If you want to secure your old age, there is no need to save a lot for it. Even if you only save 7-10 rupees a day, you may be entitled to a pension after 60. To do this, you only need to register for a Yojana pension and the bank will start paying your premium every month. The name of this plan is Atal Pension Yojana.
Atal Pension Yojana Benefits
Atal Pension Yojana was founded by the central government in 2015. Its aim was to secure the future of people aged 18 to 40 who work in unorganized sectors. To take advantage of the scheme, you must be an Indian citizen, have a bank or post office account, an Aadhaar card and a mobile phone.
The Atal Pension Yojana (APY) pension amount ranges from Rs 1000 to Rs 5000 per month. If you deposit a premium of Rs 210 each month, you will receive a pension of Rs 5,000 on that amount.
Whereas if you deposit 42 rupees a month, after 60 years you will receive a pension of 1,000 rupees. If you deposit Rs 84 per month, after 60 years you will be entitled to a pension of Rs 3,000.
Atal Pension Yojana Taxes
Tax exemption is available according to Income Tax Law 80C at Atal Pension Yojana. Your money remains safe at Atal Pension Yojana. If a person registers at the Atal Yojana Pension and on his sudden death, his wife will be appointed.
AUM under the National Pension System (NPS) and Atal Pension Yojana (APY) has crossed the Rs 6 lakh crore mark after 13 years.
According to PFRDA 74.10 lakh of government employees and 28.37 lakh of non-government employees, NPS subscribers have seen a significant increase in recent years. PFRDA’s total subscriber base increased to Rs 4.28 crore.