Same Rs 1.5 lakh per year. Same 20 year window. Three different end balances.
The lock-in column was the rate column all along.
All three contribute the same rupee. The difference at year 20 is what each one did with that rupee while it sat there.
NPS . 9.5 pct
81.1L
Accumulated at age 60
Lump tax-free 60 pct
Rs 48.7 L
Annuity corpus 40 pct
Rs 32.4 L
Monthly annuity ~6 pct
Rs 16200
PPF . 7.1 pct
62.2L
At maturity year 20
Liquidity year 7 plus
Partial
Account extension
Yes after yr 15
ELSS . 10.8 pct
94.2L
Post LTCG at year 20
LTCG above Rs 1.25 L
12.5 pct
End balance on Rs 30 lakh contributed over 20 years . PPF rate held at 7.1 pct illustrative . NPS 75 pct equity option blended at 9.5 pct . ELSS 12 pct gross less LTCG drag
ELSS earns the most rupees but never locks them. NPS earns more than PPF but pays 40 pct of the balance in an annuity it cannot return. The end balance is the easy half. The shape of the money on day 7301 is the harder half.