Atal pension Yojana: This government scheme is a good option to guarantee pension in a small investment. Currently, under the Atal Pension Yojana, the government guarantees a pension of 1000 to 5000 rupees per month after 60 years. It is clear that a person will definitely get a pension of Rs 60,000 annually. Let us know how registration will have to be done for Atal Pension Yojana and what are its benefits.
In lieu of your invested amount in this pension scheme, the government will give pension after 60 years. Under the scheme, on making a fixed contribution every month in the account, after retirement, a pension of Rs 1 thousand to Rs 5 thousand will be given monthly.
have to pay such amount
According to the current rules, if at the age of 18 years, a maximum of Rs 5000 is added to the scheme for monthly pension, then you will have to pay Rs 210 every month. If the same money is given every three months, then Rs 626 will have to be given and Rs 1,239 will have to be given in six months.
To get a pension of Rs 1,000 a month, if you invest at the age of 18, you will have to pay Rs 42 per month.
Big advantage on investment at a young age
Suppose if you join at the age of 35 for 5 thousand pension, then for 25 years you will have to deposit Rs 5,323 every 6 months. In this case, your total investment will be Rs 2.66 lakh. On that amount you will get a monthly pension of Rs 5000.
On the other hand, if you join at the age of 18, your total investment will be only Rs 1.04 lakh. That is, if you are older, you will have to invest about Rs 1.60 lakh more for the same pension.
Highlights of the plan
- You can choose 3 types of plans for its payment, Monthly investment, Quarterly investment or Half yearly investment.
- Under section 80 CCD of Income Tax, it gets the benefit of tax exemption.
- Only 1 pension account will be opened in the name of a member.
- If the member dies before or after 60 years, then the pension amount will be given to his wife.
- If both the member and the wife dies, then the government will give pension to their nominee.