Atal Pension Yojana: People are investing heavily in Atal Pension Yojana, what are the features of the scheme...


The popularity of the central government's flagship social security scheme Atal Pension Yojana (APY) is skyrocketing. In the 11 months of the current financial year, there has been a jump of 28.46 percent in the number of subscribers of the Atal Pension Yojana. The Pension Fund Regulatory and Development Authority ie PFRDA gave this information.


One of the popular pension schemes in India, Atal Pension Yojana has seen a year-on-year growth of 28.46 percent in subscribers, according to a statement released by pension fund regulator PFRDA on Friday. Atal Pension Yojana accounts have increased by 28.46 percent from 3.52 crore in March 2022 to 4.53 crore in March 2023.

What is Atal Pension Yojana
The Modi government started the Atal Pension Yojana in 2015. All citizens in the age group of 18 to 40 years can be a part of this scheme. However, after October 1, 2022, only those people who do not pay income tax can apply for APY. Under the scheme, a subscriber is guaranteed a monthly pension of Rs 1,000 to Rs 5,000 depending on his contribution after he attains the age of 60 years. On the death of the subscriber, this pension amount is given to his spouse.

Will get a pension of Rs 5000 every month
Explain that Atal Pension Yojana is a good option for guaranteeing a pension by investing less money. Under the Atal Pension Yojana, on making a fixed contribution every month in the account, after retirement, a pension of Rs 1,000 to Rs 5,000 will be received. According to the current rules, if at the age of 18 years, a maximum of Rs 5,000 is added to the scheme for monthly pension, then you will have to pay Rs 210 every month. If you give this money every three months, then you will have to pay Rs 626 and if you give it in six months, you will have to pay Rs 1,239. If you invest at the age of 18 to get a pension of Rs 1,000 a month, then you will have to pay Rs 42 monthly.


You will get more benefits if you join at a young age
Suppose that if you join at the age of 35 for a 5 thousand pension, then you will have to deposit Rs 5,323 every 6 months for 25 years. In this case, your total investment will be Rs 2.66 lakh, on which you will get a monthly pension of Rs 5,000. While joining at the age of 18, your total investment will be only Rs 1.04 lakh. That is, for the same pension, about 1.60 lakh rupees more will have to be invested. Under section 80CCD of income tax, it gets the benefit of tax exemption

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