Let us tell you about this scheme in detail. Also, let us know how you can get a monthly pension of Rs 5000 by depositing only Rs 376 every month in the scheme.

The central government started this scheme in the name of former Prime Minister Atal Bihari Vajpayee. Any Indian citizen can participate in it. This scheme is specially designed to provide support to low-income earners in the private sector in their old age. In Atal Pension Scheme, you can deposit a fixed amount on a monthly, quarterly or yearly basis and after 60 years, you can get a pension of 1 thousand, 2 thousand, 3 thousand, 4 thousand and 5 thousand rupees every month according to the amount deposited.

Under the Atal Pension Scheme, you can invest from the age of 18 to 40 years. In this, you will have to pay different monthly premiums for different pensions between 18 to 40 years. For a monthly pension of Rs 5,000, you have to pay different premiums according to each age. Let us tell you how you can earn Rs 5,000 per month if you enter at the age of 25.

This is the calculation

If you deposit Rs 376 every month in Atal Pension Scheme from the age of 25, then you will easily get a pension of Rs 5,000 per month after the age of 60. You will have to invest for 35 years. Which will be around Rs 1,57,920. According to this, Rs 5000 will come in your account every month after retirement.

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Every person wants his income to continue even after retirement. In such a situation, he invests in many investment plans right from the time of his job. The government is also running many schemes to promote investment. One of these schemes is Atal Pension Scheme.

In this scheme, the investor gets the benefit of pension after the maturity of the scheme. People between 18 to 40 years of age can invest in this scheme.

To ease the process of registration in Atal Pension Yojana, PFRDA has issued a circular. According to this circular, now the process of application under this scheme has been simplified. Let us know how you can apply online for this scheme.

You can apply through eAPY

PFRDA has issued a circular on 31 January 2024. According to this circular, to make registration in this scheme easier, the Central Record Keeping Agency Protean e-Governance (PCRA) has launched eAPY.

By registering through eAPY, people will save a lot of time because now there will be no need to go to the bank to apply for the scheme.

How to apply online for Atal Pension Yojana

New users can also apply for eAPY. Let us tell you that new users can apply through Aadhar based KYC, online based KYC and virtual ID.

• First of all you have to go to your bank’s website and log in.
• After this you have to click on customer service.
• Now select the service request.
• Then go to the bank account section and enroll in Atal Pension Scheme.
• After this you will have to fill all the required information and submit. In this way your Atal Pension Yojana account will be opened.
• However, users will have to keep some things in mind while registering with eAPY.

Keep these things in mind

• Your bank records must match in eAPY registration.
• To pay the first installment of Atal Pension Yojana, there should be balance in the savings account.
• The name and date of birth given in the Aadhaar Card should be correct.

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There are many such government schemes in which the child’s future can be secured by investing. Atal Pension is also a similar scheme. Narendra Modi government had started this scheme in its first term. In this scheme, you can arrange for child’s pension with a nominal investment of just Rs 42. However, for this it is necessary that the age of the child is 18 years. Let us know about this scheme in detail.

Under Atal Pension Yojana, the contributor will get a lifetime minimum guaranteed pension ranging from Rs 1000 to Rs 5,000 per month depending on his contribution from the age of 60 years. This amount will vary depending on the age of joining Atal Pension Yojana. There is a minimum contribution of Rs 42 in the scheme. This is for investors above 18 years of age. After the death of the contributor, equal pension will be paid to the spouse. On the death of both the contributory spouse, the total pension amount will be given to the nominee till the age of 60 years.

Let us tell you that the maximum amount of contribution per month is Rs 1454. After 60 years on this investment the investor will get a pension of Rs 5000. Let us tell you that the total amount on this investment will be Rs 8.5 lakh.

Investment period up to 22 years

Let us tell you that Atal Pension Yojana is for all those bank account holders who want to join. The minimum age to join the scheme is 18 years and maximum age is 42 years. That is to say, the period of contribution by the subscriber under the scheme is 22 years. All bank account holders can join the scheme with auto-debit facility in accounts.

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This has been said by Deepak Mohanty, Chairman of Pension Fund Regulatory and Development Authority (PFRDA). This pension plan with guaranteed returns can come as an option under the National Pension Scheme (NPS). This pension plan will cater to the needs of those who are looking for guaranteed returns on their investments.

Target of 1.3 crore enrollment in Atal Pension Scheme this year

PFRDA chairman Deepak Mohanty said, “There is a lot of work going on…we have to strike a balance between risk and return…if someone gives trust, it has a value. In Atal Pension Scheme, the government gives assurance and the customer pays the price. He said that in case of fixed returns, more capital should be provided to the pension fund as it is taking more risk. He has also said that there are about 5.3 crore subscribers in the Atal Pension Yojana (APY). This year the target of enrollment in the scheme is 1.3 crore, which was 1.2 crore last year.

Asked to increase the monthly pension amount

Pension regulator PFRDA chairman Deepak Mohanty said in an interview to CNBC-TV18 that the regulator has asked the government to increase the maximum monthly pension amount under the government-guaranteed Atal Pension Yojana (APY) from Rs 5,000. However, he has acknowledged that there are several financial constraints.

He said that the target of pension regulator is to increase the enrollment under the scheme, on this front the regional rural banks are doing very well. Atal Pension Yojana has generated a return of 9% and the government has assured gap funding for the scheme.

PFRDA Chairman Mohanty has said that keeping investments in the market for 5-6 years can provide assured returns, but the lack of absolute certainty creates difficulties for some. To overcome this problem, PFRDA is preparing such a scheme, which offers assured returns. However, it will cost additional.

Disclaimer: Here only the information about the performance of the stock is given, it is not an investment advice. Investment in share market is subject to risk and you should consult your advisor before investing.

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With the help of de-remit from this UPI handle, money can be deposited in NPS and Atal Pension Yojana (APY). Till now, money could be deposited in NPS and APY schemes only through net banking. In net banking, money was deposited with the help of IMPS, NEFT or RTGS. Now a new facility of UPI has been added to it. With the help of this, customers will be able to deposit money in the account in real time and they will also know the status immediately.

As per PFRDA, the UPI handle for de-remit has been introduced whose address is PFRDA.15digitVirtualAccount@axisbank. PFRDA has told that if money is deposited through UPI before 9.30 am, it will be counted in the payment of the same day. If money is deposited in NPS or APY after 9.30 am, then it will be considered as investment for the next day.

PFRDA runs two types of pension schemes. This includes the National Pension System i.e. NPS and Atal Pension Yojana. NPS is for those working in the organized sector while employees of the non-organized sector can also take advantage of APY. NPS was started in 2003. Central employees who have been joining since January 1, 2004, they are required to join NPS. Armed forces have been kept out of this. In May 2009, private sector employees and people working in the unorganized sector were included in the NPS.

To deposit money in NPS and APY, you have to create a virtual account first. Only after that money can be deposited through UPI.

How to deposit money with UPI

1. Visit the Central Recordkeeping Agency (CRA) system and log on to the ENPS website
2. Fill the details to verify the Permanent Retirement Account Number (PRAN)
3. Enter the OTP received on the mobile and select the account (Tier 1 or II) for which the virtual account is to be created
4. Further, select the option ‘Generate Virtual Account’. An acknowledgment number will appear
5. Enter the 15-digit VAN in the UPI handle. Then type ‘PFRDA.15digitVirtualAccount@axisbank’ to make payment
6. Now enter the amount you want to deposit, make the payment

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