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Atal Pension Yojana (APY) has completed 10 years. The scheme was started by Prime Minister Narendra Modi on 9 May 2015. Under the Atal Pension Yojana, a pension of Rs 1,000 to 5,000 is received every month.
If you want to make pension arrangements for yourself after retirement, then Atal Pension Yojana (APY) can prove to be the right option for you. Through this scheme, you can give financial security to your old age. We are telling you about this plan …
One has to invest for 20 years Under the Atal Pension Yojana, a pension of 1000 to 5000 rupees is available every month. In this, a person from 18 years to 40 years can invest in it. If a person takes this scheme, then he will have to invest at least 20 years.
Investment amount will be decided according to your pension How much pension you want after retirement will depend on how much will be cut from your amount for investment in this scheme. To get a pension of 1 to 5 thousand rupees per month, the subscriber will have to pay from 42 to 210 rupees per month. It will be on taking the scheme at the age of 18.
At the same time, if a subscriber takes the scheme at the age of 40, then he will have to convert from 291 to Rs 1,454 per month. The more the subscriber will contribute, the more pension will be received after retirement.
See here how much pension will be received for depositing how much money in Atal Pension Yojana
If an 18 year old person every month…
- If you deposit 42 rupees, then after 60 years, he will get a pension of 1000 rupees every month.
- If you deposit 84 rupees, then you will get a pension of 2000 rupees.
- If you deposit 126 rupees, you will get a pension of 3000 rupees.
- If you deposit Rs 168, you will get a pension of Rs 4000.
- If you deposit 210 rupees, you will get a pension of 5000 rupees.
If a 40 year old person every month…
- If you deposit 291 rupees, then after 60 years, he will get 1000 rupees pension every month.
- If you deposit Rs 582, you will get a pension of 2000 rupees.
- If you deposit Rs 873, you will get a pension of Rs 3000.
- If you deposit Rs 1164, you will get a pension of Rs 4000.
- If you deposit Rs 1454, you will get a pension of Rs 5000.
Note: Different amounts have been fixed for people between 19 to 39 years, you can find it online or go to the bank.
You can give installment according to your convenience Under this scheme, investors can invest in monthly, quarterly or semi-nuel i.e. 6 months. Contribution will be auto-debit, that is, the amount fixed from your account will automatically be deducted and will be deposited in your pension account.
After the death of subscriber, his spouse will get pension After the death of the subscriber, his spous (spouse) will be paid equal pension and the pension amount deposited up to the age of 60 will be returned to the Nominee on the death of both Subscriber and Spouse.
On the other hand, if his spouse can continue his contribution to APY account in the case of customer death before 60 years. The customer’s spouse will be entitled to receive the same pension amount that the customer had to get. On the other hand, if he wants, he can withdraw all the money deposited in APY account by not doing so.
Taxpayer does not get the benefit of the scheme Atal Pension Yojana is not for taxpayers. That is, if you pay income tax, then you will not be able to open an account in this scheme. This rule has been implemented by the government from 1 October 2022.
Questions and answers related to Atal Pension Yojana
Question: Can you open APY account even without savings account?
answer: No, it is necessary to have a savings bank account for this scheme.
Question: How is the date of monthly contribution determined?
answer: It is decided based on the date of the first investment.
Question: Is it necessary to keep a nominee for subscribers?
answer: Yes, it is important to keep a nominee.
Question: How many accounts of Atal Pension Yojana can open?
answer: Atal Pension Yojana is allowed to open the same account.
Question: What will happen if there is no balance for a monthly contribution in the account?
answer: In order to do a monthly contribution, there will be a penalty if there is no balance in your account. Click here for more information about the plan
