look news india
Speaking at an event to mark the launch of NPS Vatsalya Yojana, Sitharaman said the total amount deposited under the scheme has risen to Rs 35,149 crore. APY is a low-cost pension scheme that guarantees a minimum pension of Rs 1,000-5,000 per month after the age of 60 (depending on the contribution of shareholders). On the death of a shareholder, his/her spouse will be given the same pension for life. On the death of both the shareholder and the spouse, the entire amount is given to the nominee. She said 6.90 crore people have subscribed to the Atal Pension Yojana since its launch in 2015 and a fund of Rs 35,149 crore has been deposited.
Just deposit Rs 210 and get Rs 5000 monthly pension
By depositing just Rs 210 per month, you can get a maximum pension of Rs 5,000 per month after retirement i.e. after 60 years. The name of this government scheme is Atal Pension Yojana which provides guaranteed pension every month. According to the current rules, if a maximum of Rs 5,000 is added to the monthly pension at the age of 18, you will have to pay Rs 210 per month. If you pay the same amount every three months, you will have to pay Rs 626 and if you pay every six months, you will have to pay Rs 1,239. To get a pension of Rs 1,000 per month, if you invest at the age of 18, you will have to pay Rs 42 per month.
What is Atal Pension Yojana?
The government has launched Atal Pension Yojana in the budget 2015-16 with a view to income security in old age. Through this scheme, the government is encouraging the common people, especially those from the unorganized sector, to save as much as possible. People from the unorganized sector will also have to be protected from the risk of not having any income after retirement. This scheme is run by the Pension Fund Regulatory and Development Authority (PFRDA).
Pension of Rs 5,000 per month will be given
Under the Atal Pension Yojana, subscribers get a pension ranging from Rs 1,000 to Rs 5,000 per month. The Government of India guarantees a minimum pension benefit. The central government contributes 50 per cent of the subscriber's contribution or Rs 1,000 per year, whichever is less. Government contribution is paid to those who do not come under any statutory social security scheme and are not taxpayers. The scheme offers pensions of Rs 1,000, 2000, 3,000, 4,000 and 5,000. Investment also depends on the pension amount. If you join at a young age, you get more benefits.