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). Under this scheme, husband and wife can get a monthly pension of Rs 10,000 through separate accounts.
Who can invest
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 of age can avail pension by investing in this scheme. Those who have an account in a bank or post office can easily invest in it. In this scheme, the depositors start getting pension 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 scheme
Under this scheme, people of 18 to 40 years can make their nomination 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.
How to get pension of Rs 10,000
Spouses below the age of 39 years can avail this scheme separately, from which they will get a joint pension of Rs 10,000 every month after the age of 60 years. If husband and wife whose age is 30 years or less, they can contribute Rs 577 per month to their respective APY accounts. If the age of husband and wife is 35 years, then they have to deposit Rs 902 every month in their APY account. In addition to the guaranteed monthly pension, if either of the spouses dies, the surviving partner will get Rs 8.5 lakh along with full life pension every month.
Tax benefit
People investing in Atal Pension Yojana also get tax benefit of up to Rs 1.5 lakh under Income Tax Act 80C. Taxable income is deducted from this. Apart from this, additional tax benefit of up to Rs 50,000 is available in some cases. Overall, deduction of up to Rs 2 lakh is available in this scheme.
