New Delhi: In a landmark move aimed at bolstering the financial well-being of the citizens, the government has introduced a pioneering scheme designed to provide comprehensive economic support during the twilight years of life. The scheme offers pensions after retirement, assuring individuals of a dignified and secure future beyond their working years. Continue reading to read more details about the scheme.
No doubt, most people want to invest in the scheme from where they can get safe, secure, and maximum return. But this also needs quality endeavour. (Also Read: What Is The Price Of Land On The Moon? It Is Only Rs…)
What Is Atal Pension Yojana (APY)?
APY is a government scheme in which investment is as per your age. You will get a pension ranging from Rs 1,000, 2000, 3000, and Rs 4000 to a maximum of Rs 5,000. This scheme guarantees a lucrative and safe return.
Who Can Invest?
APY was started in 2015. At the time, people from the unorganised sector can invest in the scheme. But now it is open for all the categories of Indian people from the age group of 18 to 40 years. Investors will get a pension after the age of 60 years.
How To Get Rs 3000 As A Pension?
For instance, if your wife is 25 years old, you have to contribute Rs 226 every month to the APY account. If your wife’s age is 39 years, you have to put Rs 792 in your APY account every month. In addition to the guaranteed monthly pension, if the account holder dies, the nominee will get Rs 5.1 lakh along with full life pension every month.
How To Get Rs 5000 As A Pension?
If a person joins the Atal Pension Yojana at the age of 18, after the age of 60, he will have to deposit just Rs 210 per month for a monthly pension of Rs 5000 every month.
What To Do To Invest In Atal Pension Yojana (APY)?
To invest in an account, an applicant must have a savings account in a bank or post office. You can have only one Atal Pension Account. The sooner you invest under this scheme, the more benefit you will get.
Tax Benefit
People investing in Atal Pension Yojana get a tax benefit of up to Rs 1.5 lakh under the Income Tax Act 80C. In case of the untimely death of the person who is associated with this scheme, his family continues to get the benefit.