All employees have to think about their retirement life. There are many schemes that offer pensions at a certain age. Atal Pension Yojona (APY), run by the central government, is a popular scheme among Yojanas that offer pensions after retirement. But can government employees create an account in APY?
One of them is whether government employees can also take advantage of the Atal Pension Scheme. Do they also get a chance to open an account in this scheme? Know what are the rules about this scheme. Do government employees also get the benefit of Atal Pension Yojana? Let’s tell you.
Can government employees get the benefit of Atal Pension Yojana?
The Atal Pension Yojana of the Government of India provides facilities to all the citizens of the country. It also includes government employees. For this, to apply in the Atal Pension Scheme, some eligibility has to be fulfilled, in which the applicant must be a citizen of India. His age should be between 18 years to 40 years. Along with this, it is necessary to link his Aadhaar card to the bank account.
An age boundary in the scheme
Any person can open an Atal Pension Yojana account through net banking. Or you can go to your bank branch and open an account in Atal Pension Yojana. They will not get the benefit of Atal Pension Yojana. You can choose the facility of auto debit in it, from when you register in it, till the age of 60 years, money will be deposited in the scheme as auto debit from your account. Not all banks are offering online registration facility in the Atal Pension Yojana.
How much return can expect?
If you start investing in the scheme at the age of 18. So you have to deposit Rs 210 every month for a pension of Rs 5000. At the same time, if you invest in the scheme at the age of 40 years. So you have to deposit Rs 1454 for a pension of Rs 5000. It is necessary to invest in the scheme for at least 20 years.