The Atal Pension Scheme is a good option to guarantee a pension at low investment. Currently, under the Atal Pension Scheme, the government guarantees a pension of Rs 1000 to 5000 per month and a 40 year old person can apply for the Atal Pension Scheme. Please tell us how you can take advantage of the Atal Pension Scheme as per the current rules.
60,000 annually pension
The purpose of the Atal Pension Scheme is to cover every section of the pension. However, the Pension Fund Regulation and Development Authority (PFRDA) has recommended the government to increase the maximum age under the Atal Pension Scheme (APY). Under the scheme, after making a defined contribution to the account every month, after retirement, you get a pension of Rs 1000 to Rs 5000. After investing 60 rupees every 6 months, the government is guaranteing a lifetime pension of Rs 5,000 or Rs 60,000 per month after the age of 60 years.
210 per month to be paid
According to current rules, at the age of 18, if you add a maximum of Rs 5,000 to the monthly pension, you will have to pay Rs 210 per month. If you give this money every three months, you will have to pay Rs 626 and if you give it in six months, Rs 1,239. If you invest at the age of 18 to get a pension of Rs 1,000 per month, you will be paying Rs 42 per month.
You get the most benefits by joining at a young age
If you join the 5th pension at the age of 35, you will be paid Rs 5,323 every 25 months for 25 years. In this case, your total investment will be Rs 2.66 lakh, upon which you will have a monthly income of Rs. At the age of 18, your total investment is only 1.04 lakh rupees. This means that a single pension will have to invest more than Rs 1.60 lakh.
Other matters related to the project
– You can choose 3 types of plan for payment, monthly investment, quarterly investment or semi-annual investment.
– You have to invest this for 42 years.
– Your total investment in 42 years is Rs 1.04 lakh.
In return, 60 years later, you will continue to receive a pension of 5 thousand rupees per month for the entire lifetime.
– This scheme is regulated by the Pension Fund Regulation and Development Authority through the National Pension Scheme.
Under Section 80 CCD of Income Tax, there is the benefit of tax deduction.
– Only 1 account is opened in the members name. Many banks have the option of opening accounts.
The contribution amount will be paid by the government for the first 5 years.
– If the member dies before or after 60 years, the pension amount is paid to the wife.
– The government grants the nominee a pension if both the member and the wife are killed.
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