Everyone is worried about growing old. If you are thinking of investing in a safe place to secure your retirement, then you can invest in the government’s Atal Pension Yojana (APY). Under this scheme, husband and wife can open an account separately and get a pension of Rs 10,000 per month. There are many other benefits of this scheme. Let us know about this special scheme of the government.
What is Atal Pension Yojana?
Atal Pension Yojana was launched in 2015. At that time it was started for the people working in the unorganized sector but now any Indian citizen between the age of 18 to 40 years can invest in this scheme and get the benefits of the pensi0n scheme. Those who have an account with a bank or post office can easily invest in it. Under this scheme, depositors start getting pensi0ns after 60 years.
Atal Pensi0n Yojana is a government scheme in which your investment depends on your age. Under this scheme you can get a minimum monthly pension of Rs.1000, Rs.2000, Rs.3000, Rs.4000, and a maximum of Rs.5000. It is a safe investment in which you need to have a savings account, an Aadhaar number, and mobile number to register.
Under this scheme, people in the age group of 18 to 40 years can get their enrollment in Atal Pension Yojana. For this, the applicant should have a savings account in a bank or post office. Also, note that you can have only one Permanent Pensi0n Account. The sooner you invest in this plan, the better. If a person joins the Atal Pensi0n Yojana at the age of 18, then at the age of 60 he will have to pay just Rs 210 per month for a monthly pension of Rs 5,000. Thus, the scheme is a good profit scheme.
Spouses below the age of 39 years can avail of this scheme independently, which will give them a joint pensi0n of Rs 10,000 per month after 60 years. If the age of the spouse is 30 years or less, they can contribute Rs 577 per month to their respective APY accounts. If the age of the couple is 35 years, then they have to deposit Rs 902 per month in their APY account. In addition to the guaranteed monthly Pensi0n, in case of the death of one of the spouses, the surviving spouse will get Rs 8.5 lakh per month along with a full life pension.
Investors in Atal Pensi0n Yojana also get tax benefits of up to Rs 1.5 lakh under Income Tax Act 80C. According to the National Pensi0n System Trust’s (NPS Trust) annual report, out of 4.2 crore members of NPS, at the end of the financial year 2020-21, over 2.8 crores, or over 66% had opted for APY. , Of the NPS members, 3.77 crores or 89 percent are from non-metropolitan areas.