Calculate your National Pension System corpus, monthly pension and tax savings. Extra ₹50,000 deduction under Section 80CCD(1B) — over and above 80C limit.
National Pension System (NPS) is a government-regulated retirement savings scheme available to all Indian citizens. It offers market-linked returns with a mix of equity and debt, plus significant tax benefits.
| Section | Benefit | Limit | Who Can Claim |
|---|---|---|---|
| 80CCD(1) | NPS contribution deduction | 10% of salary (max ₹1.5L as part of 80C) | All NPS subscribers |
| 80CCD(1B) | Additional NPS deduction | ₹50,000 EXTRA over 80C | All NPS subscribers |
| 80CCD(2) | Employer contribution | Up to 10% of salary (private) / 14% (govt) | Salaried employees |
Tier I is the mandatory pension account with lock-in till age 60 and tax benefits. Tier II is a voluntary savings account with no lock-in — you can withdraw anytime but get no tax benefit (except for govt employees).
At age 60: 60% of corpus is tax-free lump sum. Remaining 40% (minimum) must be used to buy annuity which gives monthly pension. The annuity income is taxable as per your slab.