Budget 2019: Money in bank! Govt contribution in NPS hiked to 14%

Budget 2019: Money in bank! Govt contribution in NPS hiked to 14%; central government employees, pensioners to gain
This 4% includes basic pay plus dearness allowance by the government. Apart from this, the pension of these employees have also been increased to Rs 7,000 from Rs 3,500. 

Budget 2019: Once again pensioners have witnessed ache-din in Budget 2019, as the Finance Minister Piyush Goyal has announced that the government contribution in National Pension System (NPS) will now be 14%. Earlier, the government only added 10% in a central government employees NPS contribution. However, the employees will continue to contribute 10% to their basic salary in NPS.

Goyal says, "For workers and labourers, Piyush Goyal says that a new pension scheme will come up to ensure an increase in centre's contribution by four percent."
This 4% includes basic pay plus dearness allowance by the government. Apart from this, the pension of these employees have also been increased to Rs 7,000 from Rs 3,500. 
NPS is a long-term investment and a best retirement plan of  the Pension Fund Regulatory and Development Authority (PFRDA) and Central Government. In NPS, central government employees are needed to invest compulsory, however, it is also open voluntarily for other individuals.
Recently in December last year, the Finance Ministry announced, tax exemption limit for lump sum withdrawal on exit has been enhanced to 60%. With this, the entire withdrawal will now be exempt from income tax. (At present, 40% of the total accumulated corpus utilized for the purchase of the annuity is already tax exempted. Out of 60% of the accumulated corpus withdrawn by the NPS subscriber at the time of retirement, 40% is tax exempt and balance 20% is taxable.)
This means now not only a government employee will enjoy massive gains on NPS, but will also take home hefty money. This improves the living of these employees during their retirement age of 60 years. 

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