I am 50 years old and I am a member of superannuation scheme for more than 10 years with balance od ₹ 1000000/-in a private sector .yearly contribution as of now is ₹1200/-.can you advise me whether shall I open NPS account or increase my contribution to existing superannuation fund? Returns of superannuation at present is @6.5%. My age of retirement is 58. Kindly advise.
2 Answers
Hi,
May I know if you have invested adequately for your Retirement in any other financial products??
You may kindly go through my article on NPS and revert to me with your views ;
Hi,
Is n't it advisable to pick mutual funds (can be hybrid/Debt funds) over NPS for the next 5-7 years??
Kindly note that NPS wont' give you pension by itself, you need to buy an Annuity policy to get periodic pension.
Also, mutual funds can be a better option than investing in NPS (Tier-2 a/c).
Suggest you to check your Retirement corpus requirement using calculator from the above suggested article and pick your investment product(s) for next few years..
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