However, to take advantage of this scheme, one has to visit the government office. Many times it is not possible for the elderly to do this. In such a situation, today we are going to tell you how you can take advantage of this scheme without going to the office. Please tell that you can also apply in the old age pension scheme of Uttar Pradesh government through online mode.

This much pension is given to the elderly

Under the Vaddha Pension Scheme of the UP Government, a pension of Rs 1,000 is given every month to the elderly by the UP Government. In this, Rs 800 is given by the state government and Rs 200 is given by the central government. Only those people who are residents of Uttar Pradesh can apply for this scheme.

Whereas the annual income of a family living in rural areas should be Rs 46,080 and the income of a family living in urban areas should be Rs 56,460. Apart from this, it is important for the applicant that he is not taking benefit of any other scheme.

These documents are necessary

To take advantage of old age pension, you must have Aadhaar card, PAN card, bank details, passport size photo, income certificate, ration card and age certificate. To apply in this scheme, first of all you have to go to its official website sspy-up.gov.in. Here you will see the option of online application. By clicking on it you will have to fill the form. After this you have to upload the documents. After this you have to submit the form by filling the captcha code.

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But there are many such pension schemes from which individuals get benefits. Such as Old Age Pension Scheme, Widow Pension Scheme, and National Pension Scheme Scheme. But in all these pension schemes individuals have to wait for a very long time. Under all these pension schemes, the facility of pension is provided to the individuals at the age of 60 years.

But if we talk about the best pension scheme among all these pension schemes, then it can go to Saral Pension Yojana. You must be thinking that what is the name of the scheme, then we will provide you a brief description about it.

LIC Saral Pension Yojana

The name of this pension scheme brought by LIC is Saral Pension Yojana. Let us tell you that it comes in the list of a single premium pension plane. In this, a type of premium is required to be paid for taking the policy. As we have told above that in the coming pension schemes, pension facility is provided only after the age of 60 years. But there is no such circumstance under this pension scheme. Let us tell you that a great film has been launched by Life Insurance Corporation (LIC). Under this, by depositing the amount, you will be provided pension facility only from the age of 40 years.

Know more about Saral Pension Yojana

About this scheme of Life Insurance Corporation LIC, we have told you in the east that the name of this scheme is Saral Pension Yojana. It is also a single premium pension plan. Under which you need to pay premium only once at the time of taking the policy. Thereafter, you continue to get pension for the rest of your life. And on the death of the pensioner, the single premium amount is returned and given to his nominee.

Let us tell you that Saral Pension Yojana is an immediate annuity plan. Meaning you will start receiving pension only at the time of taking the policy. After taking this policy, the amount of pension you will start getting will be provided to you for the whole life.

How to take Saral Pension Yojana

Saral Pension Yojana 2022 Details: If you are interested in this pension scheme, then you can join this scheme mainly in two ways.

1. Single Life:- Under this, there is a policy in the name of any one. As long as the pensioner is alive, he continues to get pension under this scheme, but when he dies, the amount of his base premium is returned to his nominee.
2. Joint Life:- Under this, both the spouses have coverage. As long as the primary pensioners are alive, they will continue to get pension. After his death, his life partner will continue to get pension for the rest of his life. If he dies, his best premium is handed over to his nominee.

Know who can take advantage of Saral Pension Yojana

To take advantage of this scheme, the minimum age limit has been fixed at 40 years and the maximum age limit has been fixed at 80 years. Because it is a whole life policy under which the pensioner gets whole life pension till he is alive. Saral Pension Policy can be surrendered anytime after 6 months from the date of commencement.

Till when can I get pension

From when to take the pension, this decision would have been taken by the pensioner only. In this, four options are provided to the equality pension holders. in which

1. Pension can be taken every month
2. Can be received after every 3 months
3. Pension can be taken after every 6 months
4. Pension facility is available even after 12 months

You have to get pension by selecting any one of these options.

How much pension will be provided up to Rs.

To get pension, you have to take care of a special thing that how much you get a policy under this scheme. That is to say, you have to pay according to the amount of pension you want to get. If you want to take ₹ 1000 pension, ₹ 3000 for 3 months, ₹ 6000 for 6 months, and ₹ 12000 for 12 months is the minimum pension. There is no maximum limit for this.

If the age of the person is 40 years and he has deposited a single premium of ₹ 1000000, then he will be provided ₹ 50250 annually. And let us tell you that he will continue to receive this pension for life. If for any reason the person gets the situation to withdraw the amount in the middle, then the balance amount is returned to him after deducting 5%.

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What is Atal Pension Yojana?

Atal Pension Scheme is such a government scheme in which the investment made by you depends on your age. Under this scheme, you can get a minimum monthly pension of Rs 1,000, Rs 2000, Rs 3000, Rs 4000 and a maximum of Rs 5,000. This is a safe investment.

Who can invest?

Atal Pension Yojana was started in the year 2015. At that time it was started for the people working in the unorganized sectors, but now any Indian citizen of 18 to 40 years can invest in this scheme. In this scheme, the depositors start getting pension after 60 years.

How to get Rs 3,000 pension

People below the age of 39 years can apply in this scheme. If your wife is 25 years old, then you have to contribute Rs 226 every month to the APY account. If your wife’s age is 39 years, then you have to put Rs 792 in your APY account every month. In addition to the guaranteed monthly pension, if the account holder dies, the nominee will get Rs 5.1 lakh along with full life pension every month.

Benefits of the plan

Under this scheme, people of 18 to 40 years can make their nomination in Atal Pension Yojana. For this, the applicant must have a savings account in a bank or post office. You can have only one Atal Pension Account. The sooner you invest under this scheme, the more benefit you will get. If a person joins the Atal Pension Yojana at the age of 18, then after the age of 60, he will have to deposit just Rs 210 per month for a monthly pension of Rs 5000 every month. In this way, this plan is a good profit plan.

Tax Benefit Scheme

If you pay income tax then you will also get tax benefit in this scheme. People investing in Atal Pension Yojana get a tax benefit of up to Rs 1.5 lakh under Income Tax Act 80C. In case of untimely death of the person who is associated with this scheme, then his family continues to get the benefit. 

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Government is running many schemes

To secure your retirement, the central government has made many schemes, where you can invest.

If you are employed, then you must also think that when you retire, you will get a huge amount every month in the form of pension. But for this you have to invest from today itself, so that after 60 years your old age can be secure.

What is NPS Scheme

National Pension System (NPS) is a government pension scheme consisting of both equity and debt instruments. NPS gets a guarantee from the government. To get higher monthly pension after retirement, you should invest in NPS scheme.

Income tax exemption

NPS pension scheme is a government scheme like Public Provident Fund (PPF), Employees Provident Fund (EPF), Sukanya Samriddhi Yojana etc.

In this, any investor can also increase his monthly pension amount by making the right use of maturity amount. Through NPS, you can save tax up to Rs 2 lakh annually.

You can save tax up to a maximum of Rs 1.5 lakh under Section 80C of Income Tax. If you invest in NPS, you will get an additional tax exemption of up to Rs 50,000.

Will get monthly pension of Rs 2 lakh

If you deposit 5000 rupees every month for 40 years in NPC, you will get 1.91 crores. After this you will get 2 lakh monthly pension on investment of maturity amount.

Under this, you will also get a monthly return of Rs 1.43 lakh and Rs 63,768 from the Systematic Withdrawal Plan (SWP). In this, a monthly pension of Rs 63,768 will continue to be received from the annuity till the investor is alive.

Monthly pension of Rs 63,768 in 20 years

If you invest Rs 5000 every month from 20 years to retirement, then you will get a lump sum maturity amount of 1.91 crores to 1.27 crores. After this, you can get a monthly pension of Rs 63,768 every month at Rs 1.27 crore with 6% return.

There are two types of NPS

There are two types of NPS, NPS Tier 1, and NPS Tier 2. The minimum investment in Tier-1 is Rs 500 while in Tier-2 it is Rs 1000. However, there is no maximum limit for investment.

There are three investment options available in NPS, in which the investor has to choose where his money will be invested. Equity, Corporate Debt and Government Bonds.

With more exposure to equities, it also gives higher returns. Keep in mind that you should do any investment only after talking to your investment advisor.

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