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News India Live, Digital Desk: If you want to make your old age financially secure and want that after the age of 60, you continue to get a fixed amount of money sitting at home every month, then the government’s ‘Atal Pension Yojana’ (APY) can be a great option for you. This is such a government scheme in which by depositing a very small amount you can arrange a big pension for yourself.
The most important thing is that the sooner you start investing in this scheme, the less money you will have to deposit every month.
How does this scheme work?
‘Atal Pension Yojana’ has been specially designed for those people who work in the unorganized sector and who do not have any facility like Provident Fund (PF) or gratuity. However, any Indian citizen whose age is between 18 to 40 years can invest in this scheme.
Under this scheme, you have to deposit a fixed amount every month till the age of 60 years. According to the money you have deposited and your age, it is decided how much pension you will get every month after 60 years of ₹ 1000, ₹ 2000, ₹ 3000, ₹ 4000 or ₹ 5000.
Get ₹5550 pension by depositing just ₹1000 per month
Yes, this is absolutely possible, but for this you need to be married. There is also a rule of ‘Atal Pension Yojana’ that if both husband and wife open separate accounts in this scheme, then both are entitled to get pension after the age of 60 years.
Suppose, there is a husband and wife, whose age is 30 years.
- If the husband opens his APY account for a monthly pension of ₹5000, he will have to pay Rs. ₹577 Must be deposited.
- Similarly, if the wife also opens her APY account for a monthly pension of ₹ 5000, she will also have to pay Rs. ₹577 Must be deposited.
- In this way, both together make a total of ₹1154 (Approximately ₹ 38 per day) will be deposited.
- When both of them turn 60, the husband will have to pay Rs. ₹5000 and the wife too ₹5000 Will get a pension of Rs.
- That is, the total amount to be paid to that family every month. ₹10,000 Will get a pension of Rs. (The figure of ₹ 5550 given in the article is not clear, the actual profit is much more.)
What are the other big benefits of this scheme?
- Government Guarantee: This is a government scheme, so your money is completely safe.
- Tax exemption: You get a rebate of up to ₹ 1.5 lakh under Section 80C of Income Tax on the amount deposited in this scheme.
- Benefits to Nominee: If the investor dies before the age of 60 years, his nominee (spouse) continues to receive this pension. And if both die, the entire amount deposited (approximately Rs 8.5 lakh) gets returned to their children.
So if you are also worried about your future, then you can start investing in ‘Atal Pension Yojana’ today itself. You can easily open this account by visiting any of your nearest bank or post office.