Earn 5000 rupees every month by saving 7 rupees a day! The government has a great scheme!
Earn 5000 rupees every month by saving 7 rupees a day! The government has a great scheme! Atal Pension Yojana is a successful pension scheme administered by the Govt. The scheme is administered by the insurance regulator PFRDA.
This scheme is specially for the unorganized sector employees. On this scheme, the Government of India guarantees all pension related benefits. If you also want to take advantage of this scheme and get a pension of Rs 5000 per month then you can join this scheme.
Anyone above 18 years and upto 40 years of age can take this scheme. Investment under this scheme has to be continued for at least 20 years. Most importantly for APY scheme you need to have a bank account which is linked with Aadhaar.
SBI and private sector banks are also opening Atal Pension Yojana accounts. 5000 rupees per month pension as we said this scheme is for unorganized sector people, whose earnings are not much, this scheme has been brought after thinking how their expenses will be after 60 years. Only people outside the income tax slab can avail the benefit of this scheme.
In Atal Pension Yojana (APY) minimum 1000 rupees and maximum 5000 rupees pension can be availed per month. If you are 18 years of age, then you can avail this scheme. The amount invested in it varies with age. The earlier you start investing, the less you have to contribute. Consider that if you start investing at age 18, for a monthly pension of Rs 5000, you need to deposit Rs 210 per month, that is Rs 7 per day.
If you start investing in this scheme at 30 years, you will have to pay Rs 577 per month and if your age is 39 years, you will have to pay Rs 1318 per month. The contribution will be determined according to the age.On starting investment at the age of 18, monthly contribution is Rs.210.Annual contribution is Rs.2520.In 42 years, the contribution is Rs.105840.Pension is Rs.5000.
Contribution per annum Rs 157920 Pension Rs 5000 Nominee will get Rs 8.5 lakh If someone dies suddenly in Atal Pension Yojana (APY), your family benefits. On the death of a person, his wife and on the death of the wife the children get pension.
In lockdown, trend towards APY is increasing rapidly. According to PFRDA, the number of account holders of schemes like Rashtriya Pension Yojana and Atal Pension Yojana increased by 23 per cent to 4.24 crore during the financial year ended 31 March 2021. The number of Atal Pension Yojana account holders has increased by nearly 33 percent and added more than 77 lakh new customers.