Atal Pension Yojana: Atal Pension Yojana is used to get a daily pension of Rs.
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| Atal Pension Yojana |
Atal Pension Yojana News: When planning about your finances, it is important to choose the right investment options. When you choose a monthly pension plan, the Atal Pension Scheme (APY), which is managed by the Informal Department and the Pension Fund Regulation and Development Authority (PFRDA), is of great benefit. This pension scheme encourages those in the informal sector to voluntarily save for retirement.
If a person chooses this scheme at an early age, after reaching the age of 60, he/she will get Rs. Experts say you will get a fixed pension of Rs 1,000, Rs 2,000, Rs 3,000, Rs 4,000, or Rs 5,000 and will be able to reap the maximum benefits of the scheme.
Atal Pension Yojana: What does the Atal Pension Yojana (APY) scheme offer?
This pension scheme gives an investor the option of getting a fixed pension of Rs.1,000 to Rs.5,000 after the age of 60 years. The correct pension amount can be determined only on the basis of one's age and the amount he pays. For example, these contributions can vary from Rs. 42 to Rs.
If a 22-year-old individual wants to get a monthly pension of Rs 1,000, he has to pay Rs 59 per month. To get a pension of Rs 5,000 per month, the same deposit of Rs 292 per month has to be paid. One can invest in this scheme between the ages of 18 and 39, however, the pension will be paid only after the investor reaches the age of 60.
Under this scheme, in case of death of the depositor, his wife or son/daughter can claim the pension. However, if the depositor dies before reaching the age of 60, the plan can be continued or withdrawn for the remaining period depending on the spouse. According to the PFRDA, in case of death or illness of the depositor, there is an option to withdraw from the scheme in advance.
To apply for the Atal Pension Scheme, you have to contact all the banks. Anukalam. Almost all nationalized banks offer the option of choosing this scheme. Forms for this pension scheme are also available online which can be accessed from the official website of the banks.