look news india
It is very important to choose the right plan for financial security after retirement. In this direction, Atal Pension Yojana (APY) launched by the Government of India is an effective scheme which provides you financial security after retirement. The main objective of this scheme is to encourage people in the unorganized sector to save for retirement so that they can remain financially independent even in old age.
Under this scheme, any Indian citizen between the age of 18 to 40 years can invest. The investor can get a pension of Rs 1,000 to Rs 5,000 every month after the age of 60 years.
Less contribution, more benefit
If you start investing at the age of 18, then by contributing just Rs 210 per month, you can get a monthly pension of Rs 5,000 after the age of 60.
government guarantee
The minimum amount of pension received in this scheme is guaranteed by the Central Government, due to which your pension remains safe.
Government Contribution:
The Central Government also contributes 50% of your contribution amount or a maximum of Rs 1,000 per year, provided you are not covered under any other social security scheme and are not an income tax payer.
various options
If you want to start investing at the age of 40, you will have to contribute Rs 1,454 per month to get a pension of Rs 5,000 after the age of 60. If you join this scheme at the age of 32, you will have to contribute Rs 689 per month.
Flexibility and security
This scheme offers various pension options, so you can choose the scheme as per your needs and financial situation.
There are not just one or two but many benefits of investing in mutual funds.
There are not just one or two, but many benefits of investing in mutual funds.
Benefits of investing in Atal Pension Yojana
Regular monthly pension protects from financial dependence in old age.
Particularly beneficial for workers in the unorganized sector.
Investing at a young age gives more returns with less contribution.