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Super Pension Plan! Now in old age, you will get a pension of Rs 5000 while sitting at home.

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Atal Pension Yojana: It is very important to have a means of pension during the retirement period. Besides, it also helps in meeting the expenses in old age.

Making small contributions to social security schemes like the government’s Atal Pension Yojana (APY) can help any person get a stable income after working for a long time. A pensioner can earn up to ₹ 5,000 per month by subscribing to Atal Pension Yojana (APY).

Who can be included in the scheme?

Any citizen whose age is between 18 to 40 years can join APY. All people need to do is have a KYC-compliant savings bank account or post office savings bank account.

Apart from this, you should also know that from October 2022, the government has made income taxpayers ineligible for the Atal Pension Scheme. This means that if you pay income tax then you cannot join this scheme.

How much contribution will have to be given?

Under Atal Pension Yojana, people start receiving a guaranteed monthly pension of ₹ 1,000, ₹ 2,000, ₹ 3,000, ₹ 4,000 or ₹ 5,000 from the age of 60. The pension amount depends on the contribution made and the year of joining the scheme.

The central government also contributes 50% of the subscriber’s contribution to the scheme or ₹ 1,000, whichever is lower, for five years. It should be noted that government co-contribution is not available to income taxpayers and those covered under any statutory social security scheme. You can contribute to the scheme on monthly, 3 month or 6 month basis.

How to get Rs 5000 pension

If you join APY at the age of 18, you will have to contribute ₹ 42 every month to get a guaranteed pension of ₹ 1,000 and ₹ 210 every month to get a guaranteed pension of ₹ 5,000. .

To get a pension of ₹ 5,000 per month after the age of 60, a person will have to contribute ₹ 626 on a quarterly basis or ₹ 1,239 on a 6-month basis after joining the scheme since the age of 18. In this case the return pension amount of the nominee will be ₹ 8.5 lakh.

If the subscriber chooses to join the scheme at the age of 39 years, he will have to deposit ₹ 1,318 monthly, ₹ 3,928 for three months or ₹ 7,778 for six months to get ₹ 5,000 monthly pension.

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