Check How good "New Pension Scheme " is for you.

Well friends I have tried to calculate the value of NPS corpus at the time of retirement.I have taken number of assumptions which are listed below.

1.These calculation are for the person who joined in Jan2005 and will retire in Aug2039(though you customise it accoding to your requirement).

2.Pay commission continues to sit every 10 years and atleast recommends 30% increase in the salary.

3.Increase in DA is 4% every six months.

4.Few promotions have been taken into account.

5.Implentation of NFSG grade has been considered after 13 years.

So, the figures are

******Rs.2,84,71,588. (@8% interest which is the minimum you would get).Click here to download file for detail calculations.

******Rs.3,91,79,074. (@10% return due NPS being managed like mutual funds).Click here to download file for detail calculations.

******Rs.5,49,44,8619.@12% return due NPS being managed like mutual funds).Click here to download file for detail calculations.

At the time of retirement you will get 60% of the total ammount and rest of the 40% ammout will have to be invested to buy an annuity plan.

Hope these estimates may please you.If so please leave a comment.

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HPSC Recruitment 2009 Notification

Haryana Public Service Commission (H PSC)
Bays No.1-10, Block-B, Sector-4, Panchkula

Advt. No.3/2009

Haryana Public Service Commission invites Applications from eligible candidates for 1317 posts of Lecturers (School Cadre) HES-II (Group-B) in various subjects in Haryana Education Department :

  * Lecturers (Teachers) : 1317 posts (Chemistry-33, Economics-170, English-320, Fine Arts-6, Geography-44, Hindi-240, History-240, Mathematics-57, Music-13, Physical Education-10, Pol. Science-216, Psychology-8, Punjabi-7, Sanskrit-15, Sanskrit-15, Sociology-3), Pay Scale : PB-2 Rs.7500-12000, Age : 17-40 years, relaxation as per rules. 

Qualification : PG degree in relevant subjec wit hat least 50% marks (ii) Certificate of having qualified School Teacher's Eligibility Test (STET) (iii) Hindi/ Sanskrit up to Matric (10th)

Application Form : For application form and detailed information write to Secretary, Haryana Public Service Commission, Bays No.1-10, Block-B, Sector-4, Panchkula by remitting Rs.500/- (Rs.125/- for SC/ST/BC/ESM/PH of Haryana only) through IPO/ Bank Draft payable to Secretary HPSC at Panchkula with self addressed (with pin code) envelope of size 24x11 cm size with Rs.40/- postage stamp or from payment at counter of the HPSC.

How to Apply : Filled in application form should be sent to the Commission's office at Bays No.1-10, Block-B, Sector-4, Panchkula by post or in person on or before 17/07/2009.

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