Pension… This word is a support for old age and everyone wants that after retirement, their old age should pass comfortably without any financial problems. For this, they also save from their earnings and plan to invest in such a place so that they do not have to depend on others for their expenses.

For such times, pension comes in handy i.e. it becomes a source of regular income. If you are young, then you can make your old age financially prosperous by depositing a small amount every month, so that there will be no need to depend on anyone. Atal Pension Yojana run by the government is very popular in this matter.

Guaranteed pension up to Rs 5000

To enjoy your old age, investing in Atal Pension Yojana will prove to be a profitable deal. This is a pension scheme and the government itself guarantees the pension. You can invest in this scheme by saving a small amount every day and depending on your investment, you can get a pension ranging from Rs 1,000 to Rs 5,000 every month. This means that your regular income is assured after retirement. The age limit for investing in APY Scheme has been fixed at 18 to 40 years.

Will have to invest for 20 years

To get pension under Atal Pension Yojana, it is necessary to invest for at least 20 years. After this your pension starts. If you understand it in another way, if you invest in this scheme at the age of 40, then you will have to continue investing till the age of 60. By investing in APY Scheme,

you not only get guaranteed pension but also many other benefits. By investing in this you can save tax up to Rs 1.5 lakh. This tax benefit is given under Section 80C of Income Tax. Keep in mind that people paying income tax cannot avail the benefit of this scheme.

This way you will get pension of Rs 5000 every month

Now let’s talk about the calculation of the pension you will get after investing in this scheme, to understand this, suppose your age is 18 years, then by depositing Rs 210 every month i.e. just Rs 7 per day in this scheme,

you can After 60, you can avail pension of Rs 5000 per month. Whereas if you want a pension of Rs 1,000 every month, then you will have to deposit only Rs 42 every month in this scheme during this period. You can also get a pension of Rs 10000 under this scheme.

This method for pension of Rs 10000

By joining Atal Pension Yojana, both husband and wife can avail pension of up to Rs 10,000 per month. Whereas if the husband dies before 60 years of age, then the wife will get pension facility. On the death of both husband and wife, the nominee will get the entire money back. The government started this scheme in the financial year 2015-16.

To open an account in this scheme, you must have a valid bank account, which is linked to Aadhar card. Apart from this, the applicant should have a mobile number. Should not already be a beneficiary of Atal Pension. Application for opening an APY account can be made by visiting the bank branch where your savings account is opened. More than 5 crore people have joined this scheme so far.

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With the aim of providing pension facility to the people working in the unorganized sector, the government had started the Atal Pension Yojana, in which the government is going to make a big change from October 1, 2022. The Central Government has amended the investment rules of Atal Pension Yojana, after which Income Taxpayers i.e. income tax payers will not be able to invest in ‘Atal Pension Yojana’. This change in ‘Atal Pension Yojana’ will be applicable from October 1.

While issuing a notification regarding the ‘Atal Pension Yojana’, the Finance Ministry said that from October 1, 2022, no taxpayer will be eligible to invest in APY. If any taxpayer opens an account in Atal Pension Yojana after October 1, 2022, then after scrutiny such account will be closed and till that time the money deposited in Atal Pension Yojana will be transferred to the customer’s account.

Will help in preventing misuse of ‘Atal Pension Yojana’

At the time of the launch of ‘Atal Pension Yojana’, the central government had said that through this scheme people working in the unorganized sector would get financial assistance. The government had told in the beginning of this scheme that this scheme is for the people of low income group. The investment expert said that with this step of the government, genuinely eligible people will be able to get the benefit of this scheme. It is a social security scheme, which is meant for low income people. After this notification of the Finance Ministry, it will help in preventing the misuse of this social security scheme.

Minimum guaranteed pension is available in Atal Pension Yojana

According to the investment of the investors of Atal Pension Yojana, minimum guaranteed pension is available after the age of 60 years. However, through this scheme, a person can get guaranteed pension ranging from Rs 1 thousand to Rs 5 thousand only. In this scheme, the investment amount is decided according to the return. At the same time, after the death of the person investing in this scheme, the nominee made by him gets his money.

‘Atal Pension Yojana’ launched in 2015

The ‘Atal Pension Yojana’ is being operated by the pension regulator PFRDA, which was started in the year 2015. This scheme was mainly started for people working in the unorganized sectors, but any Indian citizen of 18 to 40 years can invest in this scheme.

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