Great Pension Scheme: A person can start investing in a pension scheme between the age of 18 to 40 years, from which he can earn a fixed minimum monthly pension ranging from Rs 1000 to Rs 5000 depending on the contribution and age of the person.
Great Pension Scheme: Everyone plans to save money to enjoy life after retirement, so that even when he is not working, his expenses keep running well. In such a situation, you can invest Rs 210 per month for 42 years or Rs 1,454 per month for two decades to make the coming day better.
Atal Pension Yojana (Atal Pension Yojana, APY) is a government-run scheme mainly focused on the unorganized sector employees. An individual can start investing in a pension scheme between the age of 18 to 40 years, thereby earning a fixed minimum monthly pension ranging from Rs 1000 to Rs 5000, depending on the contribution and age of the individual.
APY is open to all citizens of India. This means that if the customer invests Rs 210 every month, he will get a total of Rs 60,000. All they need to do is open a savings account in a bank or post office.
Who can invest in Atal Pension Yojana?
As per PFRDA, APY is targeted at all citizens in the unorganized sector. The scheme was launched in May 2015 and is administered by PFRDA and implemented through all banks across the country. According to a report in NDTV, APY is good for those who belong to the low income group or individuals who do not have any fixed employment.
