Is NPS a good or bad scheme?
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NPS can be a good retirement savings scheme for some individuals, as it provides tax benefits, flexibility in investment options, and a regular pension income. However, whether it’s a good or bad scheme depends on various factors like your financial goals, risk tolerance, and personal preferences. It’s always a good idea to evaluate your own needs and consult with a financial advisor to determine if NPS aligns well with your retirement planning. 😊🏦💰
The NPS can earn higher returns than the PPF or FDs, but it is not as tax-efficient upon maturity. For instance, you can withdraw up to 60% of your accumulated amount from your NPS account. Out of this, 20% is taxable. Taxability on NPS withdrawal is subject to change.