Everyone’s dream is to spend a financially safe life in old age. The Atal Pension Yojana (APY) of the Government of India was launched for this purpose, so that people could ensure the future income for the future in low investment. If you also want a pension ranging from 1,000 to 5,000 rupees every month after 60 years, then you can avail this scheme.
Stay financially safe in old age
Future financial security has become very important in today’s run -of -the -mill life. People invest in various schemes to secure their old age financially. If you also want regular income in old age, then the Atal Pension Yojana (APY) of the Central Government can be a great option for you. Under this scheme, you can get pension ranging from Rs 1,000 to Rs 5,000 every month after the age of 60 years.
What is? Atal pension scheme
Atal Pension Yojana is a social security scheme launched by the Government of India, which aims to provide pension benefits to people working in the unorganized sector. Under this scheme, people from 18 to 40 years can enroll and avail pension after the age of 60 years.
How to apply
To take advantage of this scheme, first you have to go to your bank or nearest post office. There you have to fill the form of Atal Pension Yojana and submit it. For this, you must have an Aadhaar card, bank account and a mobile number.
View Mathematics of Investment and Pension
In this scheme you have to contribute on a monthly, quarter or half -yearly basis. Your contribution depends on how much pension you want. For example, if you join this scheme at the age of 18 and want to get a monthly pension of 5 thousand rupees, then you have to deposit only 210 rupees every month.
If someone connects this scheme at the age of 30 and wants to get a pension of Rs 5000, then he will have to deposit Rs 577 every month. After the age of 60, the government will provide you pension under this scheme.
Main benefits of the scheme
- Government guarantee: It is a government scheme, so it is completely safe.
- Minimum Investment: Pension can also be obtained with very little contribution in this.
- Auto-Debit Facility: Your contribution is automatically cut off from your bank account, which does not obstruct the payment.
- tax benefits: Investments made in this scheme are given tax exemption under Section 80CCD of the Income Tax Act.
- Benefits for both husband and wife: If both husband and wife join the scheme, they can jointly get more pension.
Who can take advantage of this scheme?
- All those people who are between 18 and 40 years of age can apply in this scheme.
- The applicant should have a savings bank account.
- The applicant will have to link his bank account to the Aadhaar card.
How to join the plan?
- First of all go to your nearest bank or post office.
- Get the form of Atal Pension Yojana from there.
- Fill your personal information, bank account details and pension option in the form.
- Attach the required documents and submit the form.
- After your account is active, every month the bank account will automatically start a premium deduction.
What is the provision to withdraw from the scheme?
If a person wants to leave this plan in the middle, certain conditions apply to him. Only in case of serious illness or death can be removed from the plan. Otherwise, it is mandatory to continue the plan.
