Atal Pension Yojana: If your age is not more than 40 years then you can take advantage of Atal Pension Yojana . Pension is a great help in old age. So far more than 4 crore people have joined the Atal Pension Yojana in the country. Investing in this pension scheme is very easy. You can connect to APY with the help of only one chart.
Atal Pension Yojana is considered a very beneficial scheme for old age. For old age pension, the applicant has to deposit money every month. On attaining the age of 60 years, the applicant will receive a fixed amount every month as pension. You will not need to depend on anyone to meet your daily expenses. Atal Pension Yojana is a government pension scheme and it gives guaranteed returns. Depending on the investment, you get the benefit of pension ranging from Rs 1000 to Rs 5000 every month.
Guaranteed pension will be available every month in Atal Pension Yojana
By joining the Atal Pension Yojana, both husband and wife get a pension of up to 10 thousand rupees per month . Any citizen of India can take advantage of this scheme. If your age is less than 40 years, then immediately open an account in Atal Pension Yojana . Because people above 40 years cannot join this scheme. The age to join this scheme is 18 to 40 years. To get pension under this scheme, one has to invest for at least 20 years. On attaining the age of 60, you will start getting the pension amount every month.
How much pension will the applicant get in Atal Pension Yojana?
If the applicant’s age is 18 years, then you can get a pension of Rs 5000 per month by investing Rs 210 every month i.e. Rs 7 per day in Atal Pension Yojana . On the other hand, if only Rs 1000 per month is needed after the age of 60, then for this only Rs 42 will have to be deposited every month from the age of 18 years.
You can withdraw money even before 60 years in Atal Pension Yojana
In Atal Pension Yojana , if the investor wants to withdraw his amount before the age of 60 years, then it is possible in some circumstances. On the other hand, if the husband dies before 60 years, then his wife will get pension. In case of death of both the spouses, only the nominee will get the full refund.
Account opening process in Atal Pension Yojana
To join Atal Pension Yojana , you must have an account in any bank or post office. Aadhar card and active mobile number will be required. Monthly, quarterly and half yearly facility is available to deposit money in this scheme. Along with this, the facility of auto debit is available, due to which the money will be automatically deducted from your account.
Atal Pension Yojana is a tax saving scheme
By investing in Atal Pension Yojana, you can get pension as well as save tax . By investing in this scheme, you can save tax up to Rs 1.5 lakh. This exemption is available under Section 80C of Income Tax. Atal Pension Yojana was started by the Modi government in May-2015.
