Keep these things in mind before investing in Atal Pension Scheme

Any Indian citizen can join the Atal Pension Yojana but must be between 18 to 40 years of age. The monthly pension you get after 60 years can be between Rs 1,000 to Rs 5,000.

Atal Pension Yojana (APY) was launched in the year 2015. Monthly pension has been made by the government after the age of 60 years, after depositing just a small amount in this scheme. For this scheme, you must have a savings account in a bank or post office. This scheme is mainly for the poor, deprived and unorganized sector workers. Any Indian citizen can join the Atal Pension Yojana but must be between 18 and 40 years of age. The monthly pension you get after 60 years can be between Rs 1,000 to Rs 5,000. The amount of pension will depend on how much you contributed every month.

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Let us know that the Atal Pension Yojana was started on 1 June 2015 in the name of former PM Atal Bihari Bajpayee. You want a monthly pension of 1000 rupees every month and you are 18 years old. For this, you have to deposit 42 rupees every month for 42 years. At the same time, for a pension of Rs 5,000, you have to deposit Rs 210 every month till the completion of 60 years. At the same time, those who are 40 years old will have to deposit Rs 291 every month for 20 years for a monthly pension of Rs 1000. 2000, 3000, 4000 or 5000 rupees per month for pensioners, their premium will have to be paid per month according to their age.

About 2.28 crore shareholders are registered under the Atal Pension Yojana. You will get income tax rebate on whatever amount you deposit in the Atal Pension Yojana. The scheme is operated by the Pension Fund Regulatory and Development Authority (PFRDA). If you want to be a part of the Atal Pension Yojana, you can fill the form both online or offline.

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