Atal Pension Yojana: There are many guaranteed pension schemes of the government. By joining this, after the age of 60, you will continue to get a certain amount every month as a pension.
Atal Pension Yojana: If you are worried about retirement, then government schemes will help you for that. In this, you can prepare for your retirement by investing a small amount every month. Meaning if you want to live in luxury even after 60, then you can take advantage of these government schemes. Actually, there are many guaranteed pension schemes of the government. By joining this, after the age of 60, you will continue to get a certain amount every month as a pension.
Atal Pension Scheme is a pension scheme of the Government of India, which has been made keeping in mind the workers of the unorganized sector. In this, the retired customers can be able to earn a fixed monthly pension of up to Rs 1,000-5,000. Atal Pension Yojana is also available in the branch of India Post, which supports core-banking solution.
Subscription on choice of age and monthly pension
Under Atal Pension Yojana, a predetermined amount is deducted from the subscriber’s bank account as a contribution to the retirement fund. The quantum of contribution varies depending on the age of the subscriber and choice of monthly pension etc.
Who can take the scheme?
In this, people in the age group of 18-40 years can enroll in Atal Pension Yojana. The applicant must have a savings account with a bank or post office. Each subscriber can have only one Atal Pension Account.
How much will you get pension?
The present Atal Pension Yojana provides five fixed monthly pension options under the Atal Pension Yojana. In this, there is a provision of getting monthly pension up to Rs 1,000, 2,000, 3,000, 4,000 and 5000 at the age of 60.
Auto debit facility
The amount chosen by you at the time of registration on monthly, quarterly or half yearly basis will be directly deducted from your account. The amount can vary from Rs 42 to Rs 1454. The first installment is deducted from the customer’s savings account at the time of registration. You can change the auto debit facility in the month of April.
Guaranteed minimum pension
Atal Pension Yojana guarantees minimum pension. That is, the government covers any shortfall in the actual return as compared to the return received during the contribution period. On the other hand, high returns are paid to the subscriber.
Option to make payment of outstanding contribution
If a customer does not have sufficient amount in the savings account on the due date, then this plan gives an option to pay the late installment along with the outstanding interest. For every 100 rupees, you have to pay 1 rupee extra.
Provision on death before 60 years
If the person associated with the scheme dies before 60 years, then his wife / husband can continue to deposit money in this scheme and can get pension every month after 60 years. One option is 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.
