The biggest worry in old age is managing monthly expenses. If you have retired from the job, then you will not get salary. In such a situation, there is tension about how to manage monthly expenses. In such a situation, pension is the biggest support in old age. One such support in old age is Atal Pension Yojana (APY).
Atal Pension Scheme: The biggest worry in old age is managing monthly expenses. If you have retired from the job, then you do not get salary. In such a situation, there is tension about how to manage monthly expenses. In such a situation, pension is the biggest support in old age. One such support in old age is Atal Pension Yojana (APY). This government scheme not only provides financial security after retirement, but also provides great support to those people who work in the unorganized sector.
Why is Atal Pension Yojana special
There is no regular income in old age, in such a situation, investing in this scheme can make your old age secure. By making small investments at the right time, you can get big and regular income from this scheme. If you invest only Rs 210 per month in Atal Pension Scheme from the age of 18, then after the age of 60, you can get a pension of Rs 5000 per month.
What is Atal Pension Yojana
The Government of India runs many schemes for the citizens. One of these schemes is Atal Pension Scheme. Under this scheme, people get the benefit of pension. People between the ages of 18 and 40 can avail the benefits of this scheme. More than 56 lakh nominations have been made so far in the year 2024-25 in Atal Pension Yojana i.e. APY Scheme. At the same time, 7 crore people have joined the Atal Pension Scheme so far. By investing in this scheme, any citizen can get a pension of Rs 1,000 to Rs 5,000 every month after the age of 60 years.
Less contribution, more benefit
If you start investing at the age of 18, then by investing only Rs 210 per month i.e. only Rs 7 per day, you can get a monthly pension of Rs 5,000 after the age of 60. Atal Pension Yojana (APY), one of the important schemes of Prime Minister Narendra Modi, has emerged as a revolutionary scheme for the elderly. More than seven crore people have joined this scheme so far. In such a situation, let us tell you in detail about the Atal Pension Yojana, through which the elderly will get five thousand pension every month.
When did it start
Actually, the central government started the Atal Pension Yojana for Indian citizens on 9 May 2015. Under this scheme, the citizen gets the facility of pension at the age of 60 years. This scheme is for the workers of the unorganized sector in India, the poor and the deprived, which is regulated by the Pension Fund Regulatory and Development Authority.
What is the eligibility
The age for Atal Pension Yojana should be between 18 to 40 years. It is necessary to invest in it for 20 years. Apart from this, he should have a savings bank account in a post office or savings bank. Under the scheme, the beneficiary is given a pension of Rs 1,000 to Rs 5000 per month. This pension will be available only at the age of 60 years. However, the beneficiary is allowed to invest from Rs 42 to Rs 210 in this scheme. The age of those investing in the scheme is 40 years and he has to invest in a scheme ranging from Rs 291 to Rs 1,454.
What if the beneficiary dies?
If the beneficiary dies before the age of 60, his family will get financial help. They will have to continue investing in the beneficiary’s pension fund. However, they will also have another option to withdraw the amount present in the account. Application for Atal Pension Yojana can be done online and offline. To avail the benefits of this scheme, you will have to contact the nearest banks. After this you can avail the benefits of the scheme.
