New Delhi . Choosing the right plan for financial security after retirement is very important. In this direction, Atal Pension Yojana (APY) launched by the Government of India is an effective scheme that provides you financial security after retirement.
The main objective of the scheme is to encourage people in the unorganized sector to save for retirement, so that they can remain financially independent even in old age.
Under this scheme, any Indian citizen between the age of 18 and 40 years can invest. The investor can get a pension of Rs 1,000 to Rs 5,000 every month after the age of 60.
Less contribution, more benefit:
If you start investing at the age of 18, then by contributing just Rs 210 per month, you can get a monthly pension of Rs 5,000 after the age of 60.
Government Guarantee:
The minimum amount of pension received under this scheme is guaranteed by the Central Government, so that your pension remains safe.
Government Contribution
The Central Government also contributes 50% of your contribution amount or a maximum of Rs 1,000 per year, provided you are not covered under any other social security scheme and are not an income tax payer.
Different options
If you want to start investing at the age of 40, you will have to contribute Rs 1,454 per month to get a pension of Rs 5,000 after the age of 60. If you join the scheme at the age of 32, you will have to contribute Rs 689 per month.
Flexibility and Security
The plan offers various pension options, allowing you to choose the plan that best suits your needs and financial situation.
Benefits of investing in Atal Pension Yojana
Regular monthly pension protects against financial dependency in old age.
Especially beneficial for workers in the unorganized sector.
Investing at an early age gives more benefits with less contribution.
Related Articles:-
Post Office FD: ₹30,00,000 will be available on investment of ₹10,00,000, know details
SBI Mutual Fund: SIP of Rs 20,000 per month converted into Rs 28 lakh, know how
