The Employee Pension Scheme (EPS) is a pension scheme where employees receive a pension based on their years of service after the age of 58. Alternatively, you can take an early pension at 50 years of age. The pension fund is contributed to by both employers and employees. Let’s assume the salary of the individual…
The monthly pension of an employee is determined by the period of service, rounding up the number of years if the employee has completed six months or more. For example, 10 years and 7 months of service would be considered 11 years. Assuming an employee with a basic pay of Rs 79,000 and different periods…
The Employee Pension Scheme (EPS) is a retirement plan that provides a monthly pension to employees after age 58. You can also opt for an early pension at 50. Both employees and employers contribute to the pension fund. Let’s calculate the monthly pension for someone with a salary of Rs 84,000 and different years of…
UPS vs NPS Monthly Pension Calculations: National Pension System (NPS) is the default pension scheme for central government employees, but they can also select Unified Pension System (UPS) now. Both retirement schemes offer a lump sum amount and a monthly pension at retirement. However, the contribution amount and the way the lump sum amount and…
The Employee Pension Scheme (EPS) gives you a fixed income after retirement. You can start receiving a pension at 58 or opt for early pension at 50. If you leave your job 10 years before turning 58, you can withdraw the pension amount in one go at 58. Let’s calculate your monthly pension with a…