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Pension is a great support in old age. Everyone wants a fixed income after retirement. So that life goes smoothly. If you are young, you can make your old age financially strong by depositing a small amount every month. So that you do not need anyone's help. For this, a pension scheme is also run by the government, about which we will tell you.
Guarantee up to Rs 5000, this is the age limit
The government runs the Atal Pension Scheme. In which the government itself guarantees the pension. Every month you can get pension ranging from Rs 1000 to Rs 5000. That means your income is fixed after retirement. The age limit for investing in APY scheme is fixed at 18 to 40 years.
investment for 20 years
To get pension under this scheme, it is necessary to invest for a minimum of 20 years. Then your pension starts. In other words, if you invest in this scheme at the age of 40, you will have to continue investing till the age of 60. By investing in this scheme, you get many benefits apart from pension guarantee. You can save tax up to Rs 1.5 lakh. This tax benefit is provided under Section 80C of Income Tax. However, income tax payers cannot avail the benefits of this scheme.
In this way you will get Rs 5000,
Understand pension calculation. Suppose your age is 18 years and by depositing Rs 210 per month i.e. just Rs 7 per day in this scheme, you can get a monthly pension of Rs 5000 after 60 years. If you want a pension of Rs 1000 per month, then you will have to deposit only Rs 42 per month under this scheme during this period. Under this scheme you can also get a pension of Rs 10000.
How to get pension of Rs 10000
By joining Atal Pension Yojana, both husband and wife can avail pension up to Rs 10,000. If the husband dies before 60 years of age, the wife will get pension facility. On the death of both husband and wife, the nominee will receive the full amount. The government started this scheme in 2015-16.
requirements
To open an account in this scheme, you must have a bank account which is linked to Aadhar card. Apart from this the applicant must have a mobile number. Is not already a beneficiary of irrevocable pension. Application for opening an account under this scheme can be made by visiting the bank branch where your savings account is opened. More than 5 crore people have joined this scheme so far.