Atal Pension Yojana: Everyone is worried about old age. If you are also planning to invest in a safe place to keep your retirement secure, then you can invest money in the government’s Atal Pension Yojana (APY). Atal Pension Yojana was launched in the year 2015. At that time it was started for the people working in the unorganized sectors, but now any Indian citizen of 18 to 40 years can invest in this scheme and avail pension. Those who have an account in a bank or post office can easily invest in it. In this scheme, the depositors start getting pensions after 60 years.
What is Atal Pension Yojana
Atal Pension Scheme is such a government scheme in which the investment made by you depends on your age. Under this scheme, you can get a minimum monthly pension of Rs 1,000, Rs 2000, Rs 3000, Rs 4000, and a maximum of Rs 5,000. This is a safe investment in which if you want to register then you need to have a savings account, Aadhar number, and a mobile number.
What are the benefits of this plan?
Under this scheme, people of 18 to 40 years can make their nominations in Atal Pension Yojana. For this, the applicant must have a savings account in a bank or post office. Also, keep in mind that you can only have one Atal Pension Account. The sooner you invest under this scheme, the more benefit you will get. If a person joins the Atal Pension Yojana at the age of 18, then after the age of 60, he will have to deposit just Rs 210 per month for a monthly pension of Rs 5000 every month. In this way, this plan is a good profit plan.
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How to get Rs 5000 monthly pension
That is, if you deposit 7 rupees every day in this scheme, then you can get a pension of 5000 rupees per month. At the same time, for a monthly pension of Rs 1000 every month, only Rs 42 will have to be deposited per month. And every month Rs 84 for Rs 2000 pension, Rs 126 for Rs 3000 and Rs 168 for a monthly pension of Rs 4000 will have to be deposited every month.
tax benefit
People investing in Atal Pension Yojana also get a tax benefit of up to Rs 1.5 lakh under Income Tax Act 80C. Taxable income is deducted from this. Apart from this, the additional tax benefit of up to Rs 50,000 is available in some cases. Overall, a deduction of up to Rs 2 lakh is available in this scheme.
Provision on death before 60 years
There is such a provision in this scheme that if the person associated with the scheme dies before 60 years, then his wife/husband can continue to deposit money in this scheme and get a pension every month after 60 years. There is also an option that the wife of that person can claim the lump sum amount after the death of her husband. If the wife also dies, then a lump sum amount is given to her nominee.
