5000 rupees a month pension will be available for just depositing Rs 210 every month

Central Government pension scheme

Atal Pension Yojana is a good option to guarantee pension in low investment. Currently, under the Atal Pension Yojana, the government guarantees a pension of 1000 to 5000 rupees per month and a person up to the age of 40 years can apply for the Atal Pension Yojana. Let us know how you can take advantage of Atal Pension Yojana according to the current rules.

60,000 rupees pension annually

The objective of the Atal Pension Yojana is to bring every section of the pension under its purview. However, the Pension Fund Regulatory and Development Authority (PFRDA) has recommended the government to increase the maximum age under the Atal Pension Yojana (APY). Under the scheme, after making a fixed contribution to the account every month, after retirement, you will get a pension ranging from Rs. 1000 to Rs. 5000. After investing 60 rupees every 6 months, the government is giving a guarantee of a lifetime pension of Rs 5000 a month or 60,000 rupees annually after the age of 60 years.

Also Read This: Saral Pension Scheme will start from April 1, know what benefits will be available in it

210 rupees to be paid every month

According to the current rules, if at the age of 18, a maximum of 5 thousand rupees are added to the monthly pension, then you will have to pay 210 rupees every month. If you give this money every three months, then you will have to pay Rs 626 and if you give it in six months, then Rs 1,239. If you invest at the age of 18 to get a pension of Rs 1,000 a month, then you have to pay Rs 42 monthly.

You will get more benefits by joining at a young age

Suppose if you join at the age of 35 for 5 thousand pension, then for 5 years for 25 years, you will have to deposit Rs 5,323. In this case, your total investment will be Rs 2.66 lakh, on which you will get a monthly pension of Rs 5 thousand. While joining at the age of 18, your total investment will be only 1.04 lakh rupees. That is, about 1.60 lakh rupees more will have to be invested for a single pension.

Other things related to the scheme 

– You can choose 3 types of plan for payment, monthly investment, quarterly investment or half-yearly investment.
– You have to invest this for 42 years.
– Your total investment in 42 years will be 1.04 lakh rupees.
In lieu of this, after 60 years, you will continue to get a pension of 5 thousand rupees every month for a lifetime.
– The scheme is governed by the Pension Fund Regulatory and Development Authority through the National Pension Scheme.
Under Section 80CCD of Income Tax, there is a benefit of tax exemption. 
– Only 1 account will be opened in the name of a member. Many banks have the facility to open accounts.
The contribution amount will also be given by the government for the first 5 years.
– If the member dies before or after 60 years, the pension amount will be given to the wife.
– If both the member and the wife are killed then the government will give pension to the nominee.

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