The UPS Retirement Calculator is an online tool designed to help government employees estimate the lump sum payment they will receive after their retirement.In this calculator you can estimate the total amount you will receive on retirement by entering important details like last salary received, total years of service and last six months salary. This tool helps in retirement planning by giving a clear view of expected gratuity and lump sum payments.
UPS Retirement Calculator
Retirement Benefits:
Link: How much pension will I get after retirement?How to Calculate UPS Retirement Amount?
To determine the UPS retirement amount, the calculator uses two main formulas:
Gratuity Calculation: Gratuity is calculated as 15 days’ salary for every year of service.
The formula used is:
Gratuity = (Last Salary×Tenure×15)÷ 26
Lump Sum Payment Calculation: Employees receive a lump sum payment based on the average salary over the last six months of service.
The formula is:
Lump Sum Payment = (Last 6 Months’ Salary×10%×Tenure×2)
Total Retirement Amount is the sum of the gratuity and the lump sum payment.
Total Payment = Gratuity+Lump Sum Payment
How does the UPS retirement calculator work?
The UPS Retirement Calculator operates by collecting user input through a web form. These inputs generally include the last salary received before retirement, the total number of years worked by the employee, and the salary received in the last six months of service.
Using these inputs, the calculator uses formulas to calculate the gratuity, lump sum payment and total retirement amount. After this the result is displayed.
Input: service Period: 25 Year
Last month salary: Rs60,000
Last six month salary: Rs3,60,000
- Gratuity: Rs 865384.62
- Lump Sum Payment : Rs 1800000
- Total Payment After Retirement: Rs 2665384.62
Input: service Period: 25 Year
Last month salary: Rs70,000
Last six month salary: Rs4,20,000
- Gratuity: Rs 1009615.38
- Lump Sum Payment : Rs 2100000
- Total Payment After Retirement: Rs 3109615.38
Input: service Period: 25 Year
Last month salary: Rs80,000
Last six month salary: Rs4,80,000
- Gratuity: Rs 1153846.15
- Lump Sum Payment : Rs 2400000
- Total Payment After Retirement: Rs 3553846.15
Input: service Period: 25 Year
Last month salary: Rs90,000
Last six month salary: Rs5,40,000
- Gratuity: Rs 1298076.92
- Lump Sum Payment : Rs 2700000
- Total Payment After Retirement: Rs 3998076.92
Input: service Period: 25 Year
Last month salary: Rs1,00,000
Last six month salary: Rs6,00,000
- Gratuity: Rs 1442307.69
- Lump Sum Payment : Rs 3000000
- Total Payment After Retirement: Rs 4442307.69
Input: service Period: 25 Year
Last month salary: Rs1,20,000
Last six month salary: Rs7,20,000
- Gratuity: Rs 1730769.23
- Lump Sum Payment : Rs 3600000
- Total Payment After Retirement: Rs 5330769.23
Input: service Period: 25 Year
Last month salary: Rs1,50,000
Last six month salary: Rs9,00,000
- Gratuity: Rs 2163461.54
- Lump Sum Payment : Rs 4500000
- Total Payment After Retirement: Rs 6663461.54
Input: service Period: 25 Year
Last month salary: Rs2,00,000
Last six month salary: Rs12,00,000
- Gratuity: Rs 2884615.38
- Lump Sum Payment : Rs 6000000
- Total Payment After Retirement: Rs 8884615.38
Input: service Period: 25 Year
Last month salary: Rs2,50,000
Last six month salary: Rs15,00,000
- Gratuity: Rs 3605769.23
- Lump Sum Payment : Rs 7500000
- Total Payment After Retirement: Rs 11105769.23
Benefits of UPS Retirement Calculator
1. This calculator provides accurate calculations based on actual data.
2. This helps employees understand potential retirement benefits.
3. It helps in effective financial planning by giving a clear estimate of post-retirement income.
4. Its interface is quite intuitive, performing accurate calculations with minimal input.
5. Calculates retirement benefits quickly and saves time.
6. This tool is available absolutely free of cost, making it an accessible tool for all government employees.
How to Use the UPS Retirement Calculator
Step1: Enter your last monthly salary.
Step2: Enter the total number of years in service.
Step3: Enter your last six months’ salary.
Step4: Finally press the ‘Calculate’ button.
Step5: The result will be displayed on the screen containing the calculated gratuity, lump sum payment and total superannuation amount.
By following these steps, you can easily estimate your retirement benefits and plan effectively for your financial future.
Q1. Is lump sum payment available under UPS pension scheme?
Ans: Yes, there is a provision for lump sum payment in UPS Pension Scheme and it depends on the last six months’ salary.
Q2. How to calculate retirement amount?
Ans: Retirement amount is mainly calculated by 2 formulas, mentioned above.
Q3. Is gratuity available under UPS?
Ans: Yes, gratuity is available under UPS and it is based on 15 days of every year.
Q4. Is UPS pension for private employees?
Ans: No, UPS pension is not for private employees, only government employees can avail its benefit.
To determine the UPS retirement amount, the calculator uses two main formulas:
Gratuity Calculation: Gratuity is calculated as 15 days’ salary for every year of service.
The formula used is:
Gratuity = (Last Salary×Tenure×15)÷ 26
Lump Sum Payment Calculation: Employees receive a lump sum payment based on the average salary over the last six months of service.
The formula is:
Lump Sum Payment = (Last 6 Months’ Salary×10%×Tenure×2)
Total Retirement Amount is the sum of the gratuity and the lump sum payment.
Total Payment = Gratuity+Lump Sum Payment
How does the UPS retirement calculator work?
The UPS Retirement Calculator operates by collecting user input through a web form. These inputs generally include the last salary received before retirement, the total number of years worked by the employee, and the salary received in the last six months of service.
Using these inputs, the calculator uses formulas to calculate the gratuity, lump sum payment and total retirement amount. After this the result is displayed.
Input: service Period: 25 Year
Last month salary: Rs60,000
Last six month salary: Rs3,60,000
- Gratuity: Rs 865384.62
- Lump Sum Payment : Rs 1800000
- Total Payment After Retirement: Rs 2665384.62
Input: service Period: 25 Year
Last month salary: Rs70,000
Last six month salary: Rs4,20,000
- Gratuity: Rs 1009615.38
- Lump Sum Payment : Rs 2100000
- Total Payment After Retirement: Rs 3109615.38
Input: service Period: 25 Year
Last month salary: Rs80,000
Last six month salary: Rs4,80,000
- Gratuity: Rs 1153846.15
- Lump Sum Payment : Rs 2400000
- Total Payment After Retirement: Rs 3553846.15
Input: service Period: 25 Year
Last month salary: Rs90,000
Last six month salary: Rs5,40,000
- Gratuity: Rs 1298076.92
- Lump Sum Payment : Rs 2700000
- Total Payment After Retirement: Rs 3998076.92
Input: service Period: 25 Year
Last month salary: Rs1,00,000
Last six month salary: Rs6,00,000
- Gratuity: Rs 1442307.69
- Lump Sum Payment : Rs 3000000
- Total Payment After Retirement: Rs 4442307.69
Input: service Period: 25 Year
Last month salary: Rs1,20,000
Last six month salary: Rs7,20,000
- Gratuity: Rs 1730769.23
- Lump Sum Payment : Rs 3600000
- Total Payment After Retirement: Rs 5330769.23
Input: service Period: 25 Year
Last month salary: Rs1,50,000
Last six month salary: Rs9,00,000
- Gratuity: Rs 2163461.54
- Lump Sum Payment : Rs 4500000
- Total Payment After Retirement: Rs 6663461.54
Input: service Period: 25 Year
Last month salary: Rs2,00,000
Last six month salary: Rs12,00,000
- Gratuity: Rs 2884615.38
- Lump Sum Payment : Rs 6000000
- Total Payment After Retirement: Rs 8884615.38
Input: service Period: 25 Year
Last month salary: Rs2,50,000
Last six month salary: Rs15,00,000
- Gratuity: Rs 3605769.23
- Lump Sum Payment : Rs 7500000
- Total Payment After Retirement: Rs 11105769.23
Benefits of UPS Retirement Calculator
1. This calculator provides accurate calculations based on actual data.
2. This helps employees understand potential retirement benefits.
3. It helps in effective financial planning by giving a clear estimate of post-retirement income.
4. Its interface is quite intuitive, performing accurate calculations with minimal input.
5. Calculates retirement benefits quickly and saves time.
6. This tool is available absolutely free of cost, making it an accessible tool for all government employees.
How to Use the UPS Retirement Calculator
Step1: Enter your last monthly salary.
Step2: Enter the total number of years in service.
Step3: Enter your last six months’ salary.
Step4: Finally press the ‘Calculate’ button.
Step5: The result will be displayed on the screen containing the calculated gratuity, lump sum payment and total superannuation amount.
By following these steps, you can easily estimate your retirement benefits and plan effectively for your financial future.
Q1. Is lump sum payment available under UPS pension scheme?
Ans: Yes, there is a provision for lump sum payment in UPS Pension Scheme and it depends on the last six months’ salary.
Q2. How to calculate retirement amount?
Ans: Retirement amount is mainly calculated by 2 formulas, mentioned above.
Q3. Is gratuity available under UPS?
Ans: Yes, gratuity is available under UPS and it is based on 15 days of every year.
Q4. Is UPS pension for private employees?
Ans: No, UPS pension is not for private employees, only government employees can avail its benefit.