Hello friends, in this article we are discussing on the topic ‘how to use retirement goal option in NPS app’. When we login to NPS app we see many options on the dashboard. Here we found an option ‘Retirement Goal’. If you want to use this option how to use retirement goal in NPS app.

 

Retirement Goal option is basically a retirement calculator. By using this calculator you can get an idea on how much pension per month will you need at the time of retirement, to get the pension amount how much corpus will you need and calculating the current NPS balance how much amount you will need to invest per month will be calculated.

 

Hence if you want to check your retirement needs then you can use this option. To know how to use NPS retirement calculator read this article till end.

 

How to use retirement goal option in NPS app:

To calculate your retirement goal you need to install and register in NPS mobile app. If you have the same then follow the following steps.

 

STEP 1: Go to NPS mobile app and login to your account.

 

STEP 2: You will see your account’s dashboard on this page. Scroll down the page. You will see an option ‘Retirement Goal’. Click on this option here.

 

STEP 3: The retirement goal calculator will be open. In this page you are asked to enter the date of joining in NPS first. It may automatically fill. If not then enter your date of joining in NPS.

 

Then you have to enter yearly increment percentage in NPS investment. If you increase yearly or you are government employee then enter the percentage. We assume the percentage as 10% here. If you don’t increase investment amount then enter it as zero.

 

Then you have to select your monthly household expenses per month or per year. Enter the amount and select per month or per year. Then click on ‘Next’.

 

STEP 3: Another page will be opened. Here you have to select estimated inflation rate. We will select 5% here. You can select here 1 to 7. After selecting the inflation rate, click on ‘Continue’.

 

STEP 4: In this page your calculation will be displayed. You can select here in which age you will get retirement. We select here 60 years. You can select it as your requirement.

 

You will see your calculation. Here you see your today’s expenses and the estimated expenses at the age of retirement, required corpus to achieved the corpus amount and the amount to be invested per month will also be appeared.

 

You can save this calculation for your future calculation by clicking on ‘Save My Plane’.

 

This is the process how to use NPS retirement goal calculator in NPS app.