The sooner you invest in Atal Pension Yojana, the more benefit you will get
APY: The government guarantees a pension of 1000 to 5000 rupees per month after 60 years.
Under section 80CCD of income tax in APY, it gets the benefit of tax exemption.
New Delhi. You can make your old age better by saving just 7 rupees daily. This is less than the cost of a cup of tea. You can do this under Atal Pension Yojana (Atal Pension Yojana-APY). You can get a pension of Rs 5000 every month for less than the cost of a cup of tea. The popularity of Atal Pension Yojana, the flagship social security scheme of the central government, is skyrocketing. According to the Pension Fund Regulatory and Development Authority (PFRDA), there has been a jump of 28.46 per cent in the number of subscribers of Atal Pension Yojana in 11 months of the current financial year.
Modi government started Atal Pension Yojana in 2015. All citizens in the age group of 18 to 40 years can be a part of this scheme. However, after October 1, 2022, only those people who do not pay income tax can apply for APY. Under the scheme, a subscriber is guaranteed a monthly pension of Rs 1,000 to Rs 5,000 depending on his contribution after he attains the age of 60 years. On the death of the subscriber, this pension amount is given to his spouse. In this, under section 80CCD of income tax, it also gets the benefit of tax exemption.
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Will get a pension of Rs 5000 every month
Explain that Atal Pension Yojana is a good option for guaranteeing pension by investing less money. Under the Atal Pension Yojana, on making a fixed contribution every month in the account, after retirement, a pension of Rs 1,000 to Rs 5,000 will be received. According to the current rules, if at the age of 18 years, a maximum of Rs 5,000 is added to the scheme for monthly pension, then you will have to pay Rs 210 every month. If you give this money every three months, then you will have to pay Rs 626 and if you give it in six months, you will have to pay Rs 1,239. If you invest at the age of 18 to get a pension of Rs 1,000 a month, then you will have to pay Rs 42 monthly.
Tags: Atal pension, pension fund, pension scheme, Pensioners
FIRST PUBLISHED : March 18, 2023, 18:59 IST