5000 rupees will be available every month in this scheme of the government, know how to take advantage

New Delhi. The Central Government has just started Atal Pension Yojana (APY) to guarantee pension every month after retirement on low investment. At present, under the Atal Pension Yojana, the government guarantees a pension of 1000 to 5000 rupees per month. In this scheme of the government, a person up to the age of 40 years can apply. The objective of Atal Pension Yojana is to bring every section under the purview of pension. However, the Pension Fund Regulatory and Development Authority (PFRDA) has recommended to the government to increase the maximum age under Atal Pension Yojana.

If you start investing at the age of 18, you will have to pay only 42 rupees a month
Under Atal Pension Yojana, you will get monthly pension after retirement by contributing every month to the account. The government is guaranteeing a lifetime pension of Rs 5000 per month i.e. Rs 60,000 per annum after the age of 60 on investing only Rs 1,239 every 6 months. According to the current rules, if at the age of 18 years, a maximum of Rs 5000 is added to the scheme for monthly pension, then you will have to pay Rs 210 every month. If the same money is given every three months, then Rs 626 will have to be paid. To get a pension of Rs 1,000 a month, if you invest at the age of 18, then only Rs 42 will have to be paid every month.

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The sooner you join the scheme, the less investment you will have to make
The younger you join this pension scheme of the government, the lower the premium and the higher the benefit. Suppose if you join at the age of 35 for 5000 pension, then for 25 years you have to deposit Rs 5,323 every 6 months. In such a situation, your total investment will be Rs 2.66 lakh, on which you will get a monthly pension of Rs 5 thousand. At the same time, on joining at the age of 18, your total investment will be only Rs 1.04 lakh i.e. about Rs 1.60 lakh more will have to be invested for the same pension.

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Features of Atal Pension Yojana
>> You can choose 3 types of monthly, quarterly or half yearly plans for payment.
>> Benefit of tax exemption under section 80CCD of Income Tax.
>> Only one account will be opened in the name of one member.
>> If the member dies before or after 60 years, then the pension will be given to the wife.
>> If both the member and the wife die, then the nominee will get the pension.

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