Last updated:
By investing in Atal Pension Yojana (APY), you can get a fixed pension ranging from ₹ 1000 to ₹ 5000 every month after the age of 60 years. After death, pension is given to the spouse and then the nominee gets the full amount. This government scheme is very beneficial for safe retirement.
Atal Pension Scheme Investment: Atal Pension Yojana is support for those who worry about regular income in old age. Yes, the objective of this scheme launched by the central government is to give pension ranging from ₹ 1,000 to ₹ 5,000 every month to needy and low -income citizens after the age of 60 years. Any citizen between the ages of 18 and 40 can join this scheme and can deposit a certain amount every month, the government also contributes some amount to it, which strengthens the fund.
Income will continue even after retirement: If you want to continue your income even after retirement, then Atal Pension Yojana is a great option. Through this scheme, after the age of 60, you get a pension ranging from ₹ 1,000 to ₹ 5,000 every month, but this pension depends on how much amount has been deposited in the scheme. If a customer dies, then this pension is given to his spouse. Apart from this, if both of them die, then all the money comes in the hands of the nominee.
Easy way to get a pension of Rs 5000 per month: You can get a pension of up to Rs 5000 after retirement by depositing a little amount every month in Atal Pension Yojana (APY). For example, suppose you are 18 years old and you invest ₹ 210 in just 7 rupees a day i.e. a month, then after the age of 60, you can get a pension of ₹ 5000 every month. If you invest in only ₹ 42 months, then you can get the benefit of pension of ₹ 1000. It is necessary to invest for at least 20 years in this scheme. If you start investing at the age of 40, then at the age of 60 you will start getting pension.
What is the eligibility for the plan? : Some important conditions have been set to join the Atal Pension Yojana. To apply in this scheme, the person should be at least 18 years and maximum 40 years. Apart from this, the applicant should have an active bank account, which is linked to Aadhaar card and KYC and only Indian citizens can avail this scheme.
How to apply for Atal Pension Scheme? : If you want to take advantage of Atal Pension Yojana, then its process is very easy. Follow these steps- First, go to your nearest bank branch and get the form of Atal Pension Yojana and fill it. Fill the information sought in the form like name, age, Aadhaar number, bank account details etc. and put necessary documents. Then after submitting the form, bank officials will confirm your information. During this time you will be asked which pension scheme you want to choose from ₹ 1000 to ₹ 5000. After the process is successfully completed, your account will be linked to the scheme.
Note: This article is only for information and it should not be considered as investment advice in any way, it is advisable to consult financial advisors for investment.
