 National Pension Scheme Calculator
14:22 What is a TIER-2 account?

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एनपीएस कैलकुलेटर का उपयोग पेंशन राशि की गणना के लिए किया जा सकता है। आइए राष्ट्रीय पेंशन योजना के तहत टियर 1 और टियर 2 खातों को समझते हैं। रिटायरमेंट के समय आपके पास कितना कॉर्पस होगा? टियर 1 पेंशन योजना में आपको कितनी मासिक पेंशन मिल सकती है? वास्तव में एक टियर 2 खाता क्या है?

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How to Calculate NPS Amount ?
How to calculate NPS final lump sum retirement amount ?
How to calculate NPS Final Monthly retirement amount ?
What is Tier 1 Account in NPS ?
What is Tier 2 Account in NPS ?
How much can be expected ROI ?
Where does the funds manager invest amount ?
Which option is better in NPS ? Tier 1 or Tier 2 ?
Who can open NPS Account ?

In this video, the detailed explanation of NPS calculation is made with example. Brief introduction is given related to tax benefit in Tier 1 and Tier 2 option. Various investment options such as Corporate Bonds, Government Bonds & Equity are explained carefully. Also the part of asset allocation in NPS investment is touched.

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Hope you liked this video “NPS Calculator – Tier 1 & Tier 2 Accounts”….(read more)

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NPS Calculator for Retirement Planning – Tier 1 vs Tier 2 Accounts

Retirement planning is a crucial aspect of financial management. As individuals, we all strive to ensure a comfortable and secure future for ourselves. The National Pension Scheme (NPS) is an initiative by the Indian government that aids citizens in building a corpus for their retirement years. It provides a structured and regulated way to save and invest for a financially stable future. One important consideration while planning retirement with NPS is differentiating between Tier 1 and Tier 2 accounts.

NPS offers two types of accounts – Tier 1 and Tier 2. Tier 1 account is the core account, also referred to as the pension account. It is designed specifically for retirement planning and comes with certain restrictions for withdrawals. On the other hand, Tier 2 account is a voluntary investment account that offers more flexibility in terms of withdrawals.

To better understand the differences between Tier 1 and Tier 2 accounts, it is crucial to analyze their features and benefits.

1. Eligibility: While anyone between the ages of 18 and 65 can open a Tier 1 account, the Tier 2 account is available only to those who already have a Tier 1 account.

2. Investment Options: Both Tier 1 and Tier 2 accounts offer various investment options, including equity, corporate bonds, government securities, and alternative investment funds. However, Tier 1 accounts have a limited allocation of up to 50% in equities, while Tier 2 accounts have no such restrictions.

3. Withdrawals: Tier 1 accounts have a lock-in period until the age of 60, meaning withdrawals are allowed only on attaining the age of 60. However, there are some special cases where partial withdrawals are permitted before 60, such as medical emergencies or higher education expenses. Tier 2 accounts, on the other hand, allow immediate withdrawals without any restrictions. This makes Tier 2 accounts more suitable for short-term financial goals or emergency funds.

4. Tax Benefits: Both Tier 1 and Tier 2 accounts offer tax benefits. Contributions made towards the Tier 1 account are eligible for tax deductions under Section 80C of the Income Tax Act, subject to a maximum limit of 1.5 lakh INR. Additionally, Tier 1 accounts also allow an extra tax deduction of up to 50,000 INR under Section 80CCD(1B). However, only contributions made towards a Tier 1 account are eligible for these tax benefits.

Having understood the key differences between Tier 1 and Tier 2 accounts, it is crucial to utilize an NPS calculator to plan retirement effectively. An NPS calculator helps in determining the estimated returns and corpus at retirement. It evaluates the impact of various investment options and helps make informed decisions regarding investment allocations.

Retirement planning requires a comprehensive approach, and understanding the differences between Tier 1 and Tier 2 accounts is essential. By utilizing an NPS calculator, individuals can gain a better understanding of their financial goals, risk appetite, and investment preferences, enabling them to make the most suitable choices.

In conclusion, NPS offers a structured and regulated platform for retirement planning. Tier 1 and Tier 2 accounts provide individuals with different benefits and features. While Tier 1 accounts prioritize long-term retirement planning with limited liquidity, Tier 2 accounts offer greater flexibility for short-term financial goals and emergency funds. Utilizing an NPS calculator can immensely help in aligning one’s investment strategy with their retirement goals. So, start early, plan diligently, and secure a financially stable future with the NPS.