Atal Pension Yojana: By saving Rs 7 every day and investing Rs 210 every month, a pension of Rs 60,000 can be taken. In this scheme, both private and public sector employees can contribute to the Provident Fund Organization.
Atal Pension Scheme: Any salaried class person aspires for a healthy retirement fund. Employee employees from both the private and public sectors can contribute to the Provident Fund Organization. At the same time, the central government has started a retirement system for the people of the unorganized sector.
On May 9, 2015, the central government announced the Atal Pension Yojana, a major initiative for workers in the unorganized sector. So far about 4 crore people have signed up for this scheme. The retirement system, which is managed by the central government through the National Pension Scheme (NPS), ensures retirement returns.
Minimum age
- The age of the person should be between 18 to 40 years.
- Any Indian person who works in the unorganized sector and has a bank account.
- Investors will start getting benefits from this scheme when they reach the age of 60 years.
- The investors will continue to get a monthly pension till they die.
- If the investor dies, the spouse of the investee is entitled to pension till death.
- In case of death of the investor and spouse, the retirement fund is transferred to the account of the nominee.
How to get Rs 60,000 pension on investment of Rs 7?
- Anyone below the age of 18 years can invest in Atal Pension Yojana. When they retire, they can invest Rs 210 per month for 42 years and get a monthly pension of Rs 5,000.
- For a monthly investment of Rs 210, Rs 7 has to be saved daily and the investor will get a pension of Rs 60,000 after a year.
- However, anyone wishing to join this scheme should know that they have to pay a monthly premium of Rs 210 to get the monthly income.
How to invest in Atal Pension Yojana:
- Visit the official website of Atal Pension Yojana
- https://enps.nsdl.com/eNPS/NationalPensionSystem.html.
- Fill your personal and Aadhar card details.
- Use OTP verification to double-check the information. OTP will be sent to the cell phone number linked to Aadhaar.
- Enter the account number and IFSC code for your bank account.
- After the process is complete, the account will be activated.
- Fill in the details of the nominee and select the premium payment type.
- Your Atal Pension Yojana registration will be completed as soon as you e-sign the form.
