Atal Pension Yojana: Investment of Rs 210, pension of Rs 5000 every month, this government scheme is support in old age..

By Shikha S Updated: Oct 18, 2024, 12:03 IST

Choosing the right plan for financial security after retirement is extremely important. In this direction, the 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 ages of 18 and 40 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 in this scheme is guaranteed by the Central Government, which keeps your pension 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 taxpayer.

Various 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 scheme offers various pension options, allowing you to choose a scheme according to your needs and financial situation.

There are not one or two, but many benefits of investing in mutual funds.

There are not one or two, but many benefits of investing in mutual funds.

Benefits of investing in Atal Pension Yojana
Regular monthly pension protects against financial dependence in old age.
Especially beneficial for workers in the unorganized sector.

Investing at an early age gives more benefits with less contribution.

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