What is SUD Life's Retirement Calculator?

In the first screen, you'll need to provide:

1. Date of Birth: Click on the calendar icon to select your birth date.
2. Desired Retirement Age: Enter the age at which you plan to retire.
3. Living Expenses (Other than Rent): Input your monthly expenses, excluding rent.
4. Monthly House Rent / Maintenance Bill: Enter your monthly rent or home maintenance costs.
5. Expected Inflation Rate: Input the inflation rate you expect (as a percentage).

After filling in these details, click 'Next' to proceed to the second step.

In the second screen, you'll enter:

1. My Total Retirement Savings till now: Enter the total amount you've saved for retirement so far.
2. Monthly PF contribution: Input your monthly Provident Fund contribution.
3. Monthly Savings for Retirement apart from PF: Enter any additional monthly savings you make towards retirement.
4. Annual Interest Rate on Monthly Savings: Input the interest rate you expect to earn on your savings.

Once you've filled in all these details, click 'Calculate' to see your results.

The final screen will show you:

1. Required Monthly Investment: This is the amount you need to invest monthly to reach your retirement goal. For example, "You need to make a monthly investment of ₹28,538 to….”
2. Total Corpus Required: This is the total amount you'll need at retirement. For instance, ".... accumulate a corpus of ₹3,74,44,075 at the time of retirement so as to maintain the same standard of living post retirement."

Estimated Corpus with Current Savings: This shows how much your current savings will grow to by retirement. For example, "Estimated corpus at the time of retirement with your current savings is ₹96,38,137".

If you need to make changes, you can click 'Recalculate' to start over

Plan Option A is available for individuals who purchase Immediate Annuity either from their savings or from policy proceeds of deferred pension plan/National Pension Scheme.  You can choose from any of the 9 annuity options. The annuity instalments will be paid based on the annuity option you choose, as long as the annuitant(s) are alive or until the end of the specified period (for options 7, 8, and 9), whichever comes later. 

This option is available only for individuals who purchase this plan from the proceeds of Reverse Mortgage loan offered by any approved financial institution. 

Additionally, the policy purchased through RML under option 2 and 6 can be surrendered at any time after the policy starts, once the Reverse Mortgage Loan is fully paid off. If the policy term has completed at least 11 years, 100% purchase price is returned, otherwise 95% of the purchase price is returned.

This plan offers annuity benefits to NPS subscribers based on regulations by the Pension Fund Regulatory and Development Authority (PFRDA). The default annuity option 6 is selected here. If the annuitant does not have a spouse, Annuity option 2 is chosen. In case of the subscriber’s death before annuity commencement, the annuity will be paid to the spouse as per annuity option 2

On death of the annuitant (s), the annuity payment would cease, and refund of the purchase price shall be utilized to purchase an annuity contract afresh in the following order: (a) living dependent mother of the subscriber (if any); (b) Living dependent father of the deceased subscriber. The annuity would continue until all such family members in the specific order are covered. After the coverage of all such family members, the purchase price shall be returned to the surviving children of the subscriber and in the absence of the children, the legal heirs of the subscriber, as applicable. In case no such family member exists upon the death of the last survivor, there would be a refund of the Purchase Price to the nominee

Plan Option C is available only for NPS subscribers who select the default option; however, if they choose to opt out, they can select from the 9 annuity options under Plan Option A.