Atal Pension Yojana is a better option for those working in the unorganized sector. In this, you can get fixed pension after the age of 60.
The government is running the Atal Pension Yojana to ensure that those working in the unorganized sector do not have to be fascinated for money in old age. In this, you can get pension ranging from 1 thousand to 5 thousand. For this, you will have to save only 248 rupees every month. The specialty of the scheme is that the sooner it will be invested, the more the fund will accumulate.
After investing in the Atal Pension Yojana, beneficiaries get pension every month after the age of 60 years. If the beneficiary dies, the pension amount is paid to the investor’s wife or nominee. The scheme is operated by the Pension Fund Regulatory and Development Authority (PFRDA).
Who can take advantage of the scheme
People working in the unorganized sector, including laborers, daily workers, private jobbers, can be taken advantage of the Atal Pension Yojana. It is a social security scheme of the central government. This scheme was started by the Central Government in the year 2015. To avail this plan, you have to invest for 20 years. The minimum age of the investor should be 18 years and maximum 40 years.
Benefits of the scheme
1. Up to 1000, 2000, 3000 and 5000 rupees pension can be obtained under this scheme.
2. Under the scheme, if the person dies before 60 years, then his wife can continue to deposit the money in the scheme and get pension every month after 60 years.
3. If the wife does not want to deposit the money, then she can claim the lump sum deposited so far.
4. If Ashhandarak’s wife also dies, then the nominee will get the money for the scheme.
How to get 5 thousand rupees
If you want to get a pension of 5000 rupees then you have to pay a premium of 248 rupees per month. You have to do this for 20 years. After doing this, after the age of 60, you will get a pension of 5 thousand rupees every month.
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