Ultimate NPS Guide for 2024- National Pension System (Scheme) Decoded
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- เผยแพร่เมื่อ 5 มิ.ย. 2024
- NPS or National Pension System is a retirement product in India. Are tax benefits the only reason to invest in NPS? vidfin.com/ - You can now subscribe to our new app.
In this video, we'll thoroughly decode NPS, exploring its pros and cons and find the best retirement product.
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We'll also navigate through Tier 1 and Tier 2 accounts in NPS, discussing their eligibility criteria, lock-in periods, contribution limits. We'll explore the diverse investment options within NPS, including Active Choice and Auto Choice.
Additionally, we'll examine the tax benefits of NPS under both old and new tax regimes, encompassing deductions under sections 80CCD(1), 80CCD(1B), and 80CCD(2). Furthermore, we'll understand the rules regarding withdrawal of NPS corpus.
00:00- Intro
00:49- What is NPS?
01:40- Types of Account
03:25- Investments options under NPS
03:58- Investments in 4 Categories
04:26- Active Choice
05:06- Auto choice
06:53- Amount received on Maturity
08:20- NPS Pension Calculation
13:55- Withdrawal rules in NPS
15:21 Tax on NPS
18:41- New Regulations
19:18- charges in NPS
About the Video
NPS or National pension system, a pension scheme regulated by PFRDA (Pension Fund Regulatory & Development Authority), launched by the Government of India in 2004. NPS can help save tax and also to get a regular pension after retirement. Learn about Tier 1 and Tier 2 accounts, their eligibility criteria, lock-in periods, minimum contributions, maximum limits and tax benefits. Explore the investment options under NPS, including Active Choice and Auto Choice, offered by top Pension Fund Managers like Birla Sunlife, HDFC, ICICI Prudential, and more. Understand the tax benefits of NPS under both old and new tax regimes, including tax deductions under sections 80CCD (1), 80CCD(1B), and 80CCD(2). Join us as we explore NPS, India's top pension scheme, to boost your retirement planning and financial security. Don't miss this chance to stay informed and ahead in your financial journey.
In this video, we’ll cover the following concepts:
1.What is NPS or national pension scheme?
2. How to invest in the national pension scheme?
3. What is PRAN number and what is the full form of PRAN?
4. What are the eligibility rules for opening a national pension scheme?
5. What are the tax benefits of the national pension scheme under Section 80C?
6. What are the charges involved in opening an NPS account?
7. What are the rules of withdrawal from NPS?
8. What is an Active choice and Auto choice under NPS?
9. Which is better Tier 1 vs Tier 2?
10. What is the total corpus we get on maturity from NPS?
11. What are the benefits of NPS for retirement planning?
12. What are the investment options available under NPS?
13. Which is the best retirement product?
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#NationalPensionSystem2024 #NPS #AssetYogiShow
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What a wonderful Video. Got COMPLETE Clarity on all aspects of NPS. Hi Mukul - the more I watch your videos the more knowledgeable I become. Blessings to you.
Sir aapka jabab nahi. Bahut acche se explain krte ho
आपने बहुत अच्छे ढंग से समझाया 😊
One of the best video on NPS till date. Simple language, top class presentation, detail information. God bless you.
But NPS is not at all good if you are a pvt employee. Annuity scheme is insurance scheme with 4-6% returns(which will be reduced after some years)
Max life provides Annuity above 7%
sir me aapka koi bhi video miss nahi karta aur muje value milti hai thank you so much sir
You are a very good Mentor and I really learnt a lot of new things by you...
Thank you very much sir
Crystal clear and informative. Keep it up.
Thanks a lot for providing us In depth info regarding NPS. 🙏🙌
What is better.
1 . Invest in Nps tier 1.
2. Invest in mutual funds, do a swp after 60 for regular income.
3. Do NPS , after 60 invest lumsum in a mutual fund for SWP plan, also get annuity from NPS.
4. INVEST only in mutual funds, do a hybrid funds after 60.
3rd
Do proper analysis, calculation based on inflation rate also have an
important role then take decisions, everyone forgets that part.
Increase your baskets. Don't rely only on MF and nps.
What a video. And this will be game changer for Indian because interest earned is not taxable. Thank you for these information, far more useful that crappy entertainment channels ❤❤❤
Investing within the NPS framework is crucial for maximizing returns and securing a comfortable retirement.
Absolutely. NPS provides various investment choices ranging from equity to fixed income instruments. Diversifying your NPS portfolio based on risk tolerance and investment goals is key.
I've been considering NPS as part of my retirement planning. How does investing in NPS compare to other retirement savings vehicles like the 401(k) or IRA?
You should contribute to your retirement diligently, or better still look into financial planning don't come to youtube for advise, consult a Local or trusted online broker/ planner
Investing in NPS offers unique advantages like tax benefits and the option to choose between different fund managers and investment options. It's essential to weigh these factors against other retirement savings avenues.
This is huge! would love to grow my reserve regardless of the economy situation, my 407k has lost everything accrued since early 2019, at this point, i'm in need of guidance, can you point me?
Wonderfully structured video.. so clear & crisp about the full NPS cycle. Thanks a lot sir,
Bahut hi achche se samjhaya aapne
Thank you
Thank you sir for giving the details of NPS 🙏🙏🙏
Fully satisfied video on NPS.
Thanks sir
So nice of you
फिनटेक nps खाते से पैसा निकालने और खाता बंद करने की प्रक्रिया पर विडियो बनाये
Thank you sir it is really good that we save money for old age .
Very well explained. Crisp and easy.
Your efforts made me financially litterate... always grateful to you.
Sirji do a detailed comparison video between opting for NPS and EPF for retirement purpose. Thank you
Dear Mukul,
Nice video on NPS Teir 1, covered all aspects in detail.
I would like to suggest you do a video on NPS Teir 2, it's features, pros and cons, taxation etc compared to Mutual funds.
Thanks
There is no point investing in tier 2 . Better products available in mutual funds. No tax exemption also
I watch all videos and take decisions.
Thanks
Best scheme of govt for private sector.
Very less promoted.Thank you sir for this explanation 🙏
There are reasons for that.
Superb Dada pranam🙏🙏
One of the best videos about this topic. Thank you so much. Really appreciate your efforts. More love & support to you. ♥
Sir pls make detailed video on tax implications on shares and mf and how to file ITR for shares and MF.
Got clarity, thanks
your way of explaining is too amezing
Very interesting information
Thanks
Sir, as per a new circular, equity portion can remain 75% upto the age of 60 years and need not to be reduced after 50 years.
बहुत सुंदर विश्लेषण सर❤
Nice explanation of NPS. Thanks.
Sir, your effort is really appreciable. Thanks a lot
I hope you will help and guide me since I could not find the answer anywhere! I resigned from my central govt. Job, after 7 years of service. My questions are: 1. When and How can I withdraw my deposit from my NPS account? Is it somehow related to approval (required) from the organization I resigned from, or do I have the autonomy? 2. If I do not wish to close this account, can I continue depositing? What would the process of withdrawal be, say, after 10 years?
Nice video sir which one is the best fund manager?
excellent piece of information.
Thank you sir 😊
Very nice information sir
Please explain about dremit facility and new notification regarding charges
THANKS ❤
nps tier 2 may accha return milega or utena paisa Mutual fund may invest Kare to aacha benefit milega....aur aap kya suggest karoge sir.. For retirement planning...
two points are missed:
it is not mandatory to make a contribution even in tier-1
premature withdawl is after 5yr. We can take out full amount if portfolio is less than 2.5l
Bro,
You forgot to mention about the recent changes like *SWP* (from 60years to 75years). SWP makes NPS very attractive.
Kindly do include this on your next video on NPS.
Systematic lumsum withdrawal guaranteed ya fix amount hota h ya Market risk par depend karta h.
Thank you for the great video. Very confused about the taxation on Tier II though. Does that also follow EEE or is that going to be taxed at withdrawal? I have not seen the returns get taxed till now.
Request make a video on ULIP pros and cons.
Sir, please suggest some good corporate or government bonds which can give us 9-10% return yearly
Very informative and well explained thank you so much for the information
Thank you for the informative video. Can you please explain how one should proceed if he had a NPS tier 1 account for 10 yrs but now settled overseas and no plans to return back.
Can he withdraw the money? If yes then how much and what’s the process?
Thank you kindly
I'm nps subscriber since 2005 and i have got only 9.6% xirr returns till now.
I am guessing you didn't change equity allocation to 75%
What is equivalent CAGR of 9.6 XIRR?
Any approximate idea?
@@eddscall Not allowed for government employees to choose the active mode of investment. Only Auto choice is available.
@@Udaan0007 XIRR takes into account the exact timing and amount of each cash flow, making it a more accurate representation of the true returns of a SIP. CAGR, on the other hand, assumes a constant rate of return over the entire investment period, which may not accurately reflect the returns of a SIP.
Both are almost same if not exactly same.
@@manojpathania oh, that's bad, they should give the option
Hello Mukul Sir, Thank you so much for your consistent effort to make this clear video on NPS. 🙂
However, I've a doubt on Tax part: 80 CCD (1B), 80 CCD (2) - Do you mean both can be declared at same time ? If so, could you plz enlighten a little bit more...
same doubt.
Best video!! Does NPS calculator considers taxation (7.5 lacs limit) ?
Very good video sir.
Nice, pls explain more about PoP charges
Very well explained .
excellent video informative
Thank you sir 🙏🙏
mutual funds ke retirement plans bhi iske sath compare karte to acha hota..unka lock in sirf 3 ya 5 saal ka hota he
Very well explained
Complete guide to Nps. Thank you for video
Hi Mukul and Team, thank you for making such a great video, it really helps to understand NPS better.
However I have several questions regarding the extension of NPS from age 60 to 75.
1. Do I need to provide the extension age upfront. For e.g. when I reach age 60, I know that I want to extend the NPS for another 5 years, so i extend it to age 65. Then when I reach age 65 can I again extend it one more time. How many such times can I extend.
2. Once I extend the NPS at age 60 to say till age 70, will all the amount from the beginning continue to earn interest and accrue till age 70 or I will have to withdraw the portion till age 60 (with annuity pension) and the additional money I contribute from age 60 gets continued till age 70. Or is it that the lump sum can continue from the beginning but the annuity portion has to be taken at age 60? This is a very important question for me.
3. When should I let NPS know that I want to extend beyond age 60. Is it when I am 59 years old or earlier ?
Kindly answer these questions. Thank you again for your time and effort.
Sir very nice explanation
With mutual funds also mostly we are supposed to park the accumulated funds in a fixed income product and after say one year or so we can set a SWP & it also will be taxed as income from other source with same tax slab rate. Fixed income also will give 6-8% returns, so annuity to most extent acts similar, practically mota-moti it's the same. Also NPS is improving with leaps & bound, may be some better options will come by the time we retire!
Que.: Can we set a STP from NPS Tier 2 account to Tier 1 account? How? Say at the age of 21/22 years of my daughter, I will open NPS account with her name & park her Sukanya Samruddhi Yojana (SSY) money in Tier 2 account & set a STP to her Tier 1 account!
You earned yourself a subscriber. :)
Important topic explained very well and in simple to understand language..Very informative video as usual.. Thanks 👍
Glad you liked it
फिनटेक nps खाते से पैसा निकालने और खाता बंद करने की प्रक्रिया पर विडियो बनाये
Thanks sir. It was informative.
I have a doubt.
Every website is saying "You can save tax upto Rs. 46,800 per year by investing in ELSS funds if you invest Rs 1,50,000"
But I'm not understanding.
Can you please make a video with some practical calculations.
Good information.
hi Mukul ji, You explained the scheme very well in short. Just one query, actually my other investments already met the 1.5 lack cap. So, if I invest just 50,000 in NPS, whether shall I get any benefits under sec 80CCD(1B)
For the 40% on which we get annuity, what kind of insurance do we get with it? What is the sum assure? I am asking this because you have explained in this video that we do get an insurance with annuity.
in systematic withdrawal of lump sum amount will it be taxable as it may be acknowledged as income
Do we need to compulsory pay every year in NPS scheme?
Can we increase our annuity percentage? Or it is maximum 40%?
Thank you so much for the useful video
Please guide regarding gain calculations of nps tier 2 withdrawls.Specially how to calculate corresponding purchase price when one sells NPS tier 2 withdrawl.Please make a video.
Can you please provide a video on XIRR calculation and accumulation of wealth in NPS?
Fully satisfied
Your Explanation So Nice Sir
Very very informative 👏👏
Can you please explain EPS. How pension is calculated in EPS? And how it is different from NPS?
sir can you tell me which is best mode auto or active ??
Can you please explain the return of the Mutual fund withdrawal with long term capital gain tax and tax saved on the nps during the tenure?
My question is related to 40% conversion in to Annuity. Monthly receipt of Annuity is taxed @ tax slab of the assessee. Now if instead of investing in NPS if investment is done in Mutual fund and withdrawal is done through Systemic Withdrawl Plan on monthly basis then what would be the tax implication. I guess we will get the benefit of Indexation and income will be treated as Capital Gain with lower tax outflow. From that perspective also Mutual Fund is a better option. I understand 60% of corpus is tax free at the time of withdrawl and only 40% is taxable. But comparing capital gain vs regular tax slab which one is the better option from overall perspective - MF or NPS. Plz pick my question
Perfect video
Good information about NPS, i would say all things covered in this video.
I have one question regarding tax benefits,
For example, If i added 50,000 in my NPS account then i know i can show this 50,000 in my tax declaration but can i withdraw whenever i require it after 3 years Lock-in period ?
It will be helpful for me if anyone can answer this question.
wonderfull explan
Great video Sir ji
great video
Sir,
NPS me yadi suppose hum kuch hi saal invest kre to.....vo pese hame milege bad me yaa loss ho jayege...I mean isme kuch rules to nhi ki itni saal invest Krna must h.
.
Hum kitne v saal invest krke , band kr sakte h?
.
Baki sab, Video me to sab kuch ache se samjh aa gya Thank you so much!
Thanks for your nice explanation
Please guide more on Tier 2
Sure thing!
फिनटेक nps खाते से पैसा निकालने और खाता बंद करने की प्रक्रिया पर विडियो बनाये
Can you please explain 80CCD(1), 80CCD(1B) and 80CCD(2) section in detail?
80CCD(1) is Employee Deduction from Salary, 1B is additional voluntary by employee itself , Seb section 2 is Contribution by employer
@@cajatinaswani609 Thanks for the reply! further to it, 80CCD(2) will be part of the CTC? and is it addition to tax exempt under 80C (1.5L+50K[80CCD(1)])?
Very well explained Mukul ji. I am 38 years old and did not opt for it for more liquidity of funds to invest in MFs than NPS. Now I would like to know is there any calculator to check investment if I only opt for Employers contributions as per new tax regime. ? Thanks in advance 👍🏼
Sir please make a VDO on "impact of Lok Sabha election on stock market".
You make lots of sense brother
Thanks a lot
फिनटेक nps खाते से पैसा निकालने और खाता बंद करने की प्रक्रिया पर विडियो बनाये
Is nps beneficial for 58year old . Is lumpsum amount investing in nps a good choice?
Thanks sir but ek video NPS, ELSS AND MF ke comparision ka bhi banao
What is difference in NPS and EPF as both schemes has plans for retirement fund and pension ?
Great Video...I have query about where to open NPS account?
Bcoz ET money also providing option to invest direct in NPS
Should I open account from NPS site directly?
I have 2 important questions to ask : 1. Can I increase the invested amount monthly as and when i like ? 2. If during a financial crisis can I pause my monthly investment in NPS?
Mukul ji, kya Govt. Employees Active choice nhi opt kr sakte ? Govt employee kya private pension funds ko select kr sakte agar Active choice opt krte hain to.
Please reply.
you are truly a NPS matter expert
Means a lot. Thanks!
फिनटेक nps खाते से पैसा निकालने और खाता बंद करने की प्रक्रिया पर विडियो बनाये
if we want to invest after retirement then what is best plan of the same
Great video sir ...Please make a video on Postal life insurance 🙏
Very bad idea bro. Please don't take pli 😢