Atal Pension Yojana (APY) is an efficient government-run scheme. The Pension Fund Development and Regulation Authority (PFRDA) manages this scheme, which is specifically aimed at the unorganized sector. The government provides all retirement benefits on the plan.
If you want to enjoy the benefits of this scheme and get a monthly pension of Rs 5000, you can also benefit from this scheme. If you are in the 18-40 age bracket then you are eligible for this scheme. Under this scheme, you must continue the investment for a period of 20 years. It is mandatory to have a bank account linked to your Aadhaar card, for the APY device. The State Bank of India (SBI) and even regional banks open a bank account for the APY program.
Get a pension of Rs 5000 per month
This scheme is intended for unorganized sectors with meager incomes; in order for their income to continue after 60 years, this scheme came into effect. People who are outside the income tax slab can enjoy the benefits of this scheme. Under the APY, the beneficiary receives a minimum of Rs 1000 and a maximum of Rs 5000 per month. If you are 18 years of age or older, you can benefit from this plan.
The amount of investment differs according to age. The sooner you start investing, the less you have to invest. For example, if you started investing at the age of 18, then in order to get a pension of Rs 5000 you need to invest an amount of Rs 210 every month, or Rs 7 per day. If you start investing at the age of 30 then you should invest an amount of Rs 577 and if you are 39 then you should invest an amount of Rs 1318 per month.
Investment if you start at the next age-
18 years old
Monthly investment- Rs 210 Annual investment – Rs 2,520 Investment during the 42nd year- Rs 1,05,840 Retirement- Rs 5,000 / month Candidate will get- Rs 8,5 lakhs
Monthly investment- Rs 376 Annual investment- Rs 4512 Investment during the 35th year- Rs 1,57,920 Pension- Rs 5,000 / month Candidate will get- Rs 8,5 lakh
Monthly investment- Rs 577 Annual investment- Rs 6924 Investment during the 30th year- Rs 2,07,720 Retirement after 60 years- Rs 5,000 per month Candidate will get- Rs 8.5lakh
39 years old
Monthly investment- Rs 1,318 Annual investment- Rs 1.5816 Investment in 21st year- Rs 3.32,136 Retirement after 60 years- Rs 8.5 lakh
In the event of the sudden death of a person who benefited from the APY device, the family will continue to benefit from this device. During confinement, the tendency to benefit from this regime increased. According to the PFRDA, the number of beneficiaries of the Atal Yojana National Retirement and Pension Scheme during the fiscal year of March 31, 2021 saw an increase of 23% to reach 4.24 crores. Under the APY scheme, there is a 33% increase of which 77 lakhs are new beneficiaries.