Nps is 2lakh crore + and growing

The government push to drive utilization of NPS seems to be yielding significant results ( I know because they also come to my organization and did a full push to convert people to join..  and I did).

As per some figures I read, the amount has almost doubled and number of subscribers has gone up by 70% +.

Now there are some significant benefits of NPS.. the biggest being the fact that one can invest in equity vs only the debt that epfo does ( or the max of 15%). This ensures a better return for the employee as well as lower subsidy for the government .

Second big thing for the employee is that they can get full tax benefit of upto 10% of their basic over and above the 2lakh of 80cc benefit.. This is big. ( 1.5lakh plus to 50k nps benefit)

Of course there are some things which are different from the epfo like the EET regime of NPS and the requirement of the pension annuity with limited choices ( though the govt has brought in all the big names) .

One should opt for the NPS to save tax and get an equity exposure for their retirement planning .

It's simplefinancialsense!