- By Aditya Pratap Singh
- Thu, 23 May 2024 12:28 PM (IST)
- Source:JND
Atal Pension Yojana: If you want to have a regular pension benefit in your old age, you need to start investing for it very early. In India people working in organised sector have many options to start investing in pension schemes. However, people in unorganised sector are not much aware of investment schemes, especially small businessmen and workers.
The government is running the Atal Pension Yojana, which can be a great option for employees or workers associated with the unorganized sector. They can secure a pension for older age with minimum investment. By investing Rs 210 in Atal Pension Yojana, the person can secure a pension of Rs 5,000 per month. That is, he will get an annual pension of Rs 60,000 for his whole life. Below are the detailed information about the scheme.
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Atal Pension scheme- Rs 60,000 annual pension
By depositing just Rs 210 every month, you can get a maximum pension of Rs 5,000 every month after retirement i.e. after 60 years of age. According to the rules of the scheme, if you opt for a maximum pension of Rs 5,000 per month at the age of 18, you will have to pay Rs 210 every 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 monthly.
Benefits of Atal Pension Yojana
The government brought the Atal Pension Scheme in the Budget 2015-16 keeping in mind the security of income in old age. The government encourages common people, especially those associated with the unorganized sector, to save as much as possible. People associated with the unorganized sector also have to be protected from the risk of having no income after retirement. The scheme is run by the Pension Fund Regulatory and Development Authority (PFRDA).
Under Atal Pension Yojana, a citizen gets a pension ranging from Rs 1,000 to Rs 5,000 every month. The Government of India guarantees the minimum pension benefit. Under the scheme, pensions of Rs 1,000, 2000, 3,000, 4,000, and 5,000 is available. Investment also depends on the pension amount. You get more benefits if you join at a young age.