Atal Pension Yojana: If you are looking for a reliable pension scheme that can provide financial security in your old age, Atal Pension Yojana (APY) may be the right choice for you. The Government of India has made several changes to this scheme, making it accessible to all citizens between the ages of 18 and 40 years.
Atal Pension Yojana
Atal Pension Yojana is a pension scheme launched by the Government of India in 2015 to provide financial assistance to employees working in the unorganized sector. The scheme aims to help people save for their retirement and avoid financial dependence on anyone in their old age.
How to benefit from the scheme ?
To avail the scheme, you need to register online with your savings account, Aadhaar number and mobile number. Once you register, you need to start investing in the plan by depositing a small amount every month. The amount you deposit will determine the amount of pension you will get after the age of 60.
How much pension will you get?
Under APY, depending on the amount you invest every month, you get a minimum of Rs. 1000 to Rs. 5000 can get a monthly pension. For example, if you invest Rs 7 per month, you can get a pension of Rs 5000 per month. Similarly, if you spend Rs. 42, Rs. 84 or Rs. 126, you will get Rs. 1000, Rs. 2000 or Rs. 3000 monthly pension is available.
Features of Atal Pension Scheme
APY offers several benefits, such as a guaranteed monthly pension after the age of 60, which continues to be paid to the spouse after the death of the subscriber. In addition, the scheme under Section 80C of the Income Tax Act Rs. Also provides a tax benefit of up to 1.5 lakhs.
Conclusion (APY Yojana Update)
APY is an excellent pension scheme that provides financial security to people working in the unorganized sector. With a small investment every month, you can ensure regular income in your old age. So, if you are looking for a reliable pension scheme, APY may be the right choice for you. (APY Yojana Update)
FAQs
How much pension can be received under Atal Pension Yojana?
Under Atal Pension Yojana, a person can contribute at least Rs. 1,000 to a maximum of Rs. 5,000, can get a monthly pension based on their contribution.
What happens to the pension amount in case of death of the subscriber?
In case of death of the subscriber, the wife of the subscriber can continue to receive the pension amount. If the spouse also dies, the nominee of the subscriber can get the benefit.
Is there any tax benefit available under Atal Pension Yojana?
Yes, Rs. A tax benefit of up to 1.5 lakhs is available under Section 80C of the Income Tax Act.