Many such schemes have been started by the central government which will help you even in old age. Atal Pension Yojana is one such scheme of the government.
Atal Pension Yojana : The largest section of India belongs to the middle class family. Most of the people in this are employed. It is bound to happen that people are worried about the future after retirement. Even after retirement, some income continues to come, due to which their expenses are covered.
In such a situation, many such schemes have been started by the central government, which will help you even in old age. Atal Pension Yojana is one such scheme of the government. In this scheme, a person has to invest only Rs 210 in a month.
What is Atal Pension Yojana
Atal Pension Yojana ( Atal Pension Yojana ) is a government pension scheme launched by the Government of India which was launched on 1 June 2015. The main objective of this scheme is to provide a secure and regular pension to the Indian citizens, so that they can lead a comfortable life even in their old age.
The scheme is designed for different age groups and different pension amounts are prescribed depending on the age of the individual. In this, a person has to pay a fixed amount every year or every month from the starting age of pension till the whole life.
Get one to five thousand every month
The person involved in the scheme is given as pension from one month to five thousand rupees every month. To join the scheme, the person should be minimum 18 and maximum 40 years of age. This scheme has been made available through banks, post offices and other financial institutions.
The scheme is named after Atal Bihari Vajpayee, the former Prime Minister of the Government of Independent India and was part of its objective which included providing secure living facilities to the old and poor people of the society.
How to take advantage of Atal Pension Yojana
To join the Atal Pension Yojana, go to the nearest bank, post office or financial institution and get information about the necessary documents and process from the officials. To join the scheme, for this you must be minimum 18 years and maximum 40 years of age. You have to choose the amount of pension while joining the scheme. Depending on your selected age group and selected pension amount, you will have to contribute monthly or annually.
A valid bank account will be necessary at the time of joining the scheme, as the amount of the pension scheme will be deposited in your bank account only. The application form has to be filled for the scheme and necessary documents (Age Certificate, Aadhaar Card, PAN Card etc.) have to be submitted together. You will have to contribute to your selected pension scheme at regular intervals to the allotted organization after the application. You have to contribute regularly so that you can get regular pension as per the scheme.
Invest in Atal Pension Yojana for 20 years
To take advantage of Atal Pension Yojana, you need to invest for about 20 years. If you want a pension of five thousand rupees every month, then you will have to pay from Rs 42 to Rs 210. For example, a person starts investing in Atal Pension Yojana at the age of 18 years. He starts investing Rs.42 every month.
So he will get the benefit of pension of one thousand rupees every month after the age of 60 years. On the other hand, if a person deposits Rs 84, then he gets a pension of Rs 2,000. Whereas, on investing Rs 210 every month, a person will get a pension of Rs 5,000. If you invest in the scheme at the age of 40, then you have to invest Rs 1,454 every month. Similarly, different amount has to be given for the age of 19 to 39 years.
What is pension scheme
Pension Scheme” is a type of financial scheme whose objective is to provide regular and secure pension to retired employees, old, disabled, poor and helpless people at individual or group level. Its main objective is to help towards economic security of those people who get depressed after their working age and take retirement from professional life.
Under pension schemes, people contribute to build their future financial security so that they can lead a prosperous and secure life even in old age. The features and preferences of these pension schemes may differ under different governments and organizations.
