Atal Pension Yojana (APY) was launched by Prime Minister Narendra Modi on 9 May 2015. Through this one can get pension ranging from 1000 to 5000 rupees per month. Earlier anyone could take advantage of this scheme but last year it was changed and now if you pay tax then you cannot invest in this scheme. More than 5 crore people have registered in this scheme.
To get a pension of Rs 5000 through this, you will have to balance the age and contribution. Today we will tell you that you can get a pension of Rs 5000 by investing how much money every month. Along with this, you will also be told for how long this contribution will have to be made.
Combination of rupee and age
Suppose an 18 year old person starts investing in APY. If he wants a pension of Rs 5000 every month, then he will have to deposit Rs 210 every month till the age of 60 years. On depositing this Rs 168, Rs 4000, on depositing Rs 84, Rs 2000, on depositing Rs 126, Rs 3000 and on depositing Rs 42, he will get a monthly pension of Rs 1000 after 60 years.
If a 40-year-old person starts investing in it, then he will have to deposit Rs 1454 every month to get a pension of Rs 5000. If he deposits Rs 291 every month, then after the age of 60, he will get a monthly pension of Rs 1000. Similarly, Rs 582 will have to be deposited for Rs 2000 pension, Rs 873 for Rs 3000 pension and Rs 1164 for Rs 4,000 pension. You can find out your age-specific contribution online.
What are the facilities
It is not necessary that you pay the installment every month. In Atal Pension Yojana, you get the facility to pay your installment in 3 months and 6 months as well. If you want, you can turn on the feature of auto debit for this from your bank account. This will automatically deduct that amount at the specified time.
If the subscriber dies, the pension will be given to his spouse. If both of them die then the amount deposited by subscription for 60 years will be returned to the nominee. You can open an account for this scheme in any bank.
