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Worth it?
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It is usefull only disadvantage is lock in period rest everything is good
NPS is very good investment scheme. Keep the returns aside and see the tax rebate of 30% on additional 50K. Thats is flat 40% upside YOY. The only challenge is blocking time is very long.
Ok so, if you have a good enough income lets say above 10-15 and above. NPS is really helpful in reducing taxes as otherwise you have standard deduction in 80C 80D and HRA, but with NPS, you get an additional 50K deduction and if it is corporate NPS where your company is paying the NPS for you, they give you deductions upto 7.5 Lac. This is a form of investment for your retirement years, an advantage to this is you can also have an option to choose how much risk you want to take by deciding how much of the NPS should go into Equity, Debt and Govt Securities.
If you want to spend a huge corpus after 60 and don't have any desires at mid age, only then go for it. Key point here is you need to attain 60 years
Only minus point is lock in period till 60 years.. rest all good