By investing in APY Scheme, you not only get guaranteed pension but also get 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.
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 Aadhaar 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.
