Dear Sir,
I am 46 yrs old, I need Rs 1.35 Lac per month after my retirement. How much I have to invest in NPS to get the same.
Ans: Calculating the exact amount you need to invest in NPS to achieve a monthly income of Rs 1.35 lakh after retirement involves several factors, such as your current NPS corpus, expected returns, and the annuity rates prevailing at the time of retirement.
To determine the required NPS investment, you'd typically need to consider your expected rate of return and the annuity rates applicable at retirement. Annuity rates can vary based on market conditions and the prevailing interest rates.
It's crucial to consult a Certified Financial Planner to get a comprehensive understanding tailored to your specific situation. They can help you assess your current financial position, estimate your retirement needs, and devise a suitable NPS investment strategy to meet your income goal.
Remember, retirement planning is a complex process, and it's essential to consider various aspects to ensure a comfortable retirement. Seeking professional guidance can provide clarity and help you make informed decisions. Best wishes for your retirement planning journey!