Everyone saves some amount from their earnings and wants to invest it in a place where their money is safe. Also, they get good returns. Apart from this, some people invest keeping old age in mind. In which investment provides monthly lump sum amount or pension after retirement. In this case, the government has started Atal Pension Yojana.
This scheme is a better investment for the citizens. Through which you can keep your old age financially secure. Today we are going to tell you about one of those retirement plans in which by adding Rs 7 every day, you will be eligible to get a pension of Rs 5000 every month from the age of 60.
Atal Pension Yojana Rules
Citizens should invest in Atal Pension Yojana for at least 20 years. If you are 40 years old, you should start investing. You will start getting pension as soon as you turn 60. If the age of the subscriber is 18 years, then he has to deposit Rs 210 per month in Atal Yojana and pay only Rs 7 per day. You can withdraw Rs 5000 after 60 years. If citizens want a pension of Rs 1,000, then they have to pay Rs 42 per month. If the age of the citizen is 40 years and he has invested at this age, then he will get pension after 60 years.
Who can avail the benefit of the scheme
Both husband and wife associated with Atal Pension Yojana can avail Rs 10000 per month. If the husband died a few years ago, then the wife will get the benefit of this scheme. After the death of the spouse, the nominee will get the benefit of this Atal Pension Yojana. The nominee will get back all the money invested.
The government is giving guarantee of APY
The dream of spending old age in enjoyment can be fulfilled through Atal Pension Yojana run by the government. This is a pension scheme, which is guaranteed by the government itself. Every day you can save a small amount and invest it in the scheme and get a pension ranging from Rs 1,000 to Rs 5,000 according to your investment. The age limit for investment in this scheme has been fixed from 18 to 40 years.
How many people have joined the scheme?
Atal Pension Yojana Launched in 2015-16, the popularity of this scheme can be gauged by looking at the number of members joining it. So far 7 crore people have joined the Atal Pension Yojana. In the first six months of the financial year 2024-25, 56 lakh new customers have joined the Atal Pension Yojana.
Tax exemption is also available
By investing in APY scheme, you not only get guaranteed pension but also many other benefits. By investing in it, you can save tax up to Rs 1.5 lakh. This tax benefit is given under section 80C of Income Tax.
Eligibility for the scheme
Eligibility to open an account in this scheme Any Indian citizen between the age of 18 to 40 years can invest in this scheme. To open an account, he must have a valid bank account, which is linked to the Aadhar card.
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Apart from this, the applicant must have a mobile number. He should not already be a beneficiary of Atal Pension.
How to open an Atal Pension Yojana account
You can open an account by going to the post office or bank branch. For this, you will have to fill the Atal Pension Yojana form there. You will have to provide your mobile number and Aadhaar number. This account can be opened by both husband and wife together. In this case, if both have the account at the time of retirement, a pension of Rs 10,000 will be received every month. In this, you can deposit an amount according to your savings every month.