Sarkari Pension Yojana: Get ₹5,000 Monthly Pension with Government Guarantee by Paying Just ₹210 — Check Details

Atal Pension Yojana Benefits: There are many schemes running in the country, in which lakhs of people are participating. If you want to join any scheme, you can do so. For example, one scheme is Atal Pension Yojana, which is run by the Government of India.

Actually, it is a pension scheme that you can join and get pension. Under this scheme of the central government, you first have to invest in it and after the age of 60, you can get pension up to Rs 5,000 per month. So, let’s know more about this Atal Pension Yojana.

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What is Atal Pension Yojana?

The objective of Atal Pension Yojana is to provide lifelong pension to people working in the unorganized sector after retirement. Launched on May 9, 2015, this scheme guarantees pension. This scheme requires a small investment and can be applied for between the ages of 18 and 40. After the age of 60, a guaranteed pension of Rs 1,000 to Rs 5,000 per month is guaranteed. The contribution to Atal Pension Yojana (APY) varies depending on the age. You can invest in this scheme on a monthly, quarterly or half-yearly basis. After the death of the pensioner, the surviving spouse will get the pension and the nominee will get the personal return. Tax benefits are also provided under this scheme. Tax deduction is available under section 80CCD of the Income Tax Act.

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Age Limit

At the age of 18, you can get a pension of Rs 1,000 by contributing around Rs 42 per month and a pension of Rs 5,000 by contributing around Rs 210.

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If you apply for this scheme at the age of 40, you will have to deposit Rs 291 per month for a pension of Rs 1,000 and Rs 1,454 per month for a pension of Rs 5,000.

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What is the application procedure?

• You will first have to go to the bank.
• Here you can meet the concerned officer who will do your KYC.
• Then you will be given information about the scheme and the pension plan.
• Then you will be informed about the premium and your bank account will be linked to the scheme.
• After this, you will join the scheme and the premium will be deducted from your bank account every month.