Atal Pension Yojana: If an investor becomes a subscriber of Atal Pension Yojana at the age of 18 years, then he will have to invest only Rs 210 per month to get a pension of Rs 5000 per month on retirement.
Atal Pension Yojana: There is a guaranteed scheme of the Central Government for old age pension, in which you have to pay a nominal premium. This is Atal Pension Yojana. This scheme was brought keeping in mind the workers in the unorganized sector. The government started this scheme in the financial year 2015-16. In this scheme, the investor gets a guaranteed pension of one thousand or two thousand or three thousand or four thousand or five thousand rupees per month from the age of 60 years. The amount of pension depends on the contribution made by the subscriber. Any Indian citizen can avail the benefits of Atal Pension Yojana.
Ability
Subscriber’s age should be between 18 to 40 years. That means, to get the benefit of pension, you will have to invest for at least 20 years.
Subscriber must have a Savings Bank Account or Post Office Savings Bank Account.
Investment of only Rs 7 per month
If an investor becomes a subscriber of Atal Pension Yojana at the age of 18, he will have to invest only Rs 210 per month to get a pension of Rs 5000 per month on retirement. That means only Rs 7 per day. At the same time, to get a monthly pension of Rs 1000, you will need to invest only Rs 42 per month.
Both husband and wife can avail benefits
Both husband and wife can avail the benefits of Atal Pension Yojana. In this way, a maximum pension of Rs 10,000 will come to the house every month. If one of the spouses dies, the other one will get the pension benefit. However, if both of them die, all the money will be returned to the nominee.
How to open APY account?
Go to the bank branch or post office where you have an account or if you do not have an account, open a savings account.
Fill the Atal Pension Yojana Registration Form with the help of the bank staff by giving the bank account number or post office savings bank account number.
Provide Aadhaar/mobile number. This is not mandatory, but is good for convenience of communication.
Ensure necessary balance in the savings bank account or post office account from which monthly/quarterly/half yearly/annual contributions can be transferred.
