Atal Pension Yojana (APY): In today’s busy life, everyone is worried about retirement. Those doing government jobs get pension, but for people working in the private sector, financial security after retirement is a big question. Keeping this problem in mind, the Government of India started Atal Pension Yojana (APY) in 2015. This scheme is especially beneficial for those who work in the unorganized sector and do not have any pension scheme.
Benefits of the Atal Pension Yojana:
Regular Pension: Under APY, you get a fixed pension ranging from ₹1000 to ₹5000 every month on completing 60 years of age.
Tax Benefits: Contributions made to APY get tax benefits under Section 80C of the Income Tax Act 1961.
Pension to spouse: If the member dies, his/her spouse will continue to receive pension for the remaining lifetime.
Benefit to Nominee: If both the member and spouse die, a lump sum amount of the deposit is paid to the nominee.
Low investment: The amount of investment in APY is decided according to your age and pension amount. By depositing at least ₹42 per month you can get a pension of ₹1000 per month.
Eligibility to join the scheme:
Must be a citizen of India.
Must be between 18 to 40 years of age.
Not already taking pension under any government scheme.
Must have a bank account.
Contribution:
The amount of contribution to APY depends on your age and desired amount of pension. You can deposit contributions every month, quarter or half year.
conclusion:
Atal Pension Yojana is a great scheme for those who want financial security after retirement. You get a regular pension with low investment, so that you can enjoy your old age comfortably. If you have not joined this scheme yet, join today and secure your future.
Additional Information:
For more information you can visit https://www.pfrda.org.in/myauth/admin/showimg.cshtml?ID=718.
You can also get information about APY in your nearest bank or post office.
