Nowadays, pension is getting important for every person. To fulfill the need, there are multiple pension schemes in the market with good return promises. But there can be trust issues over the non governmental initiatives. During the old age, no one will like to lose their hard earned money. So solve the problem, the Central Government of India has introduced a reliable scheme to get guarented pension during old age. The name of the pension scheme is Atal Pension Yojana also known as APY. Through this scheme, you can get Rs 5,000 pension in every month. To get the pension, you have fulfill some criterias, otherwise, you will not be able to get pension from Atal Pension Yojana.
Details about Atal Pension Yojana
The Atal Pension Yojana (APY) is run by the central government and aims to provide financial assistance to people in their old age. This scheme is being implemented to ensure that people receive a monthly pension after the age of 60. Under this scheme, you must first invest, based on your age, and the premium is deducted from your bank account every month. If a person aged 18 joins this scheme, they will have to pay a monthly premium of ₹210. After the age of 60, they will receive a monthly pension of ₹5,000.
If you want to apply for the Atal Pension Scheme, know that only Indian citizens can join the scheme. Furthermore, only those between the ages of 18 and 40 can apply. If you are a taxpayer as of October 1, 2022, you are not eligible to join the scheme. Therefore, if you do not fall into these three categories, you are not eligible to apply.
Who can be benefited through the scheme?
1. If you want to join this scheme, then for this you have to go to your bank branch.
2. Go here and meet the concerned officer who will conduct your e-KYC
3. Your bank account is then linked to the plan from where your monthly premium is deducted.
4. Under the scheme, you can get a monthly pension of up to Rs 1, 2, 3, 4 and 5 thousand, you just have to choose the plan.