NPS vs OPS Calculator Chart | Which is Better NPS or OPS Comparison

NPS vs OPS Calculator Chart Check online. Read to know which is better NPS or OPS Comparison Review pension schemes, benefits, and returns. As we know that there have been some states who restored the Old Pension Scheme which has known as OPS short. Moreover, this scheme has restored OPS by the state government. As we know that both schemes have going to provide pensions to the beneficiaries who are eligible for this scheme which had given by the state government or central government employees after their retirement.

NPS vs OPS Calculator Chart

Check the information about the scheme which has given about NPS vs OPS Calculator Chart given by the department. According to the details Old Pension Scheme has a scheme which has related to retirement and it has launched by the Government. As we know that all government employees receive a monthly pension with the help of the Old Pension System. NPS or OPS main Kya Antar Hai?

Those government employees who completed their 10 years of service in government departments then there has a guaranteed pension available as per the rule of government services. Moreover, this has been based on their last drawn basic salary with the OPS scheme run by the government. NPS vs OPS main Kya Antar Hai?

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NPS or OPS Which is Better

Similarly, New Pension Scheme is also applicable and it has been introduced by the Central Government of India and has also called as National Pension System. In addition, the central government and state government employees on 22nd Dec 2003 has come up with National Pension System. Moreover, this has applicable from 1st Jan 2004.

Those aspirants who have taken voluntary retirement cum investment scheme for themselves. Check Which is Better NPS or OPS. Because we have come here with all the details which have given by the department about these two schemes. There have people who want to do NPS or OPS Comparisons through online mediums. In addition, for those who come under the Old Pension Scheme then the Government has going to pay them the entire amount of their pension after their retirement.

NPS vs OPS Calculator 2023
NPS vs OPS Calculator 2023

NPS or OPS Comparision online

In addition, there has no amount going to be deducted from the salary of employees when they are working in their service. However, NPS has known as Voluntary Retirement as well as an investment scheme for the person who works in a government firm. And under the contribution of the New Pension system, there has been investment in market-linked securities. So the employees have to go to receive 60% of their contribution made in their service as a lump sum.

Title of Article NPS vs OPS Calculator Chart | Which is Better NPS or OPS Comparison
Full Form of OPS Old Pension Scheme
Full Form of NPS New Pension Scheme
Under Government department
Category of Article Information/ Comparison
Year 2023
Level National Level
Beneficiaries Government Employees
Applicable in India

NPS vs OPS in Hindi

However, the remaining 40% of it has going to distribute as a monthly pension to them. So after retirement, the government employee can able to live their life without any issues because they will get a monthly pension for their living. Check NPS vs OPS Calculator Chart which has available online. Due to this, the state government and central government has going to help the employee who has to work in the government sector jobs. Read all the details about New Pension Scheme as well as Old Pension Scheme. So you can know which scheme has better for the employees.

The government has also revised the benefit of Dearness Allowance for its employees twice a year. So the pensioner has going to revive their last drawn salary plus the dearness allowance. Moreover, their pension has also increased when the dearness allowance of the aspirants has increased twice a year. Check NPS vs OPS Calculator Chart which has been given by the department that handles the pension system given to the employees. Now we also going to share the details about the advantage and disadvantages of both schemes.

NPS or OPS Which is better

Old Pension Scheme Main Points :

Advantages of OPS for the users :

  • Firstly this scheme assures aspirants a lifelong income post-retirement for their life.
  • Secondly, the employee going to get a pension which has under a predetermined formula which means there has 50% of the last drawn basic salary plus dearness allowance. In addition, there has average earnings of the last ten months of service has also considered in this pension.
  • Due to this,¬† whichever has more going to be considered in the pension system.
  • Thirdly, the pension of employees has to go to increase with the revision of Dearness Allowance twice a year.
  • Fourthly, there has no deduction from the salary of the employee for the payment of pension given in this pension scheme.
  • Moreover, there has guaranteed, pay commission indexed pension, inflation which has pension payments which have given to retired government employees and their spouses.

NPS or OPS Calculator

Disadvantages of the Old Pension Scheme :

  • This scheme has a massive pension burden which has on the state government and central government.
  • Due to this, it has unsustainable for the pension liabilities which have kept increasing every year.
  • Moreover, there has no corpus which has been created for the pensions that have grown continuously.
  • In addition, it has going to reduce the liability of the government for the payment of pensions.
  • Because of this pension scheme, the government has to bear the payouts which have extended the pension.

NPS or OPS Comparision

National Pension Scheme Main Points :

Advantages of NPS :

  • The aspirants can able to withdraw 60% of their corpus at the time of their retirement which has tax-free also.
  • In addition, there has one more feature also given here which has control over the New Pension Scheme investment as well as it has more flexibility for the employees.
  • Due to this, aspirants can choose the professional fund manager which has come with the highest return.
  • Then, their tax deduction has also applicable to the contribution of NPS which has been made every year during employment.
  • So, the department has going to provide higher returns in any case of debt or equity since it has a qualified professional fund manager that comes with the NPS investment system.
  • However, it comes with a transparent system which has come with New Pension Scheme and it has operated and managed through online mediums. In addition, there has other advantages also given in this scheme.

The disadvantage of NPS :

  • Moreover, in this pension system, there has a contribution of 10% of the basic salary required with Dearness Allowance through a monthly pension scheme.
  • In addition, there has no fixed amount has been given in the pension amount which has been paid based on the return on investment done in the market-linked instrument which has been considered by professional fund managers.
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