This government scheme is a good option to guarantee pension in small investment. At present, under the Atal Pension Yojana, the government guarantees a pension of 1000 to 5000 rupees per month after 60 years. Obviously a person will definitely get a pension of Rs 60,000 annually.
Let us know how to register for Atal Pension Yojana and what are its benefits. In lieu of the amount invested in this pension scheme, the government will give pension after 60 years. Under the scheme, after making a certain contribution in the account every month, after retirement, a monthly pension of one thousand to five thousand rupees will be given. According to the current rules, if a maximum of Rs 5000 is added to the scheme for a monthly pension of 18 years at your age, then you will have to pay only Rs 210 every month
If the same money is given every three months, then Rs 626 will have to be paid and Rs 1,239 will have to be paid in six months. Suppose you join for 5 thousand pension at the age of 35, then for 25 years you will have to deposit Rs 5,323 every 6 months. In this case, your total investment will be Rs 2.66 lakh. On that amount you will get Rs 5000 monthly pension. On the other hand, if you join at the age of 18, then your total investment will be only Rs 1.04 lakh. That is, if you are older then you will have to invest about Rs 1.60 lakh more for the same pension.
Highlights of the plan
3 types of plans can be selected for its payment, Monthly Investment, Quarterly Investment or Half Yearly Investment.
It gets the benefit of tax exemption under Section 80CCD of Income Tax.
Only one pension account will be opened in the name of one member.
If the member dies before or after 60 years, the pension amount will be given to his wife.
If both the member and the wife dies, then the government will give pension to their nominee.